Short Interest in National Storage Affiliates Trust (NYSE:NSA) Drops By 24.5%

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,930,000 shares, a decline of 24.5% from the March 15th total of 3,880,000 shares. Based on an average daily trading volume, of 664,200 shares, the short-interest ratio is presently 4.4 days. Currently, 4.2% of the shares of the stock are short sold.

National Storage Affiliates Trust Trading Up 2.0 %

Shares of NYSE NSA traded up $0.71 during trading hours on Tuesday, hitting $36.13. The company's stock had a trading volume of 14,657 shares, compared to its average volume of 652,037. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 21.13 and a beta of 1.04. The business has a 50-day simple moving average of $37.21 and a 200-day simple moving average of $39.51. National Storage Affiliates Trust has a 12 month low of $30.88 and a 12 month high of $49.44.

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

National Storage Affiliates Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date was Friday, March 14th. National Storage Affiliates Trust's dividend payout ratio (DPR) is presently 200.00%.

Analysts Set New Price Targets

NSA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded National Storage Affiliates Trust from a "sell" rating to a "hold" rating and dropped their price target for the company from $40.00 to $38.00 in a research note on Friday, January 10th. Wells Fargo & Company dropped their target price on National Storage Affiliates Trust from $40.00 to $38.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. Mizuho began coverage on shares of National Storage Affiliates Trust in a research report on Wednesday, April 9th. They issued a "neutral" rating and a $35.00 price objective for the company. Robert W. Baird reduced their target price on National Storage Affiliates Trust from $42.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Finally, Barclays lowered their price objective on shares of National Storage Affiliates Trust from $42.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $41.28.

Insider Activity at National Storage Affiliates Trust

In other news, Director Michael J. Schall bought 4,000 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $38.54 per share, with a total value of $154,160.00. Following the acquisition, the director now directly owns 6,000 shares in the company, valued at $231,240. This represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On National Storage Affiliates Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc grew its holdings in National Storage Affiliates Trust by 233.6% during 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 purchased a new position in National Storage Affiliates Trust during the 4th quarter valued at $28,000. Quarry LP lifted its holdings in National Storage Affiliates Trust by 444.7% during the 4th 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 in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of National Storage Affiliates Trust in the fourth quarter valued at approximately $50,000. Finally, Parallel Advisors LLC lifted its holdings in shares of National Storage Affiliates Trust by 53.9% in the 1st quarter. Parallel Advisors LLC now owns 1,708 shares of the real estate investment trust's stock worth $67,000 after buying an additional 598 shares during the period. Hedge funds and other 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.