Citigroup Inc. Buys 76,652 Shares of National Storage Affiliates Trust (NYSE:NSA)

Citigroup Inc. raised its holdings in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 238.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 108,734 shares of the real estate investment trust's stock after acquiring an additional 76,652 shares during the quarter. Citigroup Inc. owned 0.14% of National Storage Affiliates Trust worth $5,241,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Trust N.A. raised its position in shares of National Storage Affiliates Trust by 9.8% in the 3rd quarter. Raymond James Trust N.A. now owns 8,427 shares of the real estate investment trust's stock valued at $406,000 after purchasing an additional 751 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in National Storage Affiliates Trust by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 989,045 shares of the real estate investment trust's stock worth $47,672,000 after buying an additional 43,074 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in National Storage Affiliates Trust during the 3rd quarter worth $5,406,000. J. W. Coons Advisors LLC grew its stake in shares of National Storage Affiliates Trust by 19.9% in the third quarter. J. W. Coons Advisors LLC now owns 7,000 shares of the real estate investment trust's stock worth $337,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in shares of National Storage Affiliates Trust by 91.2% during the third quarter. Quest Partners LLC now owns 32,971 shares of the real estate investment trust's stock valued at $1,589,000 after purchasing an additional 15,729 shares during the period. Institutional investors and hedge funds own 99.97% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the company an "underweight" rating in a research note on Monday, October 21st. Citigroup boosted 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. Evercore ISI boosted their price objective on National Storage Affiliates Trust from $40.00 to $41.00 and gave the stock an "underperform" rating in a report on Monday, September 16th. Jefferies Financial Group lifted their target price on 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. Finally, Robert W. Baird lifted their target price on National Storage Affiliates Trust from $39.00 to $42.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $43.17.

National Storage Affiliates Trust Stock Performance

Shares of NSA stock traded down $1.10 during trading hours on Tuesday, reaching $43.70. 566,044 shares of the company's stock were exchanged, compared to its average volume of 709,995. National Storage Affiliates Trust has a fifty-two week low of $34.49 and a fifty-two week high of $49.44. The stock has a market capitalization of $3.33 billion, a P/E ratio of 25.54 and a beta of 1.01. The business has a fifty day moving average price of $44.36 and a 200-day moving average price of $43.17. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.35.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.42). The business had revenue of $174.80 million for the quarter, compared to analyst estimates of $185.45 million. National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The firm's quarterly revenue was down 20.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share. Analysts predict that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.22%. This is a positive change from National Storage Affiliates Trust's previous quarterly dividend of $0.56. The ex-dividend date is Friday, December 13th. National Storage Affiliates Trust's dividend payout ratio is presently 130.99%.

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.