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

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

National Storage Affiliates Trust Price Performance

National Storage Affiliates Trust stock opened at $42.32 on Wednesday. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 22.16 and a beta of 0.95. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.05. National Storage Affiliates Trust has a 12 month low of $27.86 and a 12 month high of $46.84. The stock’s 50 day moving average is $41.33 and its 200-day moving average is $38.46.

National Storage Affiliates Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.56 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.24 annualized dividend and a yield of 5.29%. National Storage Affiliates Trust’s dividend payout ratio is currently 117.28%.

Analyst Ratings Changes

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

Insider Activity at National Storage Affiliates Trust

In other National Storage Affiliates Trust news, Director Chad Leroy Meisinger bought 18,405 shares of National Storage Affiliates Trust stock in a transaction dated Friday, June 7th. The stock was bought at an average price of $37.74 per share, with a total value of $694,604.70. Following the completion of the transaction, the director now owns 114,155 shares in the company, valued at approximately $4,308,209.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.00% of the stock is currently owned by corporate insiders.

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.