Jennison Associates LLC Has $67.77 Million Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Jennison Associates LLC lessened its stake in National Storage Affiliates Trust (NYSE:NSA) by 8.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,405,941 shares of the real estate investment trust’s stock after selling 137,698 shares during the quarter. Jennison Associates LLC’s holdings in National Storage Affiliates Trust were worth $67,766,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Thrivent Financial for Lutherans lifted its position in National Storage Affiliates Trust by 0.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 2,537,362 shares of the real estate investment trust’s stock valued at $122,301,000 after acquiring an additional 22,454 shares in the last quarter. Leeward Investments LLC MA raised its stake in shares of National Storage Affiliates Trust by 30.9% in the 2nd quarter. Leeward Investments LLC MA now owns 414,734 shares of the real estate investment trust’s stock valued at $17,095,000 after purchasing an additional 97,786 shares during the period. Swedbank AB acquired a new position in shares of National Storage Affiliates Trust during the first quarter worth about $16,056,000. Long Pond Capital LP acquired a new stake in National Storage Affiliates Trust in the 2nd quarter valued at approximately $16,198,000. Finally, Sei Investments Co. boosted its position in National Storage Affiliates Trust by 9.1% during the 2nd quarter. Sei Investments Co. now owns 388,995 shares of the real estate investment trust’s stock worth $16,034,000 after acquiring an additional 32,544 shares during the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an “underperform” rating in a report on Monday, September 16th. Citigroup lifted their price target on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a research note on Friday, August 30th. Truist Financial upped their price objective on National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Barclays raised their target price on shares of National Storage Affiliates Trust from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Finally, KeyCorp cut shares of National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research report on Monday, September 9th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.17.

National Storage Affiliates Trust Stock Performance

Shares of NSA stock opened at $43.92 on Thursday. The stock has a market capitalization of $3.35 billion, a PE ratio of 25.68 and a beta of 0.99. National Storage Affiliates Trust has a one year low of $32.42 and a one year high of $49.44. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.72 and a quick ratio of 0.72. The business’s 50 day simple moving average is $44.95 and its 200 day simple moving average is $42.67.

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

National Storage Affiliates Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.57 dividend. This is an increase from National Storage Affiliates Trust’s previous quarterly dividend of $0.56. This represents a $2.28 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Friday, December 13th. National Storage Affiliates Trust’s payout ratio is presently 133.33%.

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.