Jacobs Levy Equity Management Inc. Buys New Shares in National Storage Affiliates Trust (NYSE:NSA)

Jacobs Levy Equity Management Inc. purchased a new position in shares of National Storage Affiliates Trust (NYSE:NSA) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 28,361 shares of the real estate investment trust’s stock, valued at approximately $1,367,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NSA. Long Pond Capital LP acquired a new stake in shares of National Storage Affiliates Trust in the second quarter valued at approximately $16,198,000. FMR LLC raised its stake in National Storage Affiliates Trust by 27.5% in the 3rd quarter. FMR LLC now owns 1,664,182 shares of the real estate investment trust’s stock valued at $80,214,000 after acquiring an additional 358,449 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in National Storage Affiliates Trust by 385.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 421,161 shares of the real estate investment trust’s stock valued at $20,300,000 after acquiring an additional 334,445 shares during the period. Victory Capital Management Inc. lifted its holdings in National Storage Affiliates Trust by 1,581.9% during the 3rd quarter. Victory Capital Management Inc. now owns 241,705 shares of the real estate investment trust’s stock valued at $11,650,000 after purchasing an additional 227,334 shares during the last quarter. Finally, Hancock Whitney Corp boosted its position in National Storage Affiliates Trust by 1,760.2% during the third quarter. Hancock Whitney Corp now owns 208,195 shares of the real estate investment trust’s stock worth $10,035,000 after purchasing an additional 197,003 shares during the period. Institutional investors own 99.97% of the company’s stock.

National Storage Affiliates Trust Trading Up 1.0 %

NSA opened at $43.40 on Monday. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 25.38 and a beta of 1.01. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.35. National Storage Affiliates Trust has a twelve month low of $34.50 and a twelve month high of $49.44. The company has a 50-day simple moving average of $44.00 and a 200 day simple moving average of $43.33.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.42). National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The firm had revenue of $174.80 million for the quarter, compared to the consensus estimate of $185.45 million. During the same period last year, the company posted $0.67 EPS. The business’s revenue was down 20.2% on a year-over-year basis. Analysts predict that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.57 per share. This is an increase from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend is Friday, December 13th. National Storage Affiliates Trust’s dividend payout ratio is currently 130.99%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NSA shares. Wells Fargo & Company raised their target price on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Barclays raised their price objective on shares of National Storage Affiliates Trust from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Citigroup upped their target price on National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a research report on Friday, August 30th. Robert W. Baird boosted their price target on National Storage Affiliates Trust from $39.00 to $42.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, KeyCorp lowered National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a report on Monday, September 9th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, National Storage Affiliates Trust presently has a consensus rating of “Hold” and a consensus price target of $43.17.

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.