National Storage Affiliates Trust (NYSE:NSA) Announces Earnings Results

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

National Storage Affiliates Trust Stock Performance

Shares of NYSE:NSA opened at $42.32 on Wednesday. The firm has a fifty day simple moving average of $41.33 and a two-hundred day simple moving average of $38.46. National Storage Affiliates Trust has a 52 week low of $27.86 and a 52 week high of $46.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of $3.17 billion, a P/E ratio of 22.16 and a beta of 0.95.

National Storage Affiliates Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.56 per share. The ex-dividend date was Friday, June 14th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.29%. National Storage Affiliates Trust’s dividend payout ratio is currently 117.28%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NSA. Wells Fargo & Company raised their price target on National Storage Affiliates Trust from $36.00 to $40.00 and gave the company an “underweight” rating in a report on Friday, July 26th. Robert W. Baird increased 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 research report on Tuesday. Finally, Evercore ISI lifted 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $37.60.

Insider Buying and Selling

In related news, Director Chad Leroy Meisinger acquired 18,405 shares of National Storage Affiliates Trust stock in a transaction on Friday, June 7th. The shares were bought at an average cost of $37.74 per share, with a total value of $694,604.70. Following the completion of the purchase, the director now directly owns 114,155 shares of the company’s stock, valued at approximately $4,308,209.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 13.00% of the stock is currently owned by company insiders.

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.