Jennison Associates LLC lifted its position in National Storage Affiliates Trust (NYSE:NSA – Free Report) by 30.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,274,412 shares of the real estate investment trust’s stock after acquiring an additional 298,602 shares during the period. Jennison Associates LLC’s holdings in National Storage Affiliates Trust were worth $48,096,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in NSA. Royal Bank of Canada grew its stake in National Storage Affiliates Trust by 0.8% in the first quarter. Royal Bank of Canada now owns 110,289 shares of the real estate investment trust’s stock worth $4,345,000 after purchasing an additional 898 shares during the period. Advisors Asset Management Inc. bought a new stake in shares of National Storage Affiliates Trust during the 1st quarter valued at $32,000. Jones Financial Companies Lllp boosted its holdings in shares of National Storage Affiliates Trust by 207.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,217 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 821 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of National Storage Affiliates Trust by 42.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 92,309 shares of the real estate investment trust’s stock worth $3,637,000 after buying an additional 27,546 shares during the period. Finally, Empowered Funds LLC grew its position in shares of National Storage Affiliates Trust by 2.0% in the 1st quarter. Empowered Funds LLC now owns 61,409 shares of the real estate investment trust’s stock worth $2,420,000 after buying an additional 1,209 shares during the period. Hedge funds and other institutional investors own 99.97% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. Barclays lifted their price target on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Weiss Ratings upgraded shares of National Storage Affiliates Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Evercore set a $46.00 target price on shares of National Storage Affiliates Trust and gave the company a “cautious” rating in a research note on Monday, July 6th. Truist Financial lifted their target price on shares of National Storage Affiliates Trust from $38.00 to $45.00 and gave the company a “hold” rating in a report on Tuesday, June 23rd. Finally, UBS Group boosted their price target on National Storage Affiliates Trust from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Twelve investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $38.60.
National Storage Affiliates Trust Price Performance
NSA opened at $44.16 on Tuesday. The firm has a market cap of $3.41 billion, a PE ratio of 58.88 and a beta of 1.03. The stock has a 50-day moving average price of $44.00 and a 200-day moving average price of $38.84. National Storage Affiliates Trust has a 1 year low of $27.43 and a 1 year high of $46.47. The company has a debt-to-equity ratio of 3.02, a current ratio of 0.29 and a quick ratio of 0.29.
National Storage Affiliates Trust (NYSE:NSA – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.38). The firm had revenue of $185.40 million for the quarter, compared to analysts’ expectations of $181.69 million. National Storage Affiliates Trust had a net margin of 10.48% and a return on equity of 6.46%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. Sell-side analysts predict that National Storage Affiliates Trust will post 2.22 earnings per share for the current fiscal year.
National Storage Affiliates Trust Announces Dividend
The company also recently declared a special dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Tuesday, July 21st will be issued a dividend of $0.0336 per share. The ex-dividend date is Tuesday, July 21st. National Storage Affiliates Trust’s dividend payout ratio is presently 304.00%.
About National Storage Affiliates Trust
National Storage Affiliates Trust is a publicly traded real estate investment trust (REIT) focused on the ownership and operation of self-storage properties in the United States. Since its initial public offering in August 2015, NSA has pursued a growth strategy built on strategic acquisitions and partnerships, establishing a diversified portfolio of assets backed by a centralized support platform. The Trust’s model combines the scalability of a national REIT with the local expertise of affiliate operators.
The company’s core business involves providing flexible storage solutions to both individual and commercial customers.
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