National Storage Affiliates Trust (NSA) Shares Up 6%
National Storage Affiliates Trust (NYSE:NSA) shot up 6% during trading on Thursday . The stock traded as high as $29.65 and last traded at $29.63. 896,079 shares were traded during trading, an increase of 127% from the average session volume of 394,995 shares. The stock had previously closed at $27.96.
NSA has been the topic of several recent research reports. ValuEngine upgraded National Storage Affiliates Trust from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Zacks Investment Research upgraded National Storage Affiliates Trust from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Citigroup cut their price target on National Storage Affiliates Trust from $30.00 to $26.00 and set a “hold” rating on the stock in a report on Friday, October 5th. Finally, Jefferies Financial Group upgraded National Storage Affiliates Trust from a “hold” rating to a “buy” rating and increased their price target for the stock from $30.00 to $31.00 in a report on Thursday, October 4th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. National Storage Affiliates Trust currently has an average rating of “Hold” and an average price target of $29.00.
The firm has a market capitalization of $1.68 billion, a PE ratio of 23.79, a P/E/G ratio of 2.73 and a beta of 0.36. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.55 and a quick ratio of 0.55.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, December 13th. This is a positive change from National Storage Affiliates Trust’s previous quarterly dividend of $0.29. National Storage Affiliates Trust’s dividend payout ratio (DPR) is currently 93.55%.
In related news, CEO Arlen Dale Nordhagen bought 20,000 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were bought at an average price of $26.30 per share, for a total transaction of $526,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Chad Leroy Meisinger bought 10,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was bought at an average price of $26.80 per share, for a total transaction of $268,000.00. The disclosure for this purchase can be found here. Insiders bought 31,200 shares of company stock worth $822,560 in the last 90 days. Corporate insiders own 13.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Marshall Wace LLP bought a new position in shares of National Storage Affiliates Trust in the third quarter valued at approximately $12,879,000. Vanguard Group Inc. lifted its holdings in shares of National Storage Affiliates Trust by 12.9% in the third quarter. Vanguard Group Inc. now owns 6,280,853 shares of the real estate investment trust’s stock valued at $159,785,000 after purchasing an additional 717,116 shares in the last quarter. Morgan Stanley lifted its holdings in shares of National Storage Affiliates Trust by 45.4% in the third quarter. Morgan Stanley now owns 557,377 shares of the real estate investment trust’s stock valued at $14,180,000 after purchasing an additional 174,035 shares in the last quarter. Legal & General Group Plc lifted its holdings in National Storage Affiliates Trust by 16.7% during the third quarter. Legal & General Group Plc now owns 285,572 shares of the real estate investment trust’s stock worth $7,263,000 after acquiring an additional 40,945 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its holdings in National Storage Affiliates Trust by 24.2% during the third quarter. TIAA CREF Investment Management LLC now owns 430,040 shares of the real estate investment trust’s stock worth $10,940,000 after acquiring an additional 83,742 shares during the period. Institutional investors own 92.54% of the company’s stock.
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About National Storage Affiliates Trust (NYSE:NSA)
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. The Company currently holds ownership interests in and operates 669 self storage properties located in 34 states and Puerto Rico with approximately 42.5 million rentable square feet.
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