National Storage Affiliates Trust (NYSE:NSA) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

National Storage Affiliates Trust (NYSE:NSA) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.04, Yahoo Finance reports. National Storage Affiliates Trust had a return on equity of 10.30% and a net margin of 22.07%. The firm had revenue of $196.15 million during the quarter, compared to the consensus estimate of $191.70 million. During the same period in the prior year, the business earned $0.66 EPS. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. National Storage Affiliates Trust updated its FY24 guidance to $2.40 to $2.56 EPS and its FY 2024 guidance to 2.400-2.560 EPS.

National Storage Affiliates Trust Stock Performance

NSA stock traded up $0.35 during midday trading on Friday, hitting $36.06. The stock had a trading volume of 621,345 shares, compared to its average volume of 684,420. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 2.05. The stock has a 50-day simple moving average of $36.82 and a 200 day simple moving average of $36.14. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 18.88 and a beta of 0.87. National Storage Affiliates Trust has a 52 week low of $27.86 and a 52 week high of $42.54.

National Storage Affiliates Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.56 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.21%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is presently 117.28%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on National Storage Affiliates Trust in a report on Tuesday, January 30th. They issued a “sell” rating and a $33.00 price objective on the stock. Barclays assumed coverage on shares of National Storage Affiliates Trust in a report on Wednesday, March 27th. They set an “equal weight” rating and a $39.00 price target on the stock. Finally, KeyCorp raised shares of National Storage Affiliates Trust from a “sector weight” rating to an “overweight” rating and set a $45.00 target price on the stock in a research report on Friday, January 5th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.60.

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.