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

National Storage Affiliates Trust (NYSE:NSA) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.47), Yahoo Finance reports. National Storage Affiliates Trust had a net margin of 22.07% and a return on equity of 10.30%. The company had revenue of $190.50 million for the quarter, compared to analyst estimates of $186.37 million. During the same quarter in the previous year, the company posted $0.68 EPS. The company’s revenue for the quarter was down 11.6% compared to the same quarter last year. National Storage Affiliates Trust updated its FY24 guidance to $2.36-2.44 EPS.

National Storage Affiliates Trust Stock Up 2.0 %

Shares of National Storage Affiliates Trust stock traded up $0.86 during trading hours on Wednesday, hitting $43.19. The company had a trading volume of 126,429 shares, compared to its average volume of 783,307. The company’s 50-day moving average is $41.33 and its two-hundred day moving average is $38.46. National Storage Affiliates Trust has a twelve month low of $27.86 and a twelve month high of $46.84. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $3.24 billion, a P/E ratio of 22.16 and a beta of 0.95.

National Storage Affiliates Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend was Friday, June 14th. National Storage Affiliates Trust’s payout ratio is 117.28%.

Insider Activity

In related news, Director Chad Leroy Meisinger bought 18,405 shares of the stock in a transaction dated Friday, June 7th. The stock was acquired at an average price of $37.74 per share, for a total transaction of $694,604.70. Following the acquisition, the director now owns 114,155 shares in the company, valued at approximately $4,308,209.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 13.00% of the company’s stock.

Analyst Upgrades and Downgrades

NSA has been the topic of a number of recent analyst reports. Evercore ISI upped their price target on shares of National Storage Affiliates Trust from $36.00 to $40.00 and gave the company an “underperform” rating in a research note on Monday, July 15th. Robert W. Baird increased their price objective on shares of National Storage Affiliates Trust from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Company increased their price target on shares of National Storage Affiliates Trust from $36.00 to $40.00 and gave the stock an “underweight” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $37.60.

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.