National Storage Affiliates Trust (NYSE:NSA) Posts Earnings Results, Misses Expectations By $0.42 EPS

National Storage Affiliates Trust (NYSE:NSA) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.18 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.42), Zacks reports. National Storage Affiliates Trust had a return on equity of 10.10% and a net margin of 20.59%. The company had revenue of $174.80 million for the quarter, compared to analyst estimates of $185.45 million. During the same quarter in the prior year, the business posted $0.67 earnings per share. The business’s revenue for the quarter was down 20.2% compared to the same quarter last year. National Storage Affiliates Trust updated its FY 2024 guidance to 2.360-2.440 EPS.

National Storage Affiliates Trust Stock Performance

Shares of NYSE:NSA traded down $0.53 during midday trading on Friday, hitting $41.62. The company’s stock had a trading volume of 672,235 shares, compared to its average volume of 729,059. National Storage Affiliates Trust has a fifty-two week low of $29.13 and a fifty-two week high of $49.44. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 24.35 and a beta of 0.98. The stock’s 50 day simple moving average is $45.77 and its 200 day simple moving average is $41.94.

National Storage Affiliates Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date was Friday, September 13th. National Storage Affiliates Trust’s dividend payout ratio (DPR) is 130.99%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Evercore ISI boosted their price target on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an “underperform” rating in a report on Monday, September 16th. KeyCorp downgraded National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Robert W. Baird boosted their price target on National Storage Affiliates Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Jefferies Financial Group increased their price objective on National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Truist Financial lifted their target price on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the company a “hold” rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.83.

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.