Bank of Montreal Can Boosts Stock Position in National Storage Affiliates Trust (NYSE:NSA)

Bank of Montreal Can lifted its holdings in National Storage Affiliates Trust (NYSE:NSA) by 20.2% in the first quarter, HoldingsChannel reports. The firm owned 257,347 shares of the real estate investment trust’s stock after purchasing an additional 43,271 shares during the quarter. Bank of Montreal Can’s holdings in National Storage Affiliates Trust were worth $10,608,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of NSA. Marshall Wace North America L.P. grew its holdings in shares of National Storage Affiliates Trust by 21.6% in the first quarter. Marshall Wace North America L.P. now owns 1,886 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 335 shares in the last quarter. FMR LLC purchased a new position in shares of National Storage Affiliates Trust in the first quarter valued at $32,000. First Trust Advisors LP grew its holdings in shares of National Storage Affiliates Trust by 625.5% in the first quarter. First Trust Advisors LP now owns 78,207 shares of the real estate investment trust’s stock valued at $2,230,000 after purchasing an additional 67,428 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of National Storage Affiliates Trust by 10.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 85,306 shares of the real estate investment trust’s stock valued at $2,431,000 after purchasing an additional 8,230 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of National Storage Affiliates Trust by 140.0% in the fourth quarter. Victory Capital Management Inc. now owns 24,413 shares of the real estate investment trust’s stock valued at $880,000 after purchasing an additional 14,243 shares in the last quarter. 81.67% of the stock is owned by hedge funds and other institutional investors.

NYSE:NSA opened at $50.81 on Friday. National Storage Affiliates Trust has a twelve month low of $26.80 and a twelve month high of $51.57. The company has a market capitalization of $3.89 billion, a P/E ratio of 81.95 and a beta of 0.36. The stock’s fifty day simple moving average is $46.23. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.54 and a current ratio of 0.54.

National Storage Affiliates Trust (NYSE:NSA) last released its earnings results on Monday, May 3rd. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.26). The business had revenue of $122.99 million for the quarter, compared to the consensus estimate of $118.50 million. National Storage Affiliates Trust had a return on equity of 5.16% and a net margin of 13.93%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. On average, analysts forecast that National Storage Affiliates Trust will post 1.96 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 15th will be issued a $0.38 dividend. This is an increase from National Storage Affiliates Trust’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, June 14th. National Storage Affiliates Trust’s payout ratio is presently 88.89%.

NSA has been the subject of several recent analyst reports. Morgan Stanley lifted their price objective on shares of National Storage Affiliates Trust from $39.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 26th. Zacks Investment Research raised shares of National Storage Affiliates Trust from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Wednesday, June 9th. Wells Fargo & Company lifted their price objective on shares of National Storage Affiliates Trust from $45.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, May 27th. BMO Capital Markets reaffirmed a “buy” rating on shares of National Storage Affiliates Trust in a research note on Tuesday, March 9th. Finally, Truist Securities lifted their target price on National Storage Affiliates Trust from $36.00 to $40.00 in a research report on Monday, March 22nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $45.14.

About National Storage Affiliates Trust

National Storage Affiliates Trust is a Maryland real estate investment trust focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistical areas throughout the United States. As of September 30, 2020, the Company held ownership interests in and operated 788 self storage properties located in 35 states and Puerto Rico with approximately 49.5 million rentable square feet.

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Institutional Ownership by Quarter for National Storage Affiliates Trust (NYSE:NSA)

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