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

National Storage Affiliates Trust (NYSE:NSA) announced its quarterly earnings results on Wednesday. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.04, Yahoo Finance reports. The business had revenue of $196.15 million for the quarter, compared to the consensus estimate of $191.70 million. National Storage Affiliates Trust had a return on equity of 10.30% and a net margin of 22.07%. The business’s revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. 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 Price Performance

NYSE:NSA traded up $0.35 during mid-day trading on Friday, reaching $36.06. 621,345 shares of the stock were exchanged, compared to its average volume of 684,420. The company has a current ratio of 1.01, a quick ratio of 0.95 and a debt-to-equity ratio of 2.05. The business has a fifty day moving average price of $36.82 and a 200 day moving average price of $36.14. National Storage Affiliates Trust has a 1-year low of $27.86 and a 1-year high of $42.54. The firm has a market capitalization of $2.88 billion, a PE ratio of 18.88 and a beta of 0.87.

National Storage Affiliates Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.56 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.24 annualized dividend and a dividend yield of 6.21%. National Storage Affiliates Trust’s dividend payout ratio (DPR) is 117.28%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NSA shares. Barclays began coverage on National Storage Affiliates Trust in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $39.00 target price on the stock. KeyCorp upgraded shares of National Storage Affiliates Trust from a “sector weight” rating to an “overweight” rating and set a $45.00 price objective on the stock in a research report on Friday, January 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of National Storage Affiliates Trust in a research report on Tuesday, January 30th. They issued a “sell” rating and a $33.00 target price for the company. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average 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.