JPMorgan Chase & Co. increased its holdings in National Storage (NYSE:NSA) by 252.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 395,124 shares of the real estate investment trust’s stock after buying an additional 282,882 shares during the quarter. JPMorgan Chase & Co. owned 0.78% of National Storage worth $9,910,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of NSA. Neuburgh Advisers LLC bought a new stake in National Storage during the 1st quarter worth approximately $105,000. Riverhead Capital Management LLC bought a new stake in National Storage during the 1st quarter worth approximately $118,000. Delpha Capital Management LLC bought a new stake in National Storage during the 4th quarter worth approximately $129,000. Tyers Asset Management LLC bought a new stake in National Storage during the 1st quarter worth approximately $133,000. Finally, Jane Street Group LLC bought a new stake in National Storage during the 4th quarter worth approximately $222,000. 95.34% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on NSA shares. Morgan Stanley raised their target price on shares of National Storage from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 14th. ValuEngine cut shares of National Storage from a “buy” rating to a “hold” rating in a research note on Thursday, May 17th. TheStreet upgraded shares of National Storage from a “d+” rating to a “c” rating in a research note on Monday, April 23rd. B. Riley raised their target price on shares of National Storage from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. Finally, Jefferies Financial Group set a $30.00 target price on shares of National Storage and gave the stock a “buy” rating in a research note on Monday, March 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $26.33.
National Storage opened at $29.69 on Friday, MarketBeat.com reports. The company has a market cap of $1.50 billion, a PE ratio of 23.94, a P/E/G ratio of 2.75 and a beta of 0.60. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. National Storage has a 1 year low of $21.17 and a 1 year high of $30.09.
National Storage (NYSE:NSA) last released its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.14. The firm had revenue of $76.49 million for the quarter, compared to analysts’ expectations of $76.72 million. National Storage had a net margin of 4.55% and a return on equity of 1.24%. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 earnings per share. analysts anticipate that National Storage will post 1.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, June 14th. This represents a $1.16 annualized dividend and a dividend yield of 3.91%. This is a boost from National Storage’s previous quarterly dividend of $0.28. National Storage’s dividend payout ratio (DPR) is presently 93.55%.
About National Storage
National Storage Affiliates Trust operates as a real estate investment trust. It focuses on the ownership, operation, and acquisition of self-storage properties located within the top 100 metropolitan statistical areas throughout the United States. The company was founded by Arlen D. Nordhagen in April 2013 and is headquartered in Greenwood Village, CO.
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