Arrowstreet Capital Limited Partnership Trims Position in National Storage Affiliates Trust (NYSE:NSA)

Arrowstreet Capital Limited Partnership lessened its stake in shares of National Storage Affiliates Trust (NYSE:NSA) by 71.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,100 shares of the real estate investment trust’s stock after selling 122,304 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.06% of National Storage Affiliates Trust worth $1,921,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its holdings in National Storage Affiliates Trust by 19.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 173,575 shares of the real estate investment trust’s stock valued at $6,931,000 after buying an additional 28,140 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in National Storage Affiliates Trust during the 1st quarter valued at about $245,000. TD Asset Management Inc. grew its holdings in National Storage Affiliates Trust by 4.8% during the 1st quarter. TD Asset Management Inc. now owns 48,300 shares of the real estate investment trust’s stock valued at $1,929,000 after buying an additional 2,200 shares in the last quarter. Globeflex Capital L P grew its holdings in National Storage Affiliates Trust by 27.8% during the 1st quarter. Globeflex Capital L P now owns 16,460 shares of the real estate investment trust’s stock valued at $657,000 after buying an additional 3,584 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of National Storage Affiliates Trust by 1.5% during the first quarter. UBS Asset Management Americas Inc. now owns 387,012 shares of the real estate investment trust’s stock worth $15,453,000 after purchasing an additional 5,652 shares in the last quarter. 81.71% of the stock is owned by institutional investors and hedge funds.

NYSE:NSA opened at $52.86 on Thursday. The stock has a 50 day moving average price of $49.08. The company has a market cap of $4.05 billion, a P/E ratio of 85.26 and a beta of 0.37. National Storage Affiliates Trust has a 1-year low of $28.88 and a 1-year high of $53.98. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.42.

National Storage Affiliates Trust (NYSE:NSA) last released its earnings results on Monday, May 3rd. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.26). The firm had revenue of $122.99 million during the quarter, compared to the consensus estimate of $118.50 million. National Storage Affiliates Trust had a return on equity of 5.16% and a net margin of 13.93%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. On average, research analysts anticipate that National Storage Affiliates Trust will post 1.99 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 15th were given a $0.38 dividend. The ex-dividend date of this dividend was Monday, June 14th. This represents a $1.52 annualized dividend and a yield of 2.88%. This is an increase from National Storage Affiliates Trust’s previous quarterly dividend of $0.35. National Storage Affiliates Trust’s payout ratio is presently 88.89%.

NSA has been the subject of several recent analyst reports. Robert W. Baird initiated coverage on National Storage Affiliates Trust in a report on Friday, July 2nd. They set a “buy” rating and a $54.00 price objective for the company. Citigroup boosted their price objective on National Storage Affiliates Trust from $48.50 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, July 1st. Wells Fargo & Company boosted their price objective on National Storage Affiliates Trust from $45.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, May 27th. Morgan Stanley boosted their price objective on National Storage Affiliates Trust from $46.00 to $49.00 and gave the stock an “equal weight” rating in a report on Tuesday. They noted that the move was a valuation call. Finally, Zacks Investment Research raised National Storage Affiliates Trust from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Wednesday, June 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. National Storage Affiliates Trust has a consensus rating of “Buy” and a consensus price target of $48.78.

National Storage Affiliates Trust Profile

National Storage Affiliates Trust is a Maryland real estate investment trust focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistical areas throughout the United States. As of September 30, 2020, the Company held ownership interests in and operated 788 self storage properties located in 35 states and Puerto Rico with approximately 49.5 million rentable square feet.

Recommended Story: Trading Strategy Methods for Individual Investors

Institutional Ownership by Quarter for National Storage Affiliates Trust (NYSE:NSA)

Receive News & Ratings for National Storage Affiliates Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Storage Affiliates Trust and related companies with MarketBeat.com's FREE daily email newsletter.