Jennison Associates LLC Decreases Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Jennison Associates LLC trimmed its holdings in National Storage Affiliates Trust (NYSE:NSA) by 6.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,321,733 shares of the real estate investment trust’s stock after selling 84,208 shares during the period. Jennison Associates LLC’s holdings in National Storage Affiliates Trust were worth $50,107,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ritholtz Wealth Management acquired a new stake in shares of National Storage Affiliates Trust in the third quarter valued at approximately $696,000. Allspring Global Investments Holdings LLC lifted its stake in National Storage Affiliates Trust by 515.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 52,177 shares of the real estate investment trust’s stock valued at $2,515,000 after buying an additional 43,698 shares in the last quarter. Hancock Whitney Corp grew its holdings in National Storage Affiliates Trust by 1,760.2% during the 3rd quarter. Hancock Whitney Corp now owns 208,195 shares of the real estate investment trust’s stock valued at $10,035,000 after buying an additional 197,003 shares during the last quarter. Cerity Partners LLC increased its position in National Storage Affiliates Trust by 35.7% during the third quarter. Cerity Partners LLC now owns 47,784 shares of the real estate investment trust’s stock worth $2,303,000 after buying an additional 12,583 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of National Storage Affiliates Trust in the second quarter worth $767,000. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on NSA shares. Barclays decreased their price objective on National Storage Affiliates Trust from $46.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Robert W. Baird raised their price target on shares of National Storage Affiliates Trust from $39.00 to $42.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of National Storage Affiliates Trust from a “sell” rating to a “hold” rating and decreased their target price for the stock from $40.00 to $38.00 in a research report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, National Storage Affiliates Trust currently has an average rating of “Hold” and an average price target of $43.06.

National Storage Affiliates Trust Price Performance

National Storage Affiliates Trust stock opened at $36.74 on Wednesday. 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 company has a market cap of $2.80 billion, a price-to-earnings ratio of 21.49 and a beta of 1.03. National Storage Affiliates Trust has a 1 year low of $34.50 and a 1 year high of $49.44. The firm has a 50 day moving average price of $39.03 and a 200 day moving average price of $42.67.

National Storage Affiliates Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 6.21%. This is an increase from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Friday, December 13th. National Storage Affiliates Trust’s dividend payout ratio is presently 133.33%.

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.