Exchange Traded Concepts LLC Takes $805,000 Position in National Storage Affiliates Trust (NYSE:NSA)

Exchange Traded Concepts LLC purchased a new stake in National Storage Affiliates Trust (NYSE:NSA) during the first quarter, HoldingsChannel reports. The institutional investor purchased 20,427 shares of the real estate investment trust’s stock, valued at approximately $805,000.

Other institutional investors also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new stake in shares of National Storage Affiliates Trust in the fourth quarter valued at about $28,000. Quarry LP increased its position in shares of National Storage Affiliates Trust by 444.7% in the fourth quarter. Quarry LP now owns 926 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 756 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of National Storage Affiliates Trust in the fourth quarter valued at about $50,000. Parallel Advisors LLC increased its position in shares of National Storage Affiliates Trust by 53.9% in the first quarter. Parallel Advisors LLC now owns 1,708 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 598 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of National Storage Affiliates Trust by 48.9% in the fourth quarter. Venturi Wealth Management LLC now owns 2,161 shares of the real estate investment trust’s stock valued at $82,000 after acquiring an additional 710 shares during the last quarter. 99.97% of the stock is currently owned by institutional investors.

National Storage Affiliates Trust Price Performance

National Storage Affiliates Trust stock opened at $32.39 on Friday. National Storage Affiliates Trust has a 12 month low of $30.88 and a 12 month high of $49.44. The stock’s 50 day moving average is $35.09 and its 200-day moving average is $36.92. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 54.89 and a beta of 1.14.

National Storage Affiliates Trust (NYSE:NSA) last posted its earnings results on Monday, May 5th. The real estate investment trust reported $0.54 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.02). National Storage Affiliates Trust had a net margin of 8.59% and a return on equity of 4.59%. The firm had revenue of $188.35 million during the quarter, compared to analyst estimates of $184.65 million. During the same period in the previous year, the company posted $0.60 EPS. National Storage Affiliates Trust’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts expect that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend is Friday, June 13th. National Storage Affiliates Trust’s payout ratio is 386.44%.

Analyst Upgrades and Downgrades

NSA has been the topic of a number of recent research reports. Robert W. Baird lowered their target price on National Storage Affiliates Trust from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Truist Financial set a $37.00 target price on National Storage Affiliates Trust and gave the company a “hold” rating in a research report on Monday, May 19th. Barclays lowered their price target on National Storage Affiliates Trust from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 12th. Morgan Stanley downgraded National Storage Affiliates Trust from an “equal weight” rating to an “underweight” rating and set a $30.00 price target on the stock. in a research report on Tuesday, May 27th. Finally, Wells Fargo & Company lowered their price target on National Storage Affiliates Trust from $40.00 to $38.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, National Storage Affiliates Trust presently has an average rating of “Hold” and a consensus price target of $39.75.

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.