Harbor Capital Advisors Inc. Trims Stake in National Storage Affiliates Trust (NYSE:NSA)

Harbor Capital Advisors Inc. lowered its stake in shares of National Storage Affiliates Trust (NYSE:NSA) by 12.6% in the third quarter, HoldingsChannel.com reports. The firm owned 46,192 shares of the real estate investment trust’s stock after selling 6,636 shares during the period. Harbor Capital Advisors Inc.’s holdings in National Storage Affiliates Trust were worth $2,226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Pasadena Private Wealth LLC raised its stake in shares of National Storage Affiliates Trust by 0.9% in the second quarter. Pasadena Private Wealth LLC now owns 28,764 shares of the real estate investment trust’s stock valued at $1,186,000 after acquiring an additional 255 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in National Storage Affiliates Trust by 3.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,009 shares of the real estate investment trust’s stock valued at $386,000 after buying an additional 257 shares during the last quarter. SPC Financial Inc. boosted its stake in National Storage Affiliates Trust by 4.8% during the 2nd quarter. SPC Financial Inc. now owns 6,500 shares of the real estate investment trust’s stock worth $268,000 after purchasing an additional 300 shares during the period. Clear Creek Financial Management LLC grew its holdings in shares of National Storage Affiliates Trust by 1.5% during the second quarter. Clear Creek Financial Management LLC now owns 22,513 shares of the real estate investment trust’s stock worth $928,000 after buying an additional 339 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of National Storage Affiliates Trust by 1.9% in the second quarter. Crossmark Global Holdings Inc. now owns 18,644 shares of the real estate investment trust’s stock valued at $768,000 after purchasing an additional 354 shares during the period. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

National Storage Affiliates Trust Price Performance

National Storage Affiliates Trust stock opened at $41.97 on Tuesday. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $3.15 billion, a P/E ratio of 24.54 and a beta of 0.99. The firm’s 50-day moving average is $45.69 and its two-hundred day moving average is $42.08. National Storage Affiliates Trust has a 12-month low of $29.55 and a 12-month high of $49.44.

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

National Storage Affiliates Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date was Friday, September 13th. National Storage Affiliates Trust’s dividend payout ratio (DPR) is presently 130.99%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial increased their price objective on National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a research report on Friday, August 16th. KeyCorp cut National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a report on Monday, September 9th. Citigroup lifted their price objective on National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a “neutral” rating in a report on Friday, August 30th. Jefferies Financial Group upped their target price on National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Evercore ISI boosted their price objective on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the stock an “underperform” rating in a research report on Monday, September 16th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.83.

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.