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

Key Points

• National Storage Affiliates Trust reported Q1 EPS of $0.57, beating estimates by $0.03, and revenue of $185.4M also topped estimates but was down 1.6% YoY.
• The firm paid a quarterly dividend of $0.57 (annualized $2.28) for a 5.4% yield, but the dividend payout ratio is an elevated 330.43%, raising sustainability concerns.
• Shares traded at $41.91 (P/E 60.7, market cap $3.23B), yet analysts' average target is $33.90 with a consensus rating of "Reduce," implying potential downside.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) issued its quarterly earnings results 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 company had revenue of $185.40 million for the quarter, compared to the consensus estimate of $181.69 million. During the same period in the previous year, the firm earned $0.54 EPS. The firm's quarterly revenue was down 1.6% on a year-over-year basis.

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National Storage Affiliates Trust Stock Performance

NSA traded up $0.30 on Tuesday, hitting $41.91. The company's stock had a trading volume of 1,157,551 shares, compared to its average volume of 1,789,311. National Storage Affiliates Trust has a 12 month low of $27.43 and a 12 month high of $44.01. The firm has a market cap of $3.23 billion, a P/E ratio of 60.73 and a beta of 1.07. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 2.86. The company's 50 day simple moving average is $38.38 and its 200-day simple moving average is $33.37.

National Storage Affiliates Trust Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Friday, March 13th. National Storage Affiliates Trust's dividend payout ratio is presently 330.43%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Weiss Ratings raised shares of National Storage Affiliates Trust from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday. Wells Fargo & Company lowered their price target on shares of National Storage Affiliates Trust from $35.00 to $33.00 and set an "underweight" rating on the stock in a report on Thursday, February 5th. UBS Group dropped their price objective on National Storage Affiliates Trust from $30.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, January 8th. Truist Financial raised their target price on National Storage Affiliates Trust from $30.00 to $33.00 and gave the stock a "hold" rating in a research report on Tuesday, January 20th. Finally, Mizuho boosted their target price on National Storage Affiliates Trust from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Monday, January 12th. Twelve research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $33.90.

Hedge Funds Weigh In On National Storage Affiliates Trust

A number of large investors have recently made changes to their positions in NSA. Corient Private Wealth LLC purchased a new position in shares of National Storage Affiliates Trust in the fourth quarter valued at $264,000. Invesco Ltd. lifted its holdings in National Storage Affiliates Trust by 2.8% during the 4th quarter. Invesco Ltd. now owns 831,730 shares of the real estate investment trust's stock worth $23,463,000 after purchasing an additional 22,982 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in 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 worth $6,341,000 after purchasing an additional 68,234 shares during the period. XTX Topco Ltd bought a new position in National Storage Affiliates Trust in the 4th quarter worth about $1,774,000. Finally, Wellington Management Group LLP grew its holdings in National Storage Affiliates Trust by 36.6% during 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 owned by institutional investors.

About National Storage Affiliates Trust

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.