National Storage Affiliates Trust (NYSE:NSA) Plans Special Dividend of $0.03

Key Points

• National Storage Affiliates Trust announced a special dividend of $0.0336 per share, payable on July 22 to stockholders of record on July 21, with the ex-dividend date also set for July 21.
• The REIT’s dividend appears stretched, with a 268.2% payout ratio, suggesting earnings do not currently cover the dividend and future coverage may remain tight.
• NSA recently reported Q1 earnings of $0.16 per share, missing analyst expectations, though revenue came in slightly above estimates at $185.4 million.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) announced a special dividend on Friday, July 10th. Stockholders of record on Tuesday, July 21st will be given a dividend of 0.0336 per share by the real estate investment trust on Wednesday, July 22nd. The ex-dividend date is Tuesday, July 21st.

National Storage Affiliates Trust has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. National Storage Affiliates Trust has a dividend payout ratio of 268.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect National Storage Affiliates Trust to earn $2.27 per share next year, which means the company may not be able to cover its $2.28 annual dividend with an expected future payout ratio of 100.4%.

National Storage Affiliates Trust Price Performance

National Storage Affiliates Trust stock opened at $44.55 on Friday. The business's fifty day moving average is $43.99 and its two-hundred day moving average is $38.65. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $3.44 billion, a P/E ratio of 59.40 and a beta of 1.03. National Storage Affiliates Trust has a 52 week low of $27.43 and a 52 week high of $46.47.

National Storage Affiliates Trust (NYSE:NSA - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.38). National Storage Affiliates Trust had a net margin of 10.48% and a return on equity of 6.46%. The company had revenue of $185.40 million for the quarter, compared to the consensus estimate of $181.69 million. During the same period last year, the company earned $0.54 earnings per share. National Storage Affiliates Trust's revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts forecast that National Storage Affiliates Trust will post 2.22 earnings per share for the current fiscal year.

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.

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