National Storage Affiliates Trust (NYSE:NSA) Trading Down 3.3% - Here's What Happened

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) fell 3.3% during mid-day trading on Wednesday . The company traded as low as $37.77 and last traded at $37.72. 280,104 shares changed hands during trading, a decline of 52% from the average session volume of 588,857 shares. The stock had previously closed at $39.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of National Storage Affiliates Trust from $40.00 to $38.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Barclays reduced their target price on shares of National Storage Affiliates Trust from $42.00 to $41.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Robert W. Baird lowered their price target on shares of National Storage Affiliates Trust from $42.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of National Storage Affiliates Trust from a "sell" rating to a "hold" rating and decreased their price objective for the company from $40.00 to $38.00 in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $42.06.

National Storage Affiliates Trust Price Performance

The stock has a market capitalization of $2.68 billion, a PE ratio of 20.54 and a beta of 1.07. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.35. The firm's 50-day moving average price is $37.93 and its 200-day moving average price is $40.74.

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National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.41. The firm had revenue of $190.12 million for the quarter, compared to the consensus estimate of $185.37 million. National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. On average, equities analysts forecast that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.28 annualized dividend and a yield of 6.49%. National Storage Affiliates Trust's payout ratio is 200.00%.

Insider Buying and Selling

In other National Storage Affiliates Trust news, Director Michael J. Schall acquired 4,000 shares of the business's stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $38.54 per share, with a total value of $154,160.00. Following the transaction, the director now directly owns 6,000 shares of the company's stock, valued at $231,240. The trade was a 200.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 13.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On National Storage Affiliates Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NSA. Versant Capital Management Inc boosted its holdings in shares of National Storage Affiliates Trust by 233.6% in the fourth quarter. Versant Capital Management Inc now owns 734 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 514 shares during the period. Fourth Dimension Wealth LLC bought a new position in shares of National Storage Affiliates Trust during the fourth quarter valued at approximately $28,000. Quarry LP increased its holdings in National Storage Affiliates Trust by 444.7% during the fourth quarter. Quarry LP now owns 926 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 756 shares during the period. GF Fund Management CO. LTD. purchased a new stake in National Storage Affiliates Trust during the fourth quarter worth $50,000. Finally, Venturi Wealth Management LLC boosted its position in National Storage Affiliates Trust by 48.9% during the 4th quarter. Venturi Wealth Management LLC now owns 2,161 shares of the real estate investment trust's stock valued at $82,000 after acquiring an additional 710 shares in the last quarter. Institutional investors own 99.97% of the company's stock.

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.