National Storage Affiliates Trust (NYSE:NSA) Issues FY 2024 Earnings Guidance

National Storage Affiliates Trust (NYSE:NSA) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.360-2.440 for the period, compared to the consensus EPS estimate of 2.410. The company issued revenue guidance of -.

National Storage Affiliates Trust Price Performance

NYSE NSA traded down $0.06 during mid-day trading on Wednesday, hitting $42.44. The stock had a trading volume of 498,712 shares, compared to its average volume of 728,886. The firm’s 50 day moving average is $45.93 and its 200 day moving average is $41.90. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 23.73 and a beta of 0.98. National Storage Affiliates Trust has a twelve month low of $27.96 and a twelve month high of $49.44.

National Storage Affiliates Trust (NYSE:NSA) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.47). The business had revenue of $190.50 million during the quarter, compared to analyst estimates of $186.37 million. National Storage Affiliates Trust had a net margin of 21.23% and a return on equity of 10.43%. National Storage Affiliates Trust’s quarterly revenue was down 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.68 earnings per share. Equities research analysts forecast that National Storage Affiliates Trust will post 2.41 earnings per share for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 5.28%. The ex-dividend date was Friday, September 13th. National Storage Affiliates Trust’s dividend payout ratio is currently 125.14%.

Wall Street Analysts Forecast Growth

NSA has been the subject of several recent research reports. KeyCorp cut National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a report on Monday, September 9th. Jefferies Financial Group boosted their price target on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Truist Financial upped their price objective 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. Robert W. Baird lifted their target price 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, August 6th. Finally, Evercore ISI increased 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 note on Monday, September 16th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, National Storage Affiliates Trust presently has an average rating of “Hold” and an average target price of $42.83.

About National Storage Affiliates Trust

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.