National Storage Affiliates Trust (NYSE:NSA) Announces Quarterly Dividend of $0.57

National Storage Affiliates Trust (NYSE:NSA) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.57 per share by the real estate investment trust on Tuesday, December 31st. This represents a $2.28 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Friday, December 13th. This is a positive change from National Storage Affiliates Trust’s previous quarterly dividend of $0.56.

National Storage Affiliates Trust has increased its dividend payment by an average of 31.0% annually over the last three years. National Storage Affiliates Trust has a dividend payout ratio of 355.6% 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 $2.45 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 91.4%.

National Storage Affiliates Trust Stock Up 1.9 %

National Storage Affiliates Trust stock traded up $0.79 during trading hours on Friday, hitting $43.12. The stock had a trading volume of 265,295 shares, compared to its average volume of 715,694. The stock’s 50-day moving average price is $45.22 and its 200-day moving average price is $42.40. National Storage Affiliates Trust has a 12-month low of $32.42 and a 12-month high of $49.44. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.35. The stock has a market capitalization of $3.29 billion, a P/E ratio of 25.23 and a beta of 0.99.

National Storage Affiliates Trust (NYSE:NSA) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.42). National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The business had revenue of $174.80 million during the quarter, compared to the consensus estimate of $185.45 million. During the same period in the previous year, the business posted $0.67 EPS. The firm’s revenue for the quarter was down 20.2% on a year-over-year basis. Equities research analysts anticipate that National Storage Affiliates Trust will post 2.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NSA. Truist Financial raised their price objective on 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. Barclays increased their target price on shares of National Storage Affiliates Trust from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. Evercore ISI lifted their price target on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the stock an “underperform” rating in a research note on Monday, September 16th. Citigroup increased their price objective on shares of National Storage Affiliates Trust from $36.00 to $44.50 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company boosted their target price on National Storage Affiliates Trust from $40.00 to $42.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Three 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 company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $43.17.

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.