Heartland Advisors Inc. Grows Position in National Storage Affiliates Trust $NSA

Heartland Advisors Inc. raised its stake in shares of National Storage Affiliates Trust (NYSE:NSA) by 47.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 646,200 shares of the real estate investment trust’s stock after purchasing an additional 207,300 shares during the quarter. National Storage Affiliates Trust makes up approximately 1.0% of Heartland Advisors Inc.’s portfolio, making the stock its 18th largest holding. Heartland Advisors Inc.’s holdings in National Storage Affiliates Trust were worth $19,528,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Peregrine Capital Management LLC lifted its stake in shares of National Storage Affiliates Trust by 7.0% in the 2nd quarter. Peregrine Capital Management LLC now owns 147,013 shares of the real estate investment trust’s stock worth $4,703,000 after purchasing an additional 9,593 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in National Storage Affiliates Trust by 258.0% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 118,476 shares of the real estate investment trust’s stock worth $3,580,000 after buying an additional 85,382 shares in the last quarter. Capital Fund Management S.A. bought a new position in shares of National Storage Affiliates Trust in the second quarter worth about $1,167,000. Norges Bank purchased a new position in shares of National Storage Affiliates Trust during the 2nd quarter valued at about $21,991,000. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of National Storage Affiliates Trust by 35.6% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 122,774 shares of the real estate investment trust’s stock valued at $3,710,000 after buying an additional 32,252 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NSA. Mizuho upped their price target on shares of National Storage Affiliates Trust from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Truist Financial upped their price objective on National Storage Affiliates Trust from $30.00 to $33.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. National Bank Financial set a $32.00 target price on National Storage Affiliates Trust in a research note on Friday, December 5th. KeyCorp restated a “sector weight” rating on shares of National Storage Affiliates Trust in a research note on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of National Storage Affiliates Trust in a report on Thursday, January 22nd. Ten analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $32.30.

National Storage Affiliates Trust Stock Performance

Shares of NYSE:NSA opened at $33.46 on Tuesday. The firm has a fifty day simple moving average of $30.80 and a two-hundred day simple moving average of $30.63. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 2.74. The stock has a market capitalization of $2.57 billion, a P/E ratio of 54.85 and a beta of 1.19. National Storage Affiliates Trust has a 52 week low of $27.43 and a 52 week high of $40.62.

National Storage Affiliates Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, March 13th. National Storage Affiliates Trust’s dividend payout ratio (DPR) is presently 373.77%.

National Storage Affiliates Trust Profile

National Storage Affiliates Trust is a publicly traded real estate investment trust (REIT) focused on the ownership and operation of self-storage properties in the United States. Since its initial public offering in August 2015, NSA has pursued a growth strategy built on strategic acquisitions and partnerships, establishing a diversified portfolio of assets backed by a centralized support platform. The Trust’s model combines the scalability of a national REIT with the local expertise of affiliate operators.

The company’s core business involves providing flexible storage solutions to both individual and commercial customers.