Gabelli Funds LLC Decreases Stock Holdings in National Storage Affiliates Trust $NSA

Gabelli Funds LLC lowered its position in shares of National Storage Affiliates Trust (NYSE:NSA) by 43.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,536 shares of the real estate investment trust’s stock after selling 30,498 shares during the period. Gabelli Funds LLC’s holdings in National Storage Affiliates Trust were worth $1,492,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in National Storage Affiliates Trust by 0.8% during the 1st quarter. Royal Bank of Canada now owns 110,289 shares of the real estate investment trust’s stock worth $4,345,000 after buying an additional 898 shares during the last quarter. Advisors Asset Management Inc. purchased a new position in shares of National Storage Affiliates Trust in the 1st quarter valued at about $32,000. Jones Financial Companies Lllp raised its position in shares of National Storage Affiliates Trust by 207.3% during the 1st quarter. Jones Financial Companies Lllp now owns 1,217 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 821 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of National Storage Affiliates Trust by 42.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 92,309 shares of the real estate investment trust’s stock worth $3,637,000 after acquiring an additional 27,546 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in National Storage Affiliates Trust by 2.0% during the first quarter. Empowered Funds LLC now owns 61,409 shares of the real estate investment trust’s stock worth $2,420,000 after purchasing an additional 1,209 shares during the last quarter. Hedge funds and other institutional investors own 99.97% of the company’s stock.

National Storage Affiliates Trust Stock Performance

NYSE NSA opened at $43.41 on Thursday. The firm has a market cap of $3.35 billion, a P/E ratio of 57.88 and a beta of 1.03. National Storage Affiliates Trust has a 52-week low of $27.43 and a 52-week high of $46.47. The business’s 50-day moving average price is $44.17 and its 200 day moving average price is $39.56. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 3.02.

National Storage Affiliates Trust (NYSE:NSA) last posted its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.38). National Storage Affiliates Trust had a net margin of 10.48% and a return on equity of 6.46%. The company had revenue of $185.40 million for the quarter, compared to analysts’ expectations of $181.69 million. During the same period in the prior year, the company earned $0.54 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. On average, equities research analysts expect that National Storage Affiliates Trust will post 2.22 earnings per share for the current year.

National Storage Affiliates Trust Announces Dividend

The business also recently announced a special dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Tuesday, July 21st were issued a $0.0336 dividend. The ex-dividend date of this dividend was Tuesday, July 21st. National Storage Affiliates Trust’s payout ratio is presently 304.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings raised National Storage Affiliates Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Evercore set a $46.00 price objective on shares of National Storage Affiliates Trust and gave the stock a “cautious” rating in a research report on Monday, July 6th. Citigroup upped their target price on shares of National Storage Affiliates Trust from $33.50 to $43.62 and gave the company a “neutral” rating in a report on Tuesday, May 12th. UBS Group lifted their price target on shares of National Storage Affiliates Trust from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Finally, Barclays boosted their price target on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. Twelve analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $38.60.

National Storage Affiliates Trust Company Profile

National Storage Affiliates Trust is a publicly traded real estate investment trust (REIT) focused on the ownership and operation of self-storage properties in the United States. Since its initial public offering in August 2015, NSA has pursued a growth strategy built on strategic acquisitions and partnerships, establishing a diversified portfolio of assets backed by a centralized support platform. The Trust’s model combines the scalability of a national REIT with the local expertise of affiliate operators.

The company’s core business involves providing flexible storage solutions to both individual and commercial customers.