Jennison Associates LLC Acquires 41,193 Shares of National Storage Affiliates Trust (NYSE:NSA)

Jennison Associates LLC grew its holdings in National Storage Affiliates Trust (NYSE:NSA) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,353,607 shares of the real estate investment trust’s stock after acquiring an additional 41,193 shares during the period. Jennison Associates LLC owned 1.63% of National Storage Affiliates Trust worth $56,134,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its stake in shares of National Storage Affiliates Trust by 2.1% in the fourth quarter. Handelsbanken Fonder AB now owns 14,816 shares of the real estate investment trust’s stock worth $614,000 after purchasing an additional 300 shares in the last quarter. Advisory Alpha LLC increased its stake in shares of National Storage Affiliates Trust by 0.5% in the fourth quarter. Advisory Alpha LLC now owns 72,569 shares of the real estate investment trust’s stock worth $3,009,000 after purchasing an additional 369 shares in the last quarter. Allworth Financial LP increased its stake in shares of National Storage Affiliates Trust by 83.6% in the third quarter. Allworth Financial LP now owns 828 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 377 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of National Storage Affiliates Trust by 4.3% in the third quarter. Van ECK Associates Corp now owns 9,424 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 391 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its stake in shares of National Storage Affiliates Trust by 2.7% in the third quarter. UniSuper Management Pty Ltd now owns 23,000 shares of the real estate investment trust’s stock worth $730,000 after purchasing an additional 600 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NSA has been the subject of several research analyst reports. KeyCorp raised shares of National Storage Affiliates Trust from a “sector weight” rating to an “overweight” rating and set a $45.00 target price for the company in a research note on Friday, January 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of National Storage Affiliates Trust in a research note on Tuesday, January 30th. They set a “sell” rating and a $33.00 target price for the company. Truist Financial raised their target price on shares of 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, Barclays began coverage on shares of National Storage Affiliates Trust in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $39.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.60.

National Storage Affiliates Trust Price Performance

National Storage Affiliates Trust stock opened at $35.55 on Wednesday. The firm has a 50-day moving average price of $36.97 and a 200-day moving average price of $35.97. The firm has a market capitalization of $2.84 billion, a PE ratio of 23.70 and a beta of 0.85. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 2.05. National Storage Affiliates Trust has a 12-month low of $27.86 and a 12-month high of $42.54.

National Storage Affiliates Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.56 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.24 annualized dividend and a dividend yield of 6.30%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is presently 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.