National Storage Affiliates Trust (NYSE:NSA) Plans $0.57 Quarterly Dividend

Key Points

• National Storage Affiliates Trust has declared a quarterly dividend of $0.57 per share, with shareholders of record on September 15 set to receive payment on September 30, representing an annualized dividend yield of 7.5%.
• The company has a high dividend payout ratio of 268.2%, indicating it is currently relying on its balance sheet rather than earnings to cover its dividend payments, but is expected to cover its annual dividend with an expected future payout ratio of 95.0%.
• Following its latest earnings report, where it posted $0.55 EPS, missing estimates, analysts have issued mixed ratings with a consensus rating of "Hold" and a target price averaging $37.54.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) declared a quarterly dividend on Friday, August 15th, Wall Street Journal reports. Shareholders of record on Monday, September 15th will be given a dividend of 0.57 per share by the real estate investment trust on Tuesday, September 30th. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Monday, September 15th.

National Storage Affiliates Trust has a dividend payout ratio of 268.2% 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 $2.40 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 95.0%.

National Storage Affiliates Trust Stock Performance

Shares of NYSE:NSA traded up $0.29 on Friday, hitting $30.39. The company had a trading volume of 1,710,058 shares, compared to its average volume of 885,905. National Storage Affiliates Trust has a 1-year low of $28.02 and a 1-year high of $49.44. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 49.02 and a beta of 1.10. The stock has a 50 day moving average price of $31.81 and a 200 day moving average price of $34.99. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.62.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last announced its earnings results on Monday, August 4th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.03). The business had revenue of $188.84 million during the quarter, compared to the consensus estimate of $185.91 million. National Storage Affiliates Trust had a net margin of 8.92% and a return on equity of 4.91%. The company's revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 EPS. Analysts expect that National Storage Affiliates Trust will post 2.4 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NSA shares. Wall Street Zen raised shares of National Storage Affiliates Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Barclays lowered their target price on National Storage Affiliates Trust from $41.00 to $36.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. Robert W. Baird lowered their target price on National Storage Affiliates Trust from $39.00 to $34.00 and set a "neutral" rating for the company in a research note on Tuesday. Truist Financial set a $37.00 target price on National Storage Affiliates Trust and gave the stock a "hold" rating in a research note on Monday, May 19th. Finally, National Bankshares set a $33.00 target price on National Storage Affiliates Trust in a research note on Tuesday, June 24th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $37.54.

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.

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