TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” second-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter the fund returned -1.59% (gross) and -1.83% (net), compared to a -2.92% return for the Russell 2000 Growth Index. The equity markets performed well in the second quarter, as long as one held only a handful of the biggest, fastest-growing U.S. stocks. Despite profitability turning positive this quarter following negative or neutral results in previous quarters, momentum remained the most important component in the worldwide market. In addition, please check the fund’s top five holdings to know its best picks in 2024.
TimesSquare Capital Management U.S. Small Cap Growth Strategy highlighted stocks like National Storage Affiliates Trust (NYSE:NSA), in the second quarter 2024 investor letter. National Storage Affiliates Trust (NYSE:NSA) is a real estate investment trust. The one-month return of National Storage Affiliates Trust (NYSE:NSA) was 12.52%, and its shares gained 40.66% of their value over the last 52 weeks. On September 16, 2024, National Storage Affiliates Trust (NYSE:NSA) stock closed at $48.71 per share with a market capitalization of $6.251 billion.
TimesSquare Capital Management U.S. Small Cap Growth Strategy stated the following regarding National Storage Affiliates Trust (NYSE:NSA) in its Q2 2024 investor letter:
“We have one holding in the Real Estate sector. National Storage Affiliates Trust (NYSE:NSA) is a real estate investment trust focused on the ownership, operation, and acquisition of self-storage properties. During the quarter, NSA announced that it will be internalizing its participating regional operating (PRO) structure. PROs currently manage 32% of NSA’s 1,050 properties. This development was well received by the market as its stock price was lifted by 7%.”
A wide-angle shot of a large warehouse, filled with numerous self-storage units.
National Storage Affiliates Trust (NYSE:NSA) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held National Storage Affiliates Trust (NYSE:NSA) at the end of the second quarter which was 19 in the previous quarter. While we acknowledge the potential of National Storage Affiliates Trust (NYSE:NSA) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed National Storage Affiliates Trust (NYSE:NSA) and shared the list of biggest self-storage companies in the US. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.
READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.
Disclosure: None. This article is originally published at Insider Monkey.
