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

National Storage Affiliates Trust (NYSE:NSA) issued its earnings results on Wednesday. The real estate investment trust reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04, Yahoo Finance reports. The firm had revenue of $196.15 million during the quarter, compared to analysts’ expectations of $191.70 million. National Storage Affiliates Trust had a net margin of 18.26% and a return on equity of 8.13%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. 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 traded up $0.16 on Thursday, hitting $35.71. The company had a trading volume of 1,134,109 shares, compared to its average volume of 798,151. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 23.70 and a beta of 0.87. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.95 and a quick ratio of 0.95. The company’s fifty day moving average price is $36.82 and its 200 day moving average price is $36.11. National Storage Affiliates Trust has a 1-year low of $27.86 and a 1-year high of $42.54.

National Storage Affiliates Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date was Thursday, March 14th. National Storage Affiliates Trust’s payout ratio is 149.33%.

Analyst Ratings Changes

Several research analysts have commented on NSA shares. Deutsche Bank Aktiengesellschaft began coverage on shares of National Storage Affiliates Trust in a report on Tuesday, January 30th. They issued a “sell” rating and a $33.00 target price for the company. KeyCorp raised shares of National Storage Affiliates Trust from a “sector weight” rating to an “overweight” rating and set a $45.00 price objective for the company in a research note on Friday, January 5th. Finally, Barclays assumed coverage on shares of National Storage Affiliates Trust in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $39.00 price objective on the stock. Four 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 data from MarketBeat.com, National Storage Affiliates Trust currently has a consensus rating of “Hold” and an average target price of $36.60.

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.