National Storage Affiliates Trust (NYSE:NSA) Releases Earnings Results, Beats Expectations By $0.03 EPS

National Storage Affiliates Trust (NYSE:NSA) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03, Zacks reports. National Storage Affiliates Trust had a net margin of 9.80% and a return on equity of 5.81%. The business had revenue of $185.40 million during the quarter, compared to analysts’ expectations of $181.69 million. During the same period in the previous year, the company earned $0.54 earnings per share. National Storage Affiliates Trust’s revenue for the quarter was down 1.6% on a year-over-year basis.

National Storage Affiliates Trust Stock Performance

NYSE:NSA traded up $0.30 during trading hours on Tuesday, hitting $41.91. 1,157,551 shares of the company traded hands, compared to its average volume of 1,789,311. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 60.73 and a beta of 1.07. National Storage Affiliates Trust has a twelve month low of $27.43 and a twelve month high of $44.01. The firm has a 50-day moving average of $38.38 and a 200 day moving average of $33.37. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 2.86.

National Storage Affiliates Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 5.4%. The ex-dividend date was Friday, March 13th. National Storage Affiliates Trust’s dividend payout ratio is presently 330.43%.

Analyst Ratings Changes

NSA has been the subject of a number of analyst reports. UBS Group reduced their price objective on shares of National Storage Affiliates Trust from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Weiss Ratings upgraded shares of National Storage Affiliates Trust from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday. Truist Financial boosted their price objective on shares of National Storage Affiliates Trust from $30.00 to $33.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Wells Fargo & Company reduced their price objective on shares of National Storage Affiliates Trust from $35.00 to $33.00 and set an “underweight” rating for the company in a research note on Thursday, February 5th. Finally, Wall Street Zen cut shares of National Storage Affiliates Trust from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Twelve investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $33.90.

Hedge Funds Weigh In On National Storage Affiliates Trust

Several large investors have recently bought and sold shares of the stock. Corient Private Wealth LLC acquired a new position in National Storage Affiliates Trust during the 4th quarter valued at $264,000. Invesco Ltd. raised its stake in shares of National Storage Affiliates Trust by 2.8% in the 4th quarter. Invesco Ltd. now owns 831,730 shares of the real estate investment trust’s stock valued at $23,463,000 after buying an additional 22,982 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of National Storage Affiliates Trust by 43.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 224,779 shares of the real estate investment trust’s stock valued at $6,341,000 after buying an additional 68,234 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of National Storage Affiliates Trust in the 4th quarter valued at $1,774,000. Finally, Wellington Management Group LLP raised its stake in shares of National Storage Affiliates Trust by 36.6% in the 4th quarter. Wellington Management Group LLP now owns 584,193 shares of the real estate investment trust’s stock valued at $16,480,000 after buying an additional 156,581 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors and hedge funds.

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.