Massachusetts Financial Services Co. MA Has $58.13 Million Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Massachusetts Financial Services Co. MA lessened its stake in National Storage Affiliates Trust (NYSE:NSA) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,205,944 shares of the real estate investment trust’s stock after selling 33,963 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.58% of National Storage Affiliates Trust worth $58,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in National Storage Affiliates Trust by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 2,537,362 shares of the real estate investment trust’s stock worth $122,301,000 after purchasing an additional 22,454 shares during the period. Leeward Investments LLC MA boosted its stake in shares of National Storage Affiliates Trust by 30.9% during the 2nd quarter. Leeward Investments LLC MA now owns 414,734 shares of the real estate investment trust’s stock worth $17,095,000 after acquiring an additional 97,786 shares during the period. Swedbank AB acquired a new position in shares of National Storage Affiliates Trust during the 1st quarter worth approximately $16,056,000. Long Pond Capital LP acquired a new position in shares of National Storage Affiliates Trust during the 2nd quarter worth approximately $16,198,000. Finally, Sei Investments Co. raised its stake 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 valued at $16,034,000 after acquiring an additional 32,544 shares during the period. 99.97% of the stock is owned by institutional investors.

National Storage Affiliates Trust Stock Up 0.4 %

Shares of NSA opened at $44.35 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.35. National Storage Affiliates Trust has a 12 month low of $32.42 and a 12 month high of $49.44. The firm’s 50 day moving average is $44.76 and its 200-day moving average is $42.79. The stock has a market capitalization of $3.38 billion, a PE ratio of 25.94 and a beta of 0.99.

National Storage Affiliates Trust (NYSE:NSA) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.42). The company had revenue of $174.80 million for the quarter, compared to the consensus estimate of $185.45 million. National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. National Storage Affiliates Trust’s revenue was down 20.2% on a year-over-year basis. During the same quarter last year, the business earned $0.67 EPS. Equities research analysts forecast that National Storage Affiliates Trust will post 2.4 EPS for the current year.

National Storage Affiliates Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 5.14%. 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 presently 133.33%.

Analysts Set New Price Targets

A number of research firms have commented on NSA. Barclays lifted their price objective on shares of National Storage Affiliates Trust from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. KeyCorp lowered shares of National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Citigroup raised 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. Truist Financial upped their target price on National Storage Affiliates Trust from $38.00 to $41.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Finally, Wells Fargo & Company increased their target price on National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $43.17.

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.