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

National Storage Affiliates Trust (NYSE:NSA) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04, Yahoo Finance reports. National Storage Affiliates Trust had a return on equity of 9.92% and a net margin of 22.07%. The business had revenue of $196.15 million for the quarter, compared to the consensus estimate of $191.70 million. During the same period in the prior year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was down 5.7% on a year-over-year basis. 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 Trading Up 1.0 %

Shares of NYSE:NSA traded up $0.35 during midday trading on Friday, reaching $36.06. 621,344 shares of the company’s stock were exchanged, compared to its average volume of 800,633. The firm’s 50 day simple moving average is $36.81 and its two-hundred day simple moving average is $36.11. National Storage Affiliates Trust has a fifty-two week low of $27.86 and a fifty-two week high of $42.54. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 18.70 and a beta of 0.87. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.95 and a quick ratio of 0.95.

National Storage Affiliates Trust Announces Dividend

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

Analysts Set New Price Targets

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

National Storage Affiliates Trust Company Profile

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.