National Storage Affiliates Trust (NYSE:NSA) Announces Earnings Results, Misses Estimates By $0.42 EPS

National Storage Affiliates Trust (NYSE:NSA) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.42), Zacks reports. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.10%. The business had revenue of $174.80 million for the quarter, compared to analyst estimates of $185.45 million. During the same quarter last year, the business earned $0.67 EPS. National Storage Affiliates Trust’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 traded down $0.53 during mid-day trading on Friday, reaching $41.62. 672,235 shares of the company’s stock traded hands, compared to its average volume of 729,059. The stock has a market capitalization of $3.12 billion, a P/E ratio of 24.35 and a beta of 0.98. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.72 and a current ratio of 0.72. National Storage Affiliates Trust has a 12 month low of $29.13 and a 12 month high of $49.44. The business’s 50-day moving average price is $45.77 and its 200-day moving average price is $41.94.

National Storage Affiliates Trust Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NSA shares. Truist Financial upped their price target on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the company a “hold” rating in a report on Friday, August 16th. Citigroup increased their price target on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Wells Fargo & Company boosted their price objective on National Storage Affiliates Trust from $40.00 to $42.00 and gave the company 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 stock an “equal weight” rating in a report on Monday, October 28th. Finally, Evercore ISI boosted their price target on National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an “underperform” rating in a report on Monday, September 16th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.