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

National Storage Affiliates Trust (NYSE:NSA) announced a quarterly dividend on Friday, May 16th, Wall Street Journal reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.57 per share by the real estate investment trust on Monday, June 30th. This represents a $2.28 annualized dividend and a yield of 6.21%. The ex-dividend date is Friday, June 13th.

National Storage Affiliates Trust has increased its dividend payment by an average of 6.4% 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 325.7% 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 Up 3.6%

NSA opened at $36.71 on Friday. National Storage Affiliates Trust has a twelve month low of $30.88 and a twelve month high of $49.44. The company’s 50-day moving average price is $36.49 and its two-hundred day moving average price is $38.56. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 21.47 and a beta of 1.20. 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 posted its quarterly earnings results on Monday, May 5th. The real estate investment trust reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). National Storage Affiliates Trust had a return on equity of 10.35% and a net margin of 20.59%. The company had revenue of $188.35 million during the quarter, compared to the consensus estimate of $184.65 million. During the same period last year, the firm posted $0.60 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, equities analysts expect that National Storage Affiliates Trust will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NSA has been the topic of several research reports. Robert W. Baird lowered their target price on National Storage Affiliates Trust from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Barclays lowered their price objective on National Storage Affiliates Trust from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Mizuho started coverage on shares of National Storage Affiliates Trust in a report on Wednesday, April 9th. They set a “neutral” rating and a $35.00 price objective on the stock. Finally, Wells Fargo & Company reduced their target price on shares of National Storage Affiliates Trust from $40.00 to $38.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $41.28.

Insider Activity at National Storage Affiliates Trust

In related news, Director Michael J. Schall bought 4,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $38.54 per share, for a total transaction of $154,160.00. Following the purchase, the director now directly owns 6,000 shares in the company, valued at $231,240. This trade represents a 200.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On National Storage Affiliates Trust

Several hedge funds and other institutional investors have recently modified their holdings of NSA. Empowered Funds LLC grew its stake in National Storage Affiliates Trust by 2.0% during the first quarter. Empowered Funds LLC now owns 61,409 shares of the real estate investment trust’s stock valued at $2,420,000 after acquiring an additional 1,209 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in National Storage Affiliates Trust by 42.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 92,309 shares of the real estate investment trust’s stock worth $3,637,000 after purchasing an additional 27,546 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in National Storage Affiliates Trust by 207.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,217 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 821 shares during the period. Advisors Asset Management Inc. purchased a new position in shares of National Storage Affiliates Trust during the 1st quarter valued at $32,000. Finally, Royal Bank of Canada grew its position in shares of National Storage Affiliates Trust by 0.8% during the 1st quarter. Royal Bank of Canada now owns 110,289 shares of the real estate investment trust’s stock valued at $4,345,000 after purchasing an additional 898 shares in the last quarter. 99.97% of the stock is currently owned by institutional investors.

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.