Meritage Portfolio Management Acquires 64,082 Shares of National Storage Affiliates Trust (NYSE:NSA)

Meritage Portfolio Management grew its position in National Storage Affiliates Trust (NYSE:NSA) by 95.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 131,191 shares of the real estate investment trust’s stock after purchasing an additional 64,082 shares during the quarter. Meritage Portfolio Management owned approximately 0.16% of National Storage Affiliates Trust worth $5,440,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Whittier Trust Co. increased its stake in shares of National Storage Affiliates Trust by 3,949.9% in the fourth quarter. Whittier Trust Co. now owns 126,721 shares of the real estate investment trust’s stock worth $5,255,000 after buying an additional 123,592 shares during the period. Ranger Global Real Estate Advisors LLC bought a new stake in National Storage Affiliates Trust in the third quarter valued at $3,791,000. Vaughan Nelson Investment Management L.P. boosted its holdings in National Storage Affiliates Trust by 8.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,339,319 shares of the real estate investment trust’s stock valued at $42,510,000 after acquiring an additional 106,395 shares in the last quarter. Callodine Capital Management LP boosted its holdings in National Storage Affiliates Trust by 42.6% in the third quarter. Callodine Capital Management LP now owns 228,239 shares of the real estate investment trust’s stock valued at $7,244,000 after acquiring an additional 68,239 shares in the last quarter. Finally, Allstate Corp boosted its holdings in National Storage Affiliates Trust by 455.8% in the third quarter. Allstate Corp now owns 82,576 shares of the real estate investment trust’s stock valued at $2,621,000 after acquiring an additional 67,720 shares in the last quarter. 99.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of National Storage Affiliates Trust in a report on Tuesday, January 30th. They set a “sell” rating and a $33.00 target price on the stock. Barclays began coverage on shares of National Storage Affiliates Trust in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $39.00 price target for the company. Truist Financial boosted their price objective on National Storage Affiliates Trust from $35.00 to $37.00 and gave the company a “hold” rating in a research note on Thursday, December 28th. Finally, KeyCorp upgraded National Storage Affiliates Trust from a “sector weight” rating to an “overweight” rating and set a $45.00 price target for the company in a research note on Friday, January 5th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.60.

National Storage Affiliates Trust Trading Down 0.5 %

NSA stock traded down $0.19 during midday trading on Friday, reaching $34.98. The company’s stock had a trading volume of 332,601 shares, compared to its average volume of 798,993. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a fifty day simple moving average of $36.93 and a two-hundred day simple moving average of $35.96. National Storage Affiliates Trust has a 1 year low of $27.86 and a 1 year high of $42.54. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 23.45 and a beta of 0.85.

National Storage Affiliates Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date of this dividend was Thursday, March 14th. National Storage Affiliates Trust’s payout ratio is 149.33%.

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.