National Storage Affiliates Trust (NYSE:NSA) Posts Quarterly Earnings Results

National Storage Affiliates Trust (NYSE:NSA) released its earnings results on Tuesday. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.38), FiscalAI reports. The firm had revenue of $185.40 million during the quarter, compared to the consensus estimate of $181.69 million. National Storage Affiliates Trust had a net margin of 10.48% and a return on equity of 6.46%. National Storage Affiliates Trust’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 earnings per share.

National Storage Affiliates Trust Trading Up 0.7%

Shares of NYSE:NSA opened at $43.63 on Friday. National Storage Affiliates Trust has a 1 year low of $27.43 and a 1 year high of $44.01. The company has a market capitalization of $3.37 billion, a P/E ratio of 58.18 and a beta of 1.07. The company has a debt-to-equity ratio of 3.02, a current ratio of 0.29 and a quick ratio of 0.25. The business’s 50 day simple moving average is $38.73 and its 200 day simple moving average is $33.53.

National Storage Affiliates Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $2.28 dividend on an annualized basis and a yield of 5.2%. National Storage Affiliates Trust’s dividend payout ratio is currently 304.00%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Rush Island Management LP bought a new position in National Storage Affiliates Trust during the 4th quarter worth approximately $33,788,000. Freestone Grove Partners LP boosted its stake in shares of National Storage Affiliates Trust by 7,053.7% during the fourth quarter. Freestone Grove Partners LP now owns 1,000,091 shares of the real estate investment trust’s stock valued at $28,213,000 after purchasing an additional 986,111 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings in shares of National Storage Affiliates Trust by 723.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,067,548 shares of the real estate investment trust’s stock worth $32,261,000 after purchasing an additional 937,939 shares during the last quarter. Conversant Capital LLC purchased a new position in shares of National Storage Affiliates Trust in the fourth quarter worth $21,863,000. Finally, Bank of America Corp DE raised its holdings in National Storage Affiliates Trust by 159.2% during the 3rd quarter. Bank of America Corp DE now owns 1,163,764 shares of the real estate investment trust’s stock valued at $35,169,000 after buying an additional 714,840 shares during the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on NSA shares. Evercore raised shares of National Storage Affiliates Trust from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Barclays raised their target price on shares of National Storage Affiliates Trust from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Mizuho lifted their price target on National Storage Affiliates Trust from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Wells Fargo & Company lowered their price target on National Storage Affiliates Trust from $35.00 to $33.00 and set an “underweight” rating on the stock in a research report on Thursday, February 5th. Finally, Weiss Ratings upgraded National Storage Affiliates Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Twelve research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $33.90.

National Storage Affiliates Trust Company Profile

National Storage Affiliates Trust is a publicly traded real estate investment trust (REIT) focused on the ownership and operation of self-storage properties in the United States. Since its initial public offering in August 2015, NSA has pursued a growth strategy built on strategic acquisitions and partnerships, establishing a diversified portfolio of assets backed by a centralized support platform. The Trust’s model combines the scalability of a national REIT with the local expertise of affiliate operators.

The company’s core business involves providing flexible storage solutions to both individual and commercial customers.