Principal Financial Group Inc. Sells 70,299 Shares of National Storage Affiliates Trust (NYSE:NSA)

Principal Financial Group Inc. trimmed its holdings in shares of National Storage Affiliates Trust (NYSE:NSA - Free Report) by 30.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 161,940 shares of the real estate investment trust's stock after selling 70,299 shares during the quarter. Principal Financial Group Inc. owned about 0.22% of National Storage Affiliates Trust worth $7,806,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NSA. Bellevue Asset Management LLC purchased a new position in shares of National Storage Affiliates Trust in the 3rd quarter worth about $39,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of National Storage Affiliates Trust during the second quarter valued at about $33,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of National Storage Affiliates Trust in the second quarter worth about $39,000. Rothschild Investment LLC bought a new stake in shares of National Storage Affiliates Trust in the 2nd quarter valued at about $59,000. Finally, GAMMA Investing LLC grew its position in National Storage Affiliates Trust by 174.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,457 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 927 shares during the last quarter. 99.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NSA has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an "underweight" rating in a report on Monday, October 21st. Citigroup upped their price objective on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a "neutral" rating in a research note on Friday, August 30th. Evercore ISI boosted their price target 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. KeyCorp cut National Storage Affiliates Trust from an "overweight" rating to a "sector weight" rating in a report on Monday, September 9th. Finally, Jefferies Financial Group upped their target price on National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $43.17.

National Storage Affiliates Trust Stock Down 1.2 %

NYSE NSA traded down $0.53 during trading hours on Wednesday, reaching $43.71. 299,074 shares of the company's stock traded hands, compared to its average volume of 712,763. National Storage Affiliates Trust has a 52-week low of $32.42 and a 52-week high of $49.44. 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 firm has a 50-day simple moving average of $44.95 and a 200 day simple moving average of $42.67. The firm has a market cap of $3.33 billion, a PE ratio of 25.64 and a beta of 0.99.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last released 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 business had revenue of $174.80 million for the quarter, compared to analysts' expectations of $185.45 million. During the same quarter in the previous year, the business posted $0.67 earnings per share. National Storage Affiliates Trust's revenue for the quarter was down 20.2% on a year-over-year basis. Sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 5.22%. This is an increase 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 133.33%.

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.