National Storage Affiliates Trust (NYSE:NSA) Announces Dividend Increase – $0.57 Per Share

National Storage Affiliates Trust (NYSE:NSA) declared a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Investors of record on Friday, December 13th will be paid 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 yield of 5.29%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from National Storage Affiliates Trust’s previous quarterly dividend of $0.56.

National Storage Affiliates Trust has raised its dividend payment by an average of 31.0% annually over the last three years. National Storage Affiliates Trust has a payout ratio of 355.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Performance

NYSE NSA traded up $0.80 during trading on Friday, hitting $43.14. The company’s stock had a trading volume of 384,768 shares, compared to its average volume of 716,232. National Storage Affiliates Trust has a 52 week low of $32.42 and a 52 week 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 firm has a market cap of $3.29 billion, a P/E ratio of 25.22 and a beta of 0.99. The firm has a 50 day moving average price of $45.14 and a 200 day moving average price of $42.40.

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 10.35% and a net margin of 20.59%. The company had revenue of $174.80 million for the quarter, compared to the consensus estimate of $185.45 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The business’s revenue for the quarter was down 20.2% compared to the same quarter last year. Equities research analysts forecast that National Storage Affiliates Trust will post 2.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup upped their price objective on National Storage Affiliates Trust from $36.00 to $44.50 and gave the company a “neutral” rating in a research note on Friday, August 30th. Robert W. Baird increased their price objective on National Storage Affiliates Trust from $39.00 to $42.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Evercore ISI boosted their target price on shares of National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an “underperform” rating in a research note on Monday, September 16th. KeyCorp cut shares of National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research report on Monday, September 9th. Finally, Jefferies Financial Group lifted their price target on shares of National Storage Affiliates Trust from $47.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Three equities 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’s stock. Based on data from MarketBeat.com, National Storage Affiliates Trust has a consensus rating of “Hold” and an average target price of $43.17.

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.