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

National Storage Affiliates Trust (NYSE:NSA) announced a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Investors of record on Friday, December 13th will be given a dividend of 0.57 per share by the real estate investment trust on Tuesday, December 31st. This represents a $2.28 annualized dividend and a yield of 5.29%. The ex-dividend date is Friday, December 13th. This is a boost from National Storage Affiliates Trust’s previous quarterly dividend of $0.56.

National Storage Affiliates Trust has increased its dividend payment by an average of 31.0% per year over the last three years. National Storage Affiliates Trust has a payout ratio of 355.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect National Storage Affiliates Trust to earn $2.45 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 91.4%.

National Storage Affiliates Trust Price Performance

NYSE NSA traded up $0.79 during midday trading on Friday, hitting $43.12. The company had a trading volume of 265,295 shares, compared to its average volume of 715,694. The firm has a 50-day moving average price of $45.22 and a 200-day moving average price of $42.40. The company has a market capitalization of $3.29 billion, a PE ratio of 25.23 and a beta of 0.99. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.35. National Storage Affiliates Trust has a twelve month low of $32.42 and a twelve month high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.42). The business had revenue of $174.80 million for the quarter, compared to the consensus estimate of $185.45 million. National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. National Storage Affiliates Trust’s quarterly revenue was down 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. As a group, analysts anticipate that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on NSA shares. Barclays boosted 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 lifted their price target on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an “underperform” rating in a research report on Monday, September 16th. Wells Fargo & Company upped their price objective 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. Citigroup boosted their target price 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. Finally, Truist Financial raised 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 research report on Friday, August 16th. 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 MarketBeat.com, National Storage Affiliates Trust has a consensus rating of “Hold” and an average price target of $43.17.

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.