Jacobs Levy Equity Management Inc. Takes Position in National Storage Affiliates Trust (NYSE:NSA)

Jacobs Levy Equity Management Inc. bought a new stake in National Storage Affiliates Trust (NYSE:NSA - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 28,361 shares of the real estate investment trust's stock, valued at approximately $1,367,000.

Other institutional investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in National Storage Affiliates Trust by 3.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,514,908 shares of the real estate investment trust's stock valued at $103,665,000 after purchasing an additional 90,925 shares in the last quarter. Caxton Associates LP purchased a new position in shares of National Storage Affiliates Trust in the second quarter worth about $1,553,000. Center Lake Capital Management LLC acquired a new position in National Storage Affiliates Trust during the second quarter worth about $2,885,000. Edgestream Partners L.P. grew its stake in National Storage Affiliates Trust by 32.3% during the 2nd quarter. Edgestream Partners L.P. now owns 92,639 shares of the real estate investment trust's stock valued at $3,819,000 after acquiring an additional 22,639 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in National Storage Affiliates Trust by 9.1% in the 2nd quarter. Sei Investments Co. now owns 388,995 shares of the real estate investment trust's stock valued at $16,034,000 after acquiring an additional 32,544 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NSA shares. Citigroup boosted their price target on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a "neutral" rating in a research report on Friday, August 30th. Jefferies Financial Group boosted their target price on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Robert W. Baird increased their target price on National Storage Affiliates Trust from $39.00 to $42.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their price target on National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an "underweight" rating in a report on Monday, October 21st. Finally, Evercore ISI increased their price objective on National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an "underperform" rating in a 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 issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $43.17.

National Storage Affiliates Trust Stock Performance

NSA traded up $0.22 on Monday, hitting $43.62. 161,444 shares of the company traded hands, compared to its average volume of 704,528. The company has a 50 day moving average of $44.00 and a 200-day moving average of $43.33. National Storage Affiliates Trust has a 12-month low of $34.50 and a 12-month high of $49.44. The stock has a market capitalization of $3.33 billion, a PE ratio of 25.38 and a beta of 1.01. 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 posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.42). National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. The firm had revenue of $174.80 million during the quarter, compared to analysts' expectations of $185.45 million. During the same quarter last year, the business earned $0.67 earnings per share. The business's quarterly revenue was down 20.2% on a year-over-year basis. Sell-side analysts anticipate that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

National Storage Affiliates Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.23%. This is an increase from National Storage Affiliates Trust's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, December 13th. National Storage Affiliates Trust's dividend payout ratio is 130.99%.

National Storage Affiliates Trust Company 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.