National Storage Affiliates Trust (NYSE:NSA – Get Rating) announced a quarterly dividend on Friday, May 27th, Wall Street Journal reports. Investors of record on Wednesday, June 15th will be paid a dividend of 0.55 per share by the real estate investment trust on Thursday, June 30th. This represents a $2.20 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Tuesday, June 14th. This is a positive change from National Storage Affiliates Trust’s previous quarterly dividend of $0.50.
National Storage Affiliates Trust has raised its dividend payment by an average of 11.1% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. National Storage Affiliates Trust has a dividend payout ratio of 137.0% 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 $2.98 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 67.1%.
Shares of National Storage Affiliates Trust stock opened at $53.46 on Friday. The firm has a 50-day simple moving average of $58.25 and a two-hundred day simple moving average of $61.00. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.48 and a current ratio of 0.48. National Storage Affiliates Trust has a fifty-two week low of $45.87 and a fifty-two week high of $70.04. The company has a market cap of $4.89 billion, a P/E ratio of 53.46, a price-to-earnings-growth ratio of 2.09 and a beta of 0.60.
NSA has been the subject of several research analyst reports. Morgan Stanley reduced their target price on National Storage Affiliates Trust from $60.00 to $52.00 in a research note on Wednesday. StockNews.com began coverage on shares of National Storage Affiliates Trust in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.88.
In other news, Chairman Arlen Dale Nordhagen sold 170,000 shares of the company’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $60.71, for a total transaction of $10,320,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Walleye Trading LLC purchased a new stake in shares of National Storage Affiliates Trust in the first quarter valued at approximately $1,327,000. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in National Storage Affiliates Trust in the 1st quarter valued at $894,000. Mackenzie Financial Corp increased its stake in shares of National Storage Affiliates Trust by 2.2% in the 1st quarter. Mackenzie Financial Corp now owns 13,731 shares of the real estate investment trust’s stock worth $862,000 after acquiring an additional 300 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of National Storage Affiliates Trust by 184.0% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 10,707 shares of the real estate investment trust’s stock worth $672,000 after acquiring an additional 6,937 shares during the period. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of National Storage Affiliates Trust during the 1st quarter worth $502,000. Institutional investors and hedge funds own 83.50% of the company’s stock.
National Storage Affiliates Trust Company Profile (Get Rating)
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. As of September 30, 2020, the Company held ownership interests in and operated 788 self storage properties located in 35 states and Puerto Rico with approximately 49.5 million rentable square feet.
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