National Storage Affiliates Trust (NYSE:NSA) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its holdings in National Storage Affiliates Trust (NYSE:NSA) by 6.6% during the 3rd quarter, Holdings Channel reports. The firm owned 795,310 shares of the real estate investment trust’s stock after selling 56,270 shares during the period. TimesSquare Capital Management LLC’s holdings in National Storage Affiliates Trust were worth $38,334,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans increased its position in National Storage Affiliates Trust by 3.8% during the second quarter. Thrivent Financial for Lutherans now owns 2,514,908 shares of the real estate investment trust’s stock worth $103,665,000 after buying an additional 90,925 shares in the last quarter. Leeward Investments LLC MA boosted its stake in shares of National Storage Affiliates Trust by 30.9% during the second quarter. Leeward Investments LLC MA now owns 414,734 shares of the real estate investment trust’s stock valued at $17,095,000 after acquiring an additional 97,786 shares during the last quarter. Swedbank AB purchased a new stake in National Storage Affiliates Trust during the 1st quarter worth about $16,056,000. Long Pond Capital LP acquired a new position in National Storage Affiliates Trust in the 2nd quarter valued at about $16,198,000. Finally, Sei Investments Co. lifted its holdings in National Storage Affiliates Trust by 9.1% in the 2nd quarter. Sei Investments Co. now owns 388,995 shares of the real estate investment trust’s stock valued at $16,034,000 after purchasing an additional 32,544 shares in the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of National Storage Affiliates Trust from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Evercore ISI increased their price target on National Storage Affiliates Trust from $40.00 to $41.00 and gave the stock an “underperform” rating in a research note on Monday, September 16th. Citigroup lifted their price objective on National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a research report on Friday, August 30th. Wells Fargo & Company increased their target price on National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group upped their price objective on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.17.

National Storage Affiliates Trust Price Performance

Shares of NSA opened at $43.68 on Friday. National Storage Affiliates Trust has a 52 week low of $29.55 and a 52 week high of $49.44. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.35. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 25.54 and a beta of 0.99. The stock has a 50 day moving average of $45.45 and a 200-day moving average of $42.25.

National Storage Affiliates Trust (NYSE:NSA) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.42). National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The business had revenue of $174.80 million during the quarter, compared to the consensus estimate of $185.45 million. During the same quarter in the previous year, the business posted $0.67 earnings per share. The company’s quarterly revenue was down 20.2% compared to the same quarter last year. As a group, analysts forecast that National Storage Affiliates Trust will post 2.41 EPS for the current year.

National Storage Affiliates Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.13%. The ex-dividend date of this dividend was Friday, September 13th. National Storage Affiliates Trust’s dividend payout ratio (DPR) is 130.99%.

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.