Capital One Financial Weighs in on National Storage Affiliates Trust’s Q3 2022 Earnings (NYSE:NSA)

National Storage Affiliates Trust (NYSE:NSA – Get Rating) – Capital One Financial raised their Q3 2022 earnings per share (EPS) estimates for shares of National Storage Affiliates Trust in a note issued to investors on Tuesday, May 24th. Capital One Financial analyst N. Malkin now expects that the real estate investment trust will post earnings per share of $0.74 for the quarter, up from their prior forecast of $0.71. Capital One Financial also issued estimates for National Storage Affiliates Trust’s Q4 2022 earnings at $0.74 EPS, FY2022 earnings at $2.85 EPS, Q1 2023 earnings at $0.74 EPS, Q2 2023 earnings at $0.72 EPS, Q3 2023 earnings at $0.77 EPS, Q4 2023 earnings at $0.77 EPS, FY2023 earnings at $3.01 EPS and FY2024 earnings at $3.17 EPS.

National Storage Affiliates Trust (NYSE:NSA – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.43). National Storage Affiliates Trust had a net margin of 16.87% and a return on equity of 5.45%. The business had revenue of $187.20 million during the quarter, compared to analyst estimates of $183.80 million. During the same period last year, the business earned $0.49 earnings per share. The business’s quarterly revenue was up 52.2% compared to the same quarter last year.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley decreased their price target on National Storage Affiliates Trust from $60.00 to $52.00 in a report on Wednesday. StockNews.com assumed coverage on National Storage Affiliates Trust in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $59.89.

Shares of NSA stock opened at $50.50 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.47 and a current ratio of 0.48. National Storage Affiliates Trust has a fifty-two week low of $45.23 and a fifty-two week high of $70.04. The stock has a 50 day simple moving average of $58.60 and a two-hundred day simple moving average of $61.15. The company has a market cap of $4.62 billion, a P/E ratio of 50.50, a PEG ratio of 1.88 and a beta of 0.60.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend was Monday, March 14th. This is a boost from National Storage Affiliates Trust’s previous quarterly dividend of $0.45. National Storage Affiliates Trust’s dividend payout ratio (DPR) is 200.00%.

In other news, Chairman Arlen Dale Nordhagen sold 170,000 shares of the stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $60.71, for a total transaction of $10,320,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.80% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of National Storage Affiliates Trust by 1.4% during the first quarter. Vanguard Group Inc. now owns 13,004,835 shares of the real estate investment trust’s stock worth $816,183,000 after purchasing an additional 179,504 shares in the last quarter. BlackRock Inc. grew its position in National Storage Affiliates Trust by 0.4% during the first quarter. BlackRock Inc. now owns 12,873,852 shares of the real estate investment trust’s stock worth $807,965,000 after buying an additional 53,622 shares during the period. State Street Corp grew its position in shares of National Storage Affiliates Trust by 14.1% in the first quarter. State Street Corp now owns 4,844,317 shares of the real estate investment trust’s stock valued at $304,029,000 after purchasing an additional 598,640 shares during the last quarter. Invesco Ltd. grew its position in shares of National Storage Affiliates Trust by 4.9% in the first quarter. Invesco Ltd. now owns 2,638,737 shares of the real estate investment trust’s stock valued at $165,608,000 after purchasing an additional 122,899 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in National Storage Affiliates Trust by 26.8% during the third quarter. Geode Capital Management LLC now owns 2,307,156 shares of the real estate investment trust’s stock worth $121,794,000 after acquiring an additional 487,999 shares during the last quarter. 83.50% of the stock is currently owned by hedge funds and other institutional investors.

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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