Malaga Cove Capital LLC Makes New Investment in National Storage Affiliates Trust (NYSE:NSA)

Malaga Cove Capital LLC acquired a new position in National Storage Affiliates Trust (NYSE:NSA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,974 shares of the real estate investment trust’s stock, valued at approximately $289,000.

Several other institutional investors have also added to or reduced their stakes in the business. Jennison Associates LLC lifted its stake in shares of National Storage Affiliates Trust by 3.1% during the fourth quarter. Jennison Associates LLC now owns 1,353,607 shares of the real estate investment trust’s stock worth $56,134,000 after buying an additional 41,193 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in National Storage Affiliates Trust by 8.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,339,319 shares of the real estate investment trust’s stock worth $42,510,000 after buying an additional 106,395 shares during the period. Massachusetts Financial Services Co. MA raised its position in National Storage Affiliates Trust by 5.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,259,860 shares of the real estate investment trust’s stock worth $39,988,000 after buying an additional 64,920 shares during the last quarter. Anchor Capital Advisors LLC raised its position in National Storage Affiliates Trust by 6.5% during the 4th quarter. Anchor Capital Advisors LLC now owns 1,020,629 shares of the real estate investment trust’s stock worth $42,325,000 after buying an additional 62,146 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in National Storage Affiliates Trust by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 996,256 shares of the real estate investment trust’s stock valued at $31,621,000 after acquiring an additional 20,940 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.

National Storage Affiliates Trust Price Performance

Shares of NYSE:NSA traded up $0.35 during midday trading on Friday, reaching $36.06. 621,345 shares of the company’s stock traded hands, compared to its average volume of 684,420. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.95 and a current ratio of 1.01. The company has a market cap of $2.88 billion, a P/E ratio of 18.88 and a beta of 0.87. National Storage Affiliates Trust has a 1 year low of $27.86 and a 1 year high of $42.54. The company has a fifty day simple moving average of $36.82 and a two-hundred day simple moving average of $36.14.

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

National Storage Affiliates Trust Announces Dividend

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

Analysts Set New Price Targets

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

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.