National Storage Affiliates Trust (NYSE:NSA) to Issue Quarterly Dividend of $0.56

National Storage Affiliates Trust (NYSE:NSA – Get Rating) announced a quarterly dividend on Friday, May 26th, Wall Street Journal reports. Investors of record on Thursday, June 15th will be given a dividend of 0.56 per share by the real estate investment trust on Friday, June 30th. This represents a $2.24 annualized dividend and a yield of 6.06%. The ex-dividend date of this dividend is Wednesday, June 14th. This is an increase from National Storage Affiliates Trust’s previous quarterly dividend of $0.55.

National Storage Affiliates Trust has raised its dividend payment by an average of 19.2% 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 209.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect National Storage Affiliates Trust to earn $2.92 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 75.3%.

National Storage Affiliates Trust Price Performance

Shares of NSA traded up $0.63 during trading hours on Friday, hitting $36.98. 437,419 shares of the stock were exchanged, compared to its average volume of 721,690. The stock’s 50-day moving average price is $39.45 and its two-hundred day moving average price is $39.41. National Storage Affiliates Trust has a 12-month low of $34.90 and a 12-month high of $58.31. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 36.35, a price-to-earnings-growth ratio of 8.52 and a beta of 0.72.

National Storage Affiliates Trust (NYSE:NSA – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.40). National Storage Affiliates Trust had a net margin of 13.07% and a return on equity of 4.93%. The firm had revenue of $208.72 million during the quarter, compared to analysts’ expectations of $204.82 million. During the same quarter in the previous year, the business posted $0.64 EPS. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. Research analysts expect that National Storage Affiliates Trust will post 2.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NSA. StockNews.com began coverage on National Storage Affiliates Trust in a report on Thursday, May 18th. They set a “hold” rating on the stock. Wolfe Research lowered shares of National Storage Affiliates Trust from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, April 12th. Finally, Bank of America lowered shares of National Storage Affiliates Trust from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $48.00 to $38.00 in a report on Monday, May 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.90.

Hedge Funds Weigh In On National Storage Affiliates Trust

Several large investors have recently bought and sold shares of NSA. Advisory Services Network LLC lifted its holdings in shares of National Storage Affiliates Trust by 1,071.9% in the 1st quarter. Advisory Services Network LLC now owns 668 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 611 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in National Storage Affiliates Trust in the 1st quarter valued at $48,000. Belpointe Asset Management LLC boosted its stake in National Storage Affiliates Trust by 29.4% during the 1st quarter. Belpointe Asset Management LLC now owns 1,509 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 343 shares during the period. Covestor Ltd grew its position in National Storage Affiliates Trust by 45.5% during the 1st quarter. Covestor Ltd now owns 1,571 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 491 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in National Storage Affiliates Trust by 72.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,720 shares of the real estate investment trust’s stock worth $107,000 after purchasing an additional 720 shares during the last quarter. Hedge funds and other institutional investors own 85.26% of the company’s stock.

National Storage Affiliates Trust Company Profile

(Get Rating)

National Storage Affiliates Trust operates as a real estate investment trust. It focuses on the ownership, operation, and acquisition of self-storage properties located within the metropolitan statistical areas throughout the United States. The company was founded by Arlen D. Nordhagen in April 2013 and is headquartered in Greenwood Village, CO.