Wolverine Asset Management LLC Invests $1.16 Million in National Storage Affiliates Trust $NSA

Wolverine Asset Management LLC bought a new position in shares of National Storage Affiliates Trust (NYSE:NSA) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 36,344 shares of the real estate investment trust’s stock, valued at approximately $1,163,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its holdings in National Storage Affiliates Trust by 38.5% during the second quarter. Jennison Associates LLC now owns 1,485,145 shares of the real estate investment trust’s stock worth $47,510,000 after acquiring an additional 413,173 shares in the last quarter. GW&K Investment Management LLC lifted its holdings in National Storage Affiliates Trust by 0.6% during the first quarter. GW&K Investment Management LLC now owns 778,132 shares of the real estate investment trust’s stock worth $30,658,000 after acquiring an additional 4,609 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in National Storage Affiliates Trust by 5.3% during the first quarter. Alliancebernstein L.P. now owns 764,738 shares of the real estate investment trust’s stock worth $30,131,000 after acquiring an additional 38,573 shares in the last quarter. Nuveen LLC bought a new position in National Storage Affiliates Trust during the first quarter worth about $23,134,000. Finally, LPL Financial LLC lifted its holdings in National Storage Affiliates Trust by 0.3% during the first quarter. LPL Financial LLC now owns 535,525 shares of the real estate investment trust’s stock worth $21,100,000 after acquiring an additional 1,713 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

National Storage Affiliates Trust Stock Performance

NSA opened at $29.11 on Friday. The business’s 50-day moving average price is $31.15 and its two-hundred day moving average price is $32.53. National Storage Affiliates Trust has a 1 year low of $28.02 and a 1 year high of $46.07. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 46.94 and a beta of 1.08. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.30 and a quick ratio of 0.30.

National Storage Affiliates Trust (NYSE:NSA) last released its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). The firm had revenue of $188.84 million during the quarter, compared to analyst estimates of $185.91 million. National Storage Affiliates Trust had a net margin of 8.92% and a return on equity of 4.91%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.21 EPS. National Storage Affiliates Trust has set its FY 2025 guidance at 2.170-2.230 EPS. Equities analysts expect that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $0.57 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 7.8%. National Storage Affiliates Trust’s payout ratio is currently 367.74%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on National Storage Affiliates Trust from $38.00 to $35.00 and set an “underweight” rating on the stock in a report on Wednesday, July 23rd. Evercore ISI lifted their target price on National Storage Affiliates Trust from $31.00 to $32.00 and gave the stock an “underperform” rating in a report on Monday, September 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of National Storage Affiliates Trust in a report on Wednesday, October 8th. Truist Financial dropped their price target on National Storage Affiliates Trust from $37.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday, August 25th. Finally, UBS Group dropped their price target on National Storage Affiliates Trust from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 16th. Seven equities research analysts have rated the stock with a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $33.64.

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.