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

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.42), Zacks reports. The firm had revenue of $174.80 million for the quarter, compared to analysts' expectations of $185.45 million. National Storage Affiliates Trust had a net margin of 20.59% and a return on equity of 10.35%. During the same period in the prior year, the company posted $0.67 earnings per share. National Storage Affiliates Trust's quarterly revenue 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 Down 1.3 %

Shares of NYSE NSA traded down $0.53 during mid-day trading on Friday, reaching $41.62. 672,235 shares of the company traded hands, compared to its average volume of 440,373. The company's fifty day moving average is $45.77 and its two-hundred day moving average is $41.94. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.72 and a current ratio of 0.72. National Storage Affiliates Trust has a fifty-two week low of $29.13 and a fifty-two week high of $49.44. The stock has a market cap of $3.12 billion, a PE ratio of 24.34 and a beta of 0.99.

National Storage Affiliates Trust Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend 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 currently 130.99%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NSA. KeyCorp lowered National Storage Affiliates Trust from an "overweight" rating to a "sector weight" rating in a report on Monday, September 9th. Jefferies Financial Group lifted their target price on National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Citigroup increased their price target 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. Evercore ISI boosted their price objective on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an "underperform" rating in a research report on Monday, September 16th. Finally, Robert W. Baird increased their target price on shares of National Storage Affiliates Trust from $37.00 to $39.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, National Storage Affiliates Trust has an average rating of "Hold" and a consensus price target 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.