Principal Financial Group Inc. Reduces Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Principal Financial Group Inc. trimmed its position in National Storage Affiliates Trust (NYSE:NSA - Free Report) by 30.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 0.21% of National Storage Affiliates Trust worth $7,806,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its position in shares of 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 worth $103,665,000 after buying an additional 90,925 shares during the last quarter. Caxton Associates LP bought a new stake in National Storage Affiliates Trust in the second quarter valued at $1,553,000. Center Lake Capital Management LLC bought a new stake in National Storage Affiliates Trust in the second quarter valued at $2,885,000. Edgestream Partners L.P. increased its position 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 purchasing an additional 22,639 shares during the period. 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 worth $16,034,000 after purchasing an additional 32,544 shares in the last quarter. Hedge funds and other institutional investors own 99.97% of the company's stock.

National Storage Affiliates Trust Stock Up 1.5 %

Shares of NYSE NSA traded up $0.55 during midday trading on Wednesday, hitting $37.91. The stock had a trading volume of 734,564 shares, compared to its average volume of 704,122. The business's 50 day moving average is $42.05 and its 200-day moving average is $43.52. National Storage Affiliates Trust has a 52 week low of $34.50 and a 52 week high of $49.44. 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 company has a market cap of $2.89 billion, a P/E ratio of 22.17 and a beta of 1.01.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $185.45 million. During the same period last year, the company posted $0.67 earnings per share. The business's revenue was down 20.2% compared to the same quarter last year. As a group, analysts predict that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 6.01%. This is an increase from National Storage Affiliates Trust's previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Friday, December 13th. National Storage Affiliates Trust's dividend payout ratio (DPR) is presently 133.33%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NSA. Evercore ISI lifted their target price on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an "underperform" rating in a research note on Monday, September 16th. Jefferies Financial Group upped their target price on National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Wells Fargo & Company raised their target price on National Storage Affiliates Trust from $40.00 to $42.00 and gave the company an "underweight" rating in a research note on Monday, October 21st. Barclays lifted their price target on shares of National Storage Affiliates Trust from $45.00 to $46.00 and gave the company an "equal weight" rating in a research report on Monday, October 28th. Finally, Robert W. Baird upped 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 report on Wednesday, November 6th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, National Storage Affiliates Trust presently has an average rating of "Hold" and an average price target of $43.17.

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.