According to the most recent disclosure filed with the Securities & Exchange Commission, Hunter Perkins Capital Management LLC has reduced its holdings in National Storage Affiliates Trust (NSA) by 30.1% during the second quarter. The firm now owns 8,650 shares of NSA’s stock, after selling 3,733 shares during the same period. At the time of this filing, these holdings were valued at $301,000.
National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado. Its primary focus lies in the ownership, operation, and acquisition of self-storage properties located within the top 100 metropolitan statistical areas across the United States. As of June 30, 2023, the company operated and owned interests in 1,117 self-storage properties across 42 states as well as Puerto Rico. These properties encompass approximately 72.8 million rentable square feet.
The company recently disclosed its plans to distribute a quarterly dividend on Friday, September 29th. Shareholders of record on Friday, September 15th will receive a dividend of $0.56 per share. This dividend translates to an annualized basis payout of $2.24 and reflects a dividend yield of 6.88%. The ex-dividend date for this particular payment is Thursday, September 14th.
It is worth noting that National Storage Affiliates Trust’s dividend payout ratio (DPR) stands at a staggering 215.39%. This figure represents the percentage of earnings paid out as dividends to shareholders.
Overall, Hunter Perkins Capital Management LLC’s reduction in holdings for National Storage Affiliates Trust suggests a shift in their investment strategy or perhaps a reassessment of NSA’s potential value within their portfolio. Meanwhile, investors await the upcoming quarterly dividend payment scheduled for September 29th and contemplate its impact on their own portfolios moving forward.
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Hedge Funds and Institutional Investors Flock to National Storage Affiliates Trust
National Storage Affiliates Trust (NSA), a real estate investment trust based in Greenwood Village, Colorado, has caught the attention of various hedge funds and institutional investors. The company has witnessed notable activity in terms of buying and selling shares by Centaurus Financial Inc., Truist Financial Corp, Virtu Financial LLC, Moseley Investment Management Inc., and Gilman Hill Asset Management LLC.
Centaurus Financial Inc. significantly increased its stake in shares of National Storage Affiliates Trust during the first quarter, raising it by 111.9%. This move resulted in Centaurus Financial now owning 130,226 shares of the company’s stock valued at $5,441,000 after acquiring an additional 68,763 shares.
Similarly, Truist Financial Corp also saw a substantial increase in its position in National Storage Affiliates Trust during the first quarter. The company now holds 51,383 shares valued at $2,147,000 after purchasing an additional 15,772 shares.
Virtu Financial LLC took advantage of a new opportunity during the first quarter as well. It entered into a position with National Storage Affiliates Trust worth $216,000.
Moseley Investment Management Inc. chose to incrementally grow its stake during the second quarter. With an additional purchase of 1,162 shares on top of its existing holdings, Moseley Investment Management now owns 25,102 shares valued at $874,000.
Lastly, Gilman Hill Asset Management LLC increased its stake in National Storage Affiliates Trust by 22.4% during the first quarter. Following this transaction, Gilman Hill Asset Management’s ownership stands at 12,575 shares worth $525,000.
It is interesting to note that hedge funds and other institutional investors collectively possess approximately 83.63% of National Storage Affiliates Trust’s stock.
On Wednesday, September 27th , National Storage Affiliates Trust opened at $32.54. The company boasts a quick ratio and current ratio both standing at 0.54, while it maintains a debt-to-equity ratio of 1.78. Over the past year, its stock has traded between a low of $30.91 and a high of $44.78.
With an impressive market capitalization of $2.90 billion, National Storage Affiliates Trust is worth mentioning in the real estate investment trust sector. It carries a price-to-earnings ratio of 31.29 and a price-to-earnings-growth ratio of 6.62, along with a beta value of 0.71.
The stock’s performance over the last 50 days shows an average moving price of $33.57, while its 200-day moving average is slightly higher at $36.43.
National Storage Affiliates Trust focuses on owning, operating, and acquiring self-storage properties primarily in the top 100 metropolitan statistical areas across the United States. As per its most recent filings from June 30th, 2023, the company holds ownership interests in and operates 1,117 self-storage properties spanning across 42 states and Puerto Rico, with approximately 72.8 million rentable square feet.
Research reports have shed light on National Storage Affiliates Trust as well. Truist Financial reduced its price target on NSA from $40 to $35 and issued a “hold” rating on the stock in August 2023. Stifel Nicolaus also downgraded the company from “buy” to “hold,” lowering their target price from $47 to $35 in early August.
Furthermore, Morgan Stanley adjusted its target price downwards from $42 to $32 while maintaining an “equal weight” rating on September 21st . Wells Fargo & Company followed suit by reducing their target price from $36 to $34 and issuing an “underweight” rating on the stock in early August.
Lastly, Citigroup decreased its target price from $41 to $36 and assigned a “neutral” rating on August 24th . Overall, analysts have delivered mixed views on National Storage Affiliates Trust, with three suggesting to sell, eight recommending holding, and two endorsing buying the company’s stock. According to data compiled by Bloomberg, the average rating among analysts is “Hold,” with a consensus target price of $39.60.
For more detailed information on National Storage Affiliates Trust and its latest updates, readers can refer to the latest report available.
