National Storage Affiliates Trust (NYSE:NSA) Shares Down 3.3% – Here’s Why

National Storage Affiliates Trust (NYSE:NSA)’s stock price dropped 3.3% during trading on Wednesday . The company traded as low as $37.77 and last traded at $37.72. Approximately 280,104 shares traded hands during trading, a decline of 52% from the average daily volume of 588,857 shares. The stock had previously closed at $39.00.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays dropped their price objective on National Storage Affiliates Trust from $42.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised National Storage Affiliates Trust from a “sell” rating to a “hold” rating and dropped their target price for the company from $40.00 to $38.00 in a research report on Friday, January 10th. Wells Fargo & Company reduced their price target on shares of National Storage Affiliates Trust from $40.00 to $38.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. Finally, Robert W. Baird lowered their price objective on shares of National Storage Affiliates Trust from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, National Storage Affiliates Trust currently has a consensus rating of “Hold” and a consensus price target of $42.06.

National Storage Affiliates Trust Stock Performance

The stock has a 50-day moving average price of $37.88 and a 200 day moving average price of $40.87. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 22.36 and a beta of 1.07.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.41. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The company had revenue of $190.12 million during the quarter, compared to the consensus estimate of $185.37 million. On average, analysts forecast that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 5.96%. The ex-dividend date was Friday, March 14th. National Storage Affiliates Trust’s dividend payout ratio (DPR) is presently 200.00%.

Insiders Place Their Bets

In related news, Director Michael J. Schall acquired 4,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $38.54 per share, with a total value of $154,160.00. Following the completion of the acquisition, the director now owns 6,000 shares in the company, valued at $231,240. This trade represents a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NSA. Versant Capital Management Inc lifted its position in National Storage Affiliates Trust by 233.6% in the fourth quarter. Versant Capital Management Inc now owns 734 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 514 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of National Storage Affiliates Trust in the 4th quarter valued at about $28,000. Quarry LP grew its stake in National Storage Affiliates Trust by 444.7% during the 4th quarter. Quarry LP now owns 926 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 756 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in National Storage Affiliates Trust during the fourth quarter worth approximately $50,000. Finally, Venturi Wealth Management LLC lifted its stake in National Storage Affiliates Trust by 48.9% in the fourth quarter. Venturi Wealth Management LLC now owns 2,161 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 710 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

About National Storage Affiliates Trust

National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of self storage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States. As of December 31, 2023, the Company held ownership interests in and operated 1,050 self storage properties, located in 42 states and Puerto Rico with approximately 68.6 million rentable square feet, which excludes 39 self storage properties classified as held for sale to be sold to a third party.