Franklin Resources Inc. Lowers Stock Position in National Storage Affiliates Trust $NSA

Franklin Resources Inc. cut its stake in shares of National Storage Affiliates Trust (NYSE:NSA) by 86.7% in the second quarter, Holdings Channel.com reports. The fund owned 28,579 shares of the real estate investment trust’s stock after selling 185,545 shares during the period. Franklin Resources Inc.’s holdings in National Storage Affiliates Trust were worth $914,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Nuveen LLC purchased a new position in shares of National Storage Affiliates Trust during the 1st quarter worth approximately $23,134,000. Jennison Associates LLC raised its position in National Storage Affiliates Trust by 38.5% in the second quarter. Jennison Associates LLC now owns 1,485,145 shares of the real estate investment trust’s stock valued at $47,510,000 after purchasing an additional 413,173 shares during the period. MetLife Investment Management LLC lifted its stake in National Storage Affiliates Trust by 630.5% during the first quarter. MetLife Investment Management LLC now owns 303,860 shares of the real estate investment trust’s stock worth $11,972,000 after purchasing an additional 262,265 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in National Storage Affiliates Trust during the second quarter worth $4,419,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of National Storage Affiliates Trust during the first quarter worth $5,165,000. 99.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NSA shares. Mizuho cut their price objective on National Storage Affiliates Trust from $34.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday. Wall Street Zen upgraded shares of National Storage Affiliates Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Evercore ISI increased their price target on shares of National Storage Affiliates Trust from $31.00 to $32.00 and gave the stock an “underperform” rating in a research report on Monday, September 15th. Weiss Ratings restated a “hold (c-)” rating on shares of National Storage Affiliates Trust in a report on Wednesday, October 8th. Finally, Zacks Research lowered shares of National Storage Affiliates Trust from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Nine equities research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, National Storage Affiliates Trust presently has an average rating of “Reduce” and an average target price of $33.27.

National Storage Affiliates Trust Stock Performance

Shares of National Storage Affiliates Trust stock opened at $29.61 on Friday. The business has a 50-day simple moving average of $30.17 and a 200-day simple moving average of $31.32. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.25 and a current ratio of 0.25. National Storage Affiliates Trust has a one year low of $28.02 and a one year high of $43.88. The company has a market cap of $2.28 billion, a PE ratio of 48.53 and a beta of 1.19.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. National Storage Affiliates Trust had a net margin of 8.94% and a return on equity of 5.09%. The company had revenue of $188.70 million during the quarter, compared to the consensus estimate of $184.04 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. National Storage Affiliates Trust has set its FY 2025 guidance at 2.170-2.230 EPS. On average, equities research analysts forecast that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

National Storage Affiliates Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.57 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.28 dividend on an annualized basis and a yield of 7.7%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is currently 373.77%.

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.