National Storage Affiliates Trust (NYSE:NSA) Increases Dividend to $0.57 Per Share

National Storage Affiliates Trust (NYSE:NSA) announced a quarterly dividend on Thursday, November 14th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from National Storage Affiliates Trust’s previous quarterly dividend of $0.56.

National Storage Affiliates Trust has raised its dividend by an average of 31.0% annually over the last three years. National Storage Affiliates Trust has a dividend 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. Equities 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 Up 1.9 %

Shares of NYSE:NSA traded up $0.80 during mid-day trading on Friday, reaching $43.14. 384,768 shares of the stock were exchanged, compared to its average volume of 716,232. The stock’s 50 day simple moving average is $45.14 and its 200-day simple moving average is $42.40. National Storage Affiliates Trust has a one year low of $32.42 and a one year high of $49.44. The company has a market cap of $3.29 billion, a P/E ratio of 25.22 and a beta of 0.99. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.35.

National Storage Affiliates Trust (NYSE:NSA) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.18 earnings per share 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 business had revenue of $174.80 million for the quarter, compared to the consensus estimate of $185.45 million. During the same period in the prior year, the business earned $0.67 earnings per share. National Storage Affiliates Trust’s revenue was down 20.2% compared to the same quarter last year. As a group, equities research analysts predict that National Storage Affiliates Trust will post 2.4 EPS for the current year.

Analyst Upgrades and Downgrades

NSA has been the topic of several recent research reports. KeyCorp lowered shares of National Storage Affiliates Trust from an “overweight” rating to a “sector weight” rating in a research note on Monday, September 9th. Barclays lifted their target price on National Storage Affiliates Trust from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Wells Fargo & Company increased their price target on National Storage Affiliates Trust from $40.00 to $42.00 and gave the company an “underweight” rating in a research report on Monday, October 21st. Robert W. Baird upped 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. Finally, Evercore ISI increased their price objective on National Storage Affiliates Trust from $40.00 to $41.00 and gave the company an “underperform” rating in a report on Monday, September 16th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, National Storage Affiliates Trust presently has a consensus rating of “Hold” and a consensus price target of $43.17.

About National Storage Affiliates Trust

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.