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

National Storage Affiliates Trust (NYSE:NSA) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.42), Zacks reports. National Storage Affiliates Trust had a return on equity of 10.10% and a net margin of 20.59%. The firm had revenue of $174.80 million for the quarter, compared to the consensus estimate of $185.45 million. During the same period in the prior year, the company earned $0.67 EPS. The company’s revenue for the quarter was down 20.2% compared to the same quarter last year. National Storage Affiliates Trust updated its FY 2024 guidance to 2.360-2.440 EPS.

National Storage Affiliates Trust Stock Performance

Shares of NSA stock traded down $0.53 during trading on Friday, reaching $41.62. 672,235 shares of the company’s stock traded hands, compared to its average volume of 729,059. National Storage Affiliates Trust has a 1 year low of $29.13 and a 1 year high of $49.44. The firm’s 50-day moving average is $45.77 and its 200 day moving average is $41.94. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.28. The company has a market capitalization of $3.12 billion, a P/E ratio of 24.35 and a beta of 0.98.

National Storage Affiliates Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 5.38%. The ex-dividend date was Friday, September 13th. National Storage Affiliates Trust’s dividend payout ratio (DPR) is presently 130.99%.

Wall Street Analysts Forecast Growth

NSA has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a report on Monday, October 21st. Barclays increased their target price on National Storage Affiliates Trust from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Evercore ISI upped their price objective on National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an “underperform” rating in a research note on Monday, September 16th. KeyCorp lowered shares of National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a report on Monday, September 9th. Finally, Citigroup lifted their target price on National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a “neutral” rating in a report on Friday, August 30th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, National Storage Affiliates Trust presently has an average rating of “Hold” and an average price target of $42.83.

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.