National Storage Affiliates Trust (NYSE:NSA) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board reduced its stake in National Storage Affiliates Trust (NYSE:NSA) by 67.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,331 shares of the real estate investment trust’s stock after selling 176,002 shares during the period. Ontario Teachers Pension Plan Board’s holdings in National Storage Affiliates Trust were worth $4,017,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Thrivent Financial for Lutherans boosted its position in shares of National Storage Affiliates Trust by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 2,537,362 shares of the real estate investment trust’s stock worth $122,301,000 after buying an additional 22,454 shares during the period. Leeward Investments LLC MA grew its position in National Storage Affiliates Trust by 30.9% in the 2nd quarter. Leeward Investments LLC MA now owns 414,734 shares of the real estate investment trust’s stock valued at $17,095,000 after buying an additional 97,786 shares in the last quarter. Swedbank AB acquired a new position in National Storage Affiliates Trust during the 1st quarter valued at about $16,056,000. Long Pond Capital LP bought a new stake in shares of National Storage Affiliates Trust during the 2nd quarter worth about $16,198,000. Finally, Sei Investments Co. lifted its stake in shares of National Storage Affiliates Trust by 9.1% in the 2nd quarter. Sei Investments Co. now owns 388,995 shares of the real estate investment trust’s stock worth $16,034,000 after acquiring an additional 32,544 shares during the period. 99.97% of the stock is owned by institutional investors.

National Storage Affiliates Trust Stock Up 2.0 %

Shares of NYSE NSA opened at $44.22 on Wednesday. The stock has a market cap of $3.37 billion, a PE ratio of 25.86 and a beta of 0.99. National Storage Affiliates Trust has a 52-week low of $32.42 and a 52-week high of $49.44. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.72 and a current ratio of 0.72. The business has a fifty day moving average of $45.01 and a two-hundred day moving average of $42.61.

National Storage Affiliates Trust (NYSE:NSA) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.42). The business had revenue of $174.80 million during the quarter, compared to analyst estimates of $185.45 million. National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The firm’s revenue was down 20.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 earnings per share. As a group, equities research analysts expect that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. National Storage Affiliates Trust’s dividend payout ratio is presently 130.99%.

Analyst Ratings Changes

A number of research analysts recently issued reports on NSA shares. Robert W. Baird lifted their target price on National Storage Affiliates Trust from $39.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Jefferies Financial Group raised their price objective on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Citigroup boosted their target price on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a “neutral” rating in a report on Friday, August 30th. KeyCorp lowered shares of National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Finally, Wells Fargo & Company lifted their price target on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a research report on Monday, October 21st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently 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.