Franklin Resources Inc. Boosts Holdings in National Storage Affiliates Trust (NYSE:NSA)

Franklin Resources Inc. boosted its holdings in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 48.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,051 shares of the real estate investment trust's stock after acquiring an additional 42,241 shares during the quarter. Franklin Resources Inc. owned 0.17% of National Storage Affiliates Trust worth $5,769,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in National Storage Affiliates Trust by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,333,260 shares of the real estate investment trust's stock valued at $64,277,000 after acquiring an additional 4,897 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of National Storage Affiliates Trust by 11.2% in the third quarter. Quantinno Capital Management LP now owns 176,744 shares of the real estate investment trust's stock valued at $8,519,000 after purchasing an additional 17,810 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of National Storage Affiliates Trust by 19.7% during the third quarter. Integrated Wealth Concepts LLC now owns 6,583 shares of the real estate investment trust's stock valued at $317,000 after purchasing an additional 1,082 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in National Storage Affiliates Trust during the third quarter worth about $1,367,000. Finally, Edgestream Partners L.P. boosted its holdings in National Storage Affiliates Trust by 61.1% during the third quarter. Edgestream Partners L.P. now owns 149,221 shares of the real estate investment trust's stock worth $7,192,000 after purchasing an additional 56,582 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Evercore ISI lifted their target price on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the stock an "underperform" rating in a research report on Monday, September 16th. KeyCorp downgraded National Storage Affiliates Trust from an "overweight" rating to a "sector weight" rating in a research note on Monday, September 9th. Barclays lifted their target price on National Storage Affiliates Trust from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Monday, October 28th. Wells Fargo & Company increased their price target on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the company an "underweight" rating in a research report on Monday, October 21st. Finally, Citigroup lifted their price objective on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a "neutral" rating in a research report on Friday, August 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $43.17.

National Storage Affiliates Trust Stock Performance

Shares of NSA traded up $0.15 during trading hours on Tuesday, hitting $38.05. The company's stock had a trading volume of 177,468 shares, compared to its average volume of 707,241. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 22.25 and a beta of 1.01. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50 day simple moving average of $42.92 and a two-hundred day simple moving average of $43.64. National Storage Affiliates Trust has a 52-week low of $34.50 and a 52-week high of $49.44.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share (EPS) 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 business had revenue of $174.80 million for the quarter, compared to the consensus estimate of $185.45 million. During the same period in the previous year, the firm earned $0.67 EPS. The company's revenue was down 20.2% compared to the same quarter last year. On average, equities analysts expect that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

National Storage Affiliates Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.28 annualized dividend and a yield of 5.99%. This is an increase from National Storage Affiliates Trust's previous quarterly dividend of $0.56. National Storage Affiliates Trust's dividend payout ratio (DPR) is currently 133.33%.

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.