How National Storage Affiliates Trust (NSA) Stacks Up Against Similarly Valued Stocks

Judging by the fact that National Storage Affiliates Trust (NYSE:NSA) has weathered declining sentiment from the smart money, it’s easy to see that there is a sect of fund managers that elected to cut their entire stakes last quarter. Interestingly, Stuart J. Zimmer’s Zimmer Partners got rid of the biggest stake of the “upper crust” of funds tracked by Insider Monkey, worth an estimated $19.7 million in stock. Michael Swotes’s fund, Castle Ridge Investment Management, also said goodbye to its stock, about $8.1 million worth.

Let’s go over hedge fund activity in other stocks similar to National Storage Affiliates Trust (NYSE:NSA). These stocks are K2M Group Holdings Inc (NASDAQ:KTWO), Just Energy Group, Inc. Ordinary Shares (Canada) (NYSE:JE), Viad Corp (NYSE:VVI), and National Western Life Insurance Company (NASDAQ:NWLI). This group of stocks’ market valuations are similar to NSA’s market valuation.

As you can see these stocks had an average of 10 funds with bullish positions and the average amount invested in these stocks was $52 million. That figure was $69 million in NSA’s case. Viad Corp (NYSE:VVI) is the most popular stock in this table. On the other hand National Western Life Insurance Company (NASDAQ:NWLI) is the least popular one with only seven bullish hedge fund positions. National Storage Affiliates Trust (NYSE:NSA) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, Viad Corp (NYSE:VVI) might be a better candidate to consider taking a long position in.

Disclosure: none