National Storage Affiliates Trust (NYSE:NSA) Shares Sold by Allstate Corp

Allstate Corp lessened its holdings in National Storage Affiliates Trust (NYSE:NSA) by 84.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,033 shares of the real estate investment trust’s stock after selling 69,543 shares during the period. Allstate Corp’s holdings in National Storage Affiliates Trust were worth $540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its holdings in shares of National Storage Affiliates Trust by 30.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 71,581 shares of the real estate investment trust’s stock worth $2,272,000 after acquiring an additional 16,608 shares during the period. Whittier Trust Co. raised its holdings in shares of National Storage Affiliates Trust by 3,949.9% during the fourth quarter. Whittier Trust Co. now owns 126,721 shares of the real estate investment trust’s stock valued at $5,255,000 after buying an additional 123,592 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of National Storage Affiliates Trust during the fourth quarter worth approximately $900,000. Heartland Advisors Inc. grew its holdings in National Storage Affiliates Trust by 55.0% in the 4th quarter. Heartland Advisors Inc. now owns 475,850 shares of the real estate investment trust’s stock worth $19,734,000 after buying an additional 168,825 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in National Storage Affiliates Trust by 5.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,259,860 shares of the real estate investment trust’s stock worth $39,988,000 after buying an additional 64,920 shares in the last quarter. Institutional investors own 99.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on NSA shares. Deutsche Bank Aktiengesellschaft assumed coverage on National Storage Affiliates Trust in a research note on Tuesday, January 30th. They set a “sell” rating and a $33.00 target price on the stock. Barclays started coverage on shares of National Storage Affiliates Trust in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $39.00 price objective for the company. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $36.44.

National Storage Affiliates Trust Price Performance

Shares of NYSE NSA traded down $0.60 during midday trading on Thursday, reaching $36.39. The company’s stock had a trading volume of 161,861 shares, compared to its average volume of 750,188. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.05. The company has a 50 day moving average price of $36.90 and a 200 day moving average price of $36.87. National Storage Affiliates Trust has a one year low of $27.86 and a one year high of $42.54. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 19.37 and a beta of 0.87.

National Storage Affiliates Trust (NYSE:NSA) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04. The business had revenue of $196.15 million for the quarter, compared to the consensus estimate of $191.70 million. National Storage Affiliates Trust had a net margin of 22.07% and a return on equity of 10.30%. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. On average, equities research analysts expect that National Storage Affiliates Trust will post 2.5 EPS for the current year.

National Storage Affiliates Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 6.16%. The ex-dividend date is Friday, June 14th. National Storage Affiliates Trust’s dividend payout ratio (DPR) is currently 117.28%.

National Storage Affiliates Trust Company 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.