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

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

National Storage Affiliates Trust Price Performance

Shares of NYSE NSA traded down $0.53 during mid-day trading on Friday, hitting $41.62. 672,235 shares of the company’s stock traded hands, compared to its average volume of 729,059. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.72 and a quick ratio of 0.72. National Storage Affiliates Trust has a 1 year low of $29.13 and a 1 year high of $49.44. The company’s 50-day moving average is $45.77 and its two-hundred day moving average is $41.94. The company has a market capitalization of $3.12 billion, a P/E ratio of 24.35 and a beta of 0.98.

National Storage Affiliates Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.56 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.38%. National Storage Affiliates Trust’s payout ratio is currently 130.99%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NSA shares. Barclays upped their price target on National Storage Affiliates Trust from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. Robert W. Baird boosted their target price on shares of National Storage Affiliates Trust from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Evercore ISI increased 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 report on Monday, September 16th. KeyCorp downgraded shares of National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research report on Monday, September 9th. Finally, Truist Financial lifted their target price on National Storage Affiliates Trust from $38.00 to $41.00 and gave the company a “hold” rating in a research report on Friday, August 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average 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.