National Storage Affiliates Trust Announces Quarterly Dividend of $0.57 (NYSE:NSA)

National Storage Affiliates Trust (NYSE:NSA) announced a quarterly dividend on Thursday, May 14th. Shareholders of record on Monday, June 15th will be paid a dividend of 0.57 per share by the real estate investment trust on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Monday, June 15th.

National Storage Affiliates Trust has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. National Storage Affiliates Trust has a payout ratio of 268.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect National Storage Affiliates Trust to earn $2.28 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 100.0%.

National Storage Affiliates Trust Stock Performance

Shares of NSA traded down $1.55 during mid-day trading on Friday, hitting $40.98. The stock had a trading volume of 434,954 shares, compared to its average volume of 1,715,752. The firm has a market cap of $3.16 billion, a P/E ratio of 54.64 and a beta of 1.07. The business has a fifty day moving average price of $39.57 and a 200-day moving average price of $33.92. The company has a debt-to-equity ratio of 3.02, a current ratio of 0.29 and a quick ratio of 0.29. National Storage Affiliates Trust has a 52 week low of $27.43 and a 52 week high of $44.01.

National Storage Affiliates Trust (NYSE:NSA) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.38). The firm had revenue of $185.40 million during the quarter, compared to the consensus estimate of $181.69 million. National Storage Affiliates Trust had a net margin of 10.48% and a return on equity of 6.46%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. On average, equities research analysts expect that National Storage Affiliates Trust will post 2.21 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on NSA. Truist Financial boosted their target price on National Storage Affiliates Trust from $30.00 to $33.00 and gave the company a “hold” rating in a research note on Tuesday, January 20th. Wall Street Zen lowered National Storage Affiliates Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Wolfe Research upgraded National Storage Affiliates Trust from an “underperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Wells Fargo & Company decreased their price objective on National Storage Affiliates Trust from $35.00 to $33.00 and set an “underweight” rating on the stock in a research note on Thursday, February 5th. Finally, Weiss Ratings upgraded National Storage Affiliates Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Thirteen research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $34.78.

National Storage Affiliates Trust Company Profile

National Storage Affiliates Trust is a publicly traded real estate investment trust (REIT) focused on the ownership and operation of self-storage properties in the United States. Since its initial public offering in August 2015, NSA has pursued a growth strategy built on strategic acquisitions and partnerships, establishing a diversified portfolio of assets backed by a centralized support platform. The Trust’s model combines the scalability of a national REIT with the local expertise of affiliate operators.

The company’s core business involves providing flexible storage solutions to both individual and commercial customers.