Malaga Cove Capital LLC Buys Shares of 6,974 National Storage Affiliates Trust (NYSE:NSA)

Malaga Cove Capital LLC acquired a new stake in shares of National Storage Affiliates Trust (NYSE:NSA) during the fourth quarter, Holdings Channel reports. The fund acquired 6,974 shares of the real estate investment trust’s stock, valued at approximately $289,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Natixis Advisors L.P. increased its holdings in shares of National Storage Affiliates Trust by 3.9% in the 4th quarter. Natixis Advisors L.P. now owns 254,704 shares of the real estate investment trust’s stock valued at $10,562,000 after acquiring an additional 9,656 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of National Storage Affiliates Trust by 8.3% during the 4th quarter. Victory Capital Management Inc. now owns 16,425 shares of the real estate investment trust’s stock valued at $681,000 after buying an additional 1,263 shares during the last quarter. Van ECK Associates Corp raised its stake in National Storage Affiliates Trust by 20.9% during the fourth quarter. Van ECK Associates Corp now owns 11,398 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 1,974 shares during the period. Anchor Capital Advisors LLC raised its stake in National Storage Affiliates Trust by 6.5% during the fourth quarter. Anchor Capital Advisors LLC now owns 1,020,629 shares of the real estate investment trust’s stock worth $42,325,000 after acquiring an additional 62,146 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of National Storage Affiliates Trust by 2.4% in the 4th quarter. Truist Financial Corp now owns 53,175 shares of the real estate investment trust’s stock worth $2,205,000 after purchasing an additional 1,256 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NSA shares. KeyCorp raised shares of 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 report on Friday, January 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of National Storage Affiliates Trust in a research report on Tuesday, January 30th. They issued a “sell” rating and a $33.00 target price for the company. Finally, Barclays began coverage on National Storage Affiliates Trust in a report on Wednesday, March 27th. They set an “equal weight” rating and a $39.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.60.

National Storage Affiliates Trust Price Performance

Shares of NSA traded up $0.35 during mid-day trading on Friday, hitting $36.06. The company’s stock had a trading volume of 621,345 shares, compared to its average volume of 684,420. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 18.88 and a beta of 0.87. National Storage Affiliates Trust has a fifty-two week low of $27.86 and a fifty-two week high of $42.54. The firm has a 50-day moving average price of $36.82 and a 200 day moving average price of $36.14. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.01 and a quick ratio of 0.95.

National Storage Affiliates Trust (NYSE:NSA) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. The firm had revenue of $196.15 million during the quarter, compared to analyst estimates of $191.70 million. National Storage Affiliates Trust had a net margin of 22.07% and a return on equity of 10.30%. The company’s revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. On average, research analysts predict that National Storage Affiliates Trust will post 2.5 EPS for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.56 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.24 dividend on an annualized basis and a yield of 6.21%. National Storage Affiliates Trust’s payout ratio is presently 117.28%.

About National Storage Affiliates Trust

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.