National Storage Affiliates Trust (NYSE:NSA) Updates FY 2024 Earnings Guidance

National Storage Affiliates Trust (NYSE:NSA) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.360-2.440 for the period, compared to the consensus earnings per share estimate of 2.410. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on National Storage Affiliates Trust from $40.00 to $42.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Jefferies Financial Group raised their target price on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Citigroup upped their price target on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a report on Friday, August 30th. KeyCorp lowered National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Finally, Robert W. Baird upped their target price on National Storage Affiliates Trust from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.83.

National Storage Affiliates Trust Price Performance

NSA traded down $0.53 during midday trading on Friday, hitting $41.62. 672,235 shares of the company traded hands, compared to its average volume of 729,059. The business has a 50 day simple moving average of $45.77 and a two-hundred day simple moving average of $41.94. National Storage Affiliates Trust has a 52-week low of $29.13 and a 52-week high of $49.44. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 24.35 and a beta of 0.98. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.28.

National Storage Affiliates Trust (NYSE:NSA) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.42). National Storage Affiliates Trust had a return on equity of 10.10% and a net margin of 20.59%. The firm had revenue of $174.80 million during the quarter, compared to analyst estimates of $185.45 million. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was down 20.2% on a year-over-year basis. On average, equities analysts forecast that National Storage Affiliates Trust will post 2.41 earnings per share for the current fiscal year.

National Storage Affiliates Trust Dividend Announcement

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

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.