Tower Research Capital LLC TRC has reduced its stake in National Storage Affiliates Trust (NYSE:NSA) by 50.7% during the first quarter of this year. According to the Form 13F filing with the Securities and Exchange Commission, Tower Research Capital LLC TRC currently owns 3,407 shares of the real estate investment trust’s stock, having sold 3,510 shares since the beginning of the quarter. The value of these holdings amounts to $142,000 as of the most recent filing.
National Storage Affiliates Trust is headquartered in Greenwood Village, Colorado and operates as a real estate investment trust (REIT). It primarily focuses on owning, operating, and acquiring self-storage properties across the top 100 metropolitan statistical areas in the United States. The company currently possesses ownership interests in and manages 1,117 self-storage properties located in 42 states and Puerto Rico. These properties cover approximately 72.8 million rentable square feet.
In addition to its recent divestment from National Storage Affiliates Trust, Tower Research Capital LLC TRC plays an influential role within the finance industry as it manages investments across various sectors.
Furthermore, National Storage Affiliates Trust recently announced that it will be distributing a quarterly dividend to its shareholders. The dividend is set to be paid on September 29th to stockholders who are recorded as owners on September 15th. The dividend payout per share is $0.56, resulting in an annualized dividend amounting to $2.24 per share. This translates into a dividend yield of approximately 6.58%. Investors must take note that they need to purchase shares before September 14th to qualify for this upcoming dividend payment.
National Storage Affiliates Trust’s current payout ratio stands at an unusually high level of 215.39%. This indicates that the company is paying out more in dividends than it earns in terms of profits. Investors may consider this high payout ratio as an important factor to evaluate before making investment decisions.
The information provided in this article is accurate as of August 31, 2023, based on Tower Research Capital LLC TRC’s most recent filing with the Securities and Exchange Commission. It is important for investors to conduct thorough research and consult with financial professionals before making any investment decisions.
[bs_slider_forecast ticker=”NSA”]
National Storage Affiliates Trust (NSA): Recent Changes in Holdings and Analyst Ratings
National Storage Affiliates Trust (NSA) is a real estate investment trust based in Greenwood Village, Colorado. The company specializes in the ownership, operation, and acquisition of self-storage properties primarily located within the top 100 metropolitan statistical areas in the United States. With a portfolio of 1,117 self-storage properties in 42 states and Puerto Rico, NSA has approximately 72.8 million rentable square feet as of June 30, 2023.
In recent months, there have been some notable changes in the holdings of institutional investors and hedge funds with regards to National Storage Affiliates Trust. For instance, Swiss National Bank increased its stake in the company by 2.1% during the fourth quarter, purchasing an additional 4,300 shares that are now valued at $7,603,000. Similarly, Truist Financial Corp raised its stake by 44.3% in the first quarter, acquiring an additional 15,772 shares worth $2,147,000. Virtu Financial LLC also joined the ranks as a new investor by purchasing a stake valued at $216,000 during the same period. Furthermore, Raymond James & Associates raised its holdings by 3.0% during the fourth quarter while Gilman Hill Asset Management LLC increased their stake by 22.4% in the first quarter.
As for NSA’s financial performance and stock value on August 31, 2023, it opened at $34.06 per share that day. The firm’s average stock price over the previous 50 days stood at $34.07, while its average over a period of 200 days was higher at $37.55 per share.
With regards to key financial ratios affecting NSA’s performance as an investment option for stakeholders, several factors should be considered. First is its debt-to-equity ratio which stands at 1.78 indicating that it has more debt than equity. This may be a potential concern for investors as higher debt can increase financial risk. Another relevant ratio is the PEG ratio, which stands at 6.82 suggesting an overvaluation compared to the company’s expected future earnings growth.
Several equities analysts have recently commented on NSA shares. StockNews.com began coverage of National Storage Affiliates Trust and assigned it a “hold” rating in a research note on August 17th. Additionally, Citigroup cut its target price for NSA from $41.00 to $36.00 and set a “neutral” rating for the company in a research note on August 24th. Truist Financial also reduced their target price from $40.00 to $35.00 and labeled the stock as “hold.” Bank of America downgraded NSA from “neutral” to “underperform” and adjusted their target price from $48.00 to $38.00 on May 8th. Lastly, Stifel Nicolaus shifted their rating from “buy” to “hold” and decreased the target price from $47.00 to $35.00 on August 8th.
Overall, National Storage Affiliates Trust currently has an average rating of “Hold” with Bloomberg reporting an average price target of $40.60 based on analyst recommendations.
In conclusion, National Storage Affiliates Trust operates as a real estate investment trust with a focus on self-storage properties across the United States’ top metropolitan areas. Recent modifications in holdings by institutional investors and hedge funds indicate varying levels of interest in the company’s stock value. Analysts’ ratings have been mixed, with some expressing concerns about the stock’s performance while others maintain positive sentiments towards its prospects for growth moving forward.
Disclaimer: The information provided in this article should not be considered financial advice or recommendations regarding investment decisions concerning National Storage Affiliates Trust stock (NSA). It is always recommended to conduct thorough research and consult with a professional financial advisor before making any investment decisions.
