National Storage Affiliates Trust (NYSE:NSA) to Issue Quarterly Dividend of $0.56

National Storage Affiliates Trust (NYSE:NSA) declared a quarterly dividend on Friday, August 16th, Wall Street Journal reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.56 per share by the real estate investment trust on Monday, September 30th. This represents a $2.24 annualized dividend and a yield of 5.22%. The ex-dividend date is Friday, September 13th.

National Storage Affiliates Trust has increased its dividend by an average of 31.0% annually over the last three years. National Storage Affiliates Trust has a payout ratio of -509.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect National Storage Affiliates Trust to earn $2.55 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 87.8%.

National Storage Affiliates Trust Price Performance

NYSE:NSA traded up $0.14 during trading hours on Friday, hitting $42.88. The company’s stock had a trading volume of 385,851 shares, compared to its average volume of 781,774. The business’s 50-day moving average is $42.12 and its two-hundred day moving average is $38.68. The company has a market capitalization of $3.21 billion, a PE ratio of 22.38 and a beta of 0.95. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.01 and a current ratio of 1.01. National Storage Affiliates Trust has a 52-week low of $27.86 and a 52-week high of $46.84.

National Storage Affiliates Trust (NYSE:NSA) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.47). The business had revenue of $190.50 million during the quarter, compared to analysts’ expectations of $186.37 million. National Storage Affiliates Trust had a return on equity of 10.30% and a net margin of 22.07%. The company’s revenue was down 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. As a group, research analysts anticipate that National Storage Affiliates Trust will post 2.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NSA. Wells Fargo & Company upped their target price 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 upped their target price on National Storage Affiliates Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Evercore ISI upped their target price on National Storage Affiliates Trust from $36.00 to $40.00 and gave the company an “underperform” rating in a report on Monday, July 15th. Finally, Truist Financial upped their target price on National Storage Affiliates Trust from $38.00 to $41.00 and gave the company a “hold” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.33.

Insider Activity at National Storage Affiliates Trust

In related news, Director Chad Leroy Meisinger bought 18,405 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $37.74 per share, for a total transaction of $694,604.70. Following the acquisition, the director now owns 114,155 shares in the company, valued at approximately $4,308,209.70. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 13.00% of the company’s stock.

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.