National Storage Affiliates Trust (NYSE:NSA) Posts Earnings Results, Misses Estimates By $0.47 EPS

National Storage Affiliates Trust (NYSE:NSA) issued its quarterly earnings data on Monday. 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), Yahoo Finance reports. National Storage Affiliates Trust had a net margin of 22.07% and a return on equity of 10.30%. The company had revenue of $190.50 million during the quarter, compared to analysts’ expectations of $186.37 million. During the same quarter in the prior year, the company earned $0.68 earnings per share. The firm’s revenue was down 11.6% compared to the same quarter last year. National Storage Affiliates Trust updated its FY24 guidance to $2.36-2.44 EPS.

National Storage Affiliates Trust Price Performance

National Storage Affiliates Trust stock traded up $1.20 during trading hours on Wednesday, hitting $43.53. 323,314 shares of the stock were exchanged, compared to its average volume of 784,611. The stock has a market capitalization of $3.26 billion, a P/E ratio of 22.16 and a beta of 0.95. National Storage Affiliates Trust has a 12 month low of $27.86 and a 12 month high of $46.84. The business’s 50-day moving average is $41.33 and its two-hundred day moving average is $38.46. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.56 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.24 annualized dividend and a dividend yield of 5.15%. National Storage Affiliates Trust’s dividend payout ratio is presently 117.28%.

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 on Friday, June 7th. The stock was 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 owns 114,155 shares in the company, valued at approximately $4,308,209.70. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 13.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on NSA shares. Evercore ISI increased their target price on National Storage Affiliates Trust from $36.00 to $40.00 and gave the stock an “underperform” rating in a research report on Monday, July 15th. Wells Fargo & Company lifted their price objective on National Storage Affiliates Trust from $36.00 to $40.00 and gave the company an “underweight” rating in a research note on Friday, July 26th. Finally, Robert W. Baird raised their price target 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. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.60.

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.