National Storage Affiliates Trust (NYSE:NSA) Releases Quarterly Earnings Results

National Storage Affiliates Trust (NYSE:NSA) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.04, Yahoo Finance reports. The firm had revenue of $196.15 million during the quarter, compared to the consensus estimate of $191.70 million. National Storage Affiliates Trust had a net margin of 22.07% and a return on equity of 10.30%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. National Storage Affiliates Trust updated its FY24 guidance to $2.40 to $2.56 EPS and its FY 2024 guidance to 2.400-2.560 EPS.

National Storage Affiliates Trust Stock Performance

NSA traded up $0.35 during trading hours on Friday, hitting $36.06. The stock had a trading volume of 621,345 shares, compared to its average volume of 684,420. National Storage Affiliates Trust has a 1 year low of $27.86 and a 1 year high of $42.54. The company’s fifty day simple moving average is $36.82 and its 200 day simple moving average is $36.14. The stock has a market cap of $2.88 billion, a PE ratio of 18.88 and a beta of 0.87. The company has a quick ratio of 0.95, a current ratio of 1.01 and a debt-to-equity ratio of 2.05.

National Storage Affiliates Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.21%. National Storage Affiliates Trust’s dividend payout ratio is presently 117.28%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NSA. KeyCorp upgraded National Storage Affiliates Trust from a “sector weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research note on Friday, January 5th. Deutsche Bank Aktiengesellschaft started coverage on National Storage Affiliates Trust in a report on Tuesday, January 30th. They set a “sell” rating and a $33.00 price target for the company. Finally, Barclays started coverage on shares of National Storage Affiliates Trust in a research report on Wednesday, March 27th. They issued an “equal weight” rating and a $39.00 target price on the stock. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.60.

About National Storage Affiliates Trust

National Storage Affiliates Trust is a real estate investment trust headquartered in Greenwood Village, Colorado, focused on the ownership, operation and acquisition of self storage properties predominantly located within the top 100 metropolitan statistical areas throughout the United States. As of December 31, 2023, the Company held ownership interests in and operated 1,050 self storage properties, located in 42 states and Puerto Rico with approximately 68.6 million rentable square feet, which excludes 39 self storage properties classified as held for sale to be sold to a third party.