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

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

National Storage Affiliates Trust Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.38%. National Storage Affiliates Trust’s payout ratio is currently 130.99%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NSA shares. Jefferies Financial Group lifted their price objective on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Citigroup raised their price target on National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a “neutral” rating in a report on Friday, August 30th. Robert W. Baird upped their price objective on shares of National Storage Affiliates Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Truist Financial lifted their target price on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the stock a “hold” rating in a research note on Friday, August 16th. Finally, Evercore ISI raised their price target on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the stock an “underperform” rating in a report on Monday, September 16th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.