Ontario Teachers Pension Plan Board Trims Position in National Storage Affiliates Trust (NYSE:NSA)

Ontario Teachers Pension Plan Board lowered its holdings in National Storage Affiliates Trust (NYSE:NSA) by 67.9% in the third quarter, according to the company in its most recent Form 13F filing 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 owned 0.11% of National Storage Affiliates Trust worth $4,017,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its holdings in National Storage Affiliates Trust by 0.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,537,362 shares of the real estate investment trust’s stock valued at $122,301,000 after buying an additional 22,454 shares during the period. Leeward Investments LLC MA increased its position in National Storage Affiliates Trust by 30.9% during the second quarter. Leeward Investments LLC MA now owns 414,734 shares of the real estate investment trust’s stock worth $17,095,000 after purchasing an additional 97,786 shares during the last quarter. Swedbank AB acquired a new position in National Storage Affiliates Trust during the first quarter worth approximately $16,056,000. Long Pond Capital LP purchased a new position in National Storage Affiliates Trust during the second quarter worth approximately $16,198,000. Finally, Sei Investments Co. boosted its holdings 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 valued at $16,034,000 after purchasing an additional 32,544 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NSA. Evercore ISI boosted their price target on National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an “underperform” rating in a research report on Monday, September 16th. KeyCorp downgraded National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a report on Monday, September 9th. Citigroup boosted their price objective on National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Wells Fargo & Company increased their target price on National Storage Affiliates Trust from $40.00 to $42.00 and gave the company an “underweight” rating in a research note on Monday, October 21st. Finally, Barclays boosted their price target on 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. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $43.17.

National Storage Affiliates Trust Stock Performance

Shares of NSA opened at $44.22 on Wednesday. National Storage Affiliates Trust has a 52-week low of $32.42 and a 52-week high of $49.44. 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 cap of $3.37 billion, a price-to-earnings ratio of 25.86 and a beta of 0.99. The business’s 50 day moving average is $45.01 and its two-hundred day moving average is $42.61.

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

National Storage Affiliates Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.57 dividend. This is a positive change from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. This represents a $2.28 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend is Friday, December 13th. National Storage Affiliates Trust’s payout ratio is currently 130.99%.

National Storage Affiliates Trust Profile

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.