National Storage Affiliates Trust (NYSE:NSA) Increases Dividend to $0.32 Per Share
National Storage Affiliates Trust (NYSE:NSA) declared a quarterly dividend on Friday, May 24th, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.32 per share by the real estate investment trust on Friday, June 28th. This represents a $1.28 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Thursday, June 13th. This is a positive change from National Storage Affiliates Trust’s previous quarterly dividend of $0.30.
National Storage Affiliates Trust has increased its dividend payment by an average of 29.0% annually over the last three years and has raised its dividend every year for the last 3 years. National Storage Affiliates Trust has a dividend payout ratio of 94.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect National Storage Affiliates Trust to earn $1.59 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 80.5%.
Shares of NSA traded up $0.55 during trading hours on Friday, hitting $28.94. 2,289,767 shares of the company were exchanged, compared to its average volume of 434,341. The stock has a market capitalization of $1.65 billion, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 3.75 and a beta of 0.42. National Storage Affiliates Trust has a fifty-two week low of $24.44 and a fifty-two week high of $32.28. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.17. The business’s fifty day simple moving average is $29.72.
National Storage Affiliates Trust (NYSE:NSA) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.28). The business had revenue of $90.57 million during the quarter, compared to analyst estimates of $93.25 million. National Storage Affiliates Trust had a net margin of 1.71% and a return on equity of 0.49%. The business’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. Analysts expect that National Storage Affiliates Trust will post 1.51 EPS for the current fiscal year.
Several analysts recently weighed in on NSA shares. Zacks Investment Research raised National Storage Affiliates Trust from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Friday, March 29th. ValuEngine downgraded National Storage Affiliates Trust from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. National Storage Affiliates Trust presently has a consensus rating of “Buy” and an average price target of $31.00.
About National Storage Affiliates Trust
National Storage Affiliates Trust is a Maryland real estate investment trust focused on the ownership, operation and acquisition of self storage properties located within the top 100 metropolitan statistical areas throughout the United States. The Company currently holds ownership interests in and operates 709 self storage properties located in 35 states and Puerto Rico with approximately 44.9 million rentable square feet.
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