Massachusetts Financial Services Co. MA Reduces Holdings in National Storage Affiliates Trust (NYSE:NSA)

Massachusetts Financial Services Co. MA decreased its position in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,205,944 shares of the real estate investment trust's stock after selling 33,963 shares during the period. Massachusetts Financial Services Co. MA owned 1.58% of National Storage Affiliates Trust worth $58,127,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in National Storage Affiliates Trust during the 3rd quarter valued at approximately $29,000. Bellevue Asset Management LLC purchased a new stake in National Storage Affiliates Trust during the 3rd quarter valued at approximately $39,000. Northwestern Mutual Wealth Management Co. purchased a new stake in National Storage Affiliates Trust during the 2nd quarter valued at approximately $33,000. Ashton Thomas Private Wealth LLC purchased a new stake in National Storage Affiliates Trust during the 2nd quarter valued at approximately $39,000. Finally, Rothschild Investment LLC purchased a new stake in National Storage Affiliates Trust during the 2nd quarter valued at approximately $59,000. Institutional investors own 99.97% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NSA. Jefferies Financial Group raised their target price on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Citigroup raised their target price on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a "neutral" rating in a report on Friday, August 30th. Barclays raised their target price on shares of National Storage Affiliates Trust from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Monday, October 28th. Robert W. Baird lifted their price objective on shares of National Storage Affiliates Trust from $39.00 to $42.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 6th. Finally, Truist Financial lifted their price objective on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a "hold" rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $43.17.

National Storage Affiliates Trust Stock Up 2.0 %

Shares of NSA stock traded up $0.90 on Monday, hitting $45.25. The stock had a trading volume of 471,558 shares, compared to its average volume of 711,934. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.35. The business has a 50 day moving average price of $44.76 and a 200 day moving average price of $42.83. The company has a market cap of $3.45 billion, a PE ratio of 25.94 and a beta of 0.99. National Storage Affiliates Trust has a one year low of $32.42 and a one year high of $49.44.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $174.80 million during the quarter, compared to analysts' expectations of $185.45 million. During the same quarter last year, the firm earned $0.67 EPS. National Storage Affiliates Trust's revenue for the quarter was down 20.2% on a year-over-year basis. Research analysts anticipate that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The firm also recently declared 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 is a positive change from National Storage Affiliates Trust's previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.04%. National Storage Affiliates Trust's payout ratio is presently 130.99%.

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.