KeyCorp Comments on National Storage Affiliates Trust’s Q1 2023 Earnings (NYSE:NSA)

National Storage Affiliates Trust (NYSE:NSAGet Rating) – Equities research analysts at KeyCorp increased their Q1 2023 earnings per share (EPS) estimates for shares of National Storage Affiliates Trust in a research note issued to investors on Wednesday, June 15th. KeyCorp analyst T. Thomas now anticipates that the real estate investment trust will post earnings per share of $0.72 for the quarter, up from their prior forecast of $0.71. The consensus estimate for National Storage Affiliates Trust’s current full-year earnings is $2.84 per share. KeyCorp also issued estimates for National Storage Affiliates Trust’s Q2 2023 earnings at $0.76 EPS, Q3 2023 earnings at $0.78 EPS, Q4 2023 earnings at $0.78 EPS and FY2023 earnings at $3.03 EPS.

Other research analysts also recently issued research reports about the company. Morgan Stanley dropped their price target on National Storage Affiliates Trust from $60.00 to $52.00 in a research note on Wednesday, May 25th. StockNews.com assumed coverage on National Storage Affiliates Trust in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Truist Financial lowered their target price on National Storage Affiliates Trust from $61.00 to $57.00 and set a “hold” rating on the stock in a research note on Wednesday, June 1st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, National Storage Affiliates Trust presently has an average rating of “Hold” and a consensus price target of $59.14.

NYSE:NSA opened at $46.34 on Friday. The stock’s 50 day moving average price is $55.06 and its 200 day moving average price is $59.93. The company has a market capitalization of $4.24 billion, a PE ratio of 46.34, a P/E/G ratio of 1.87 and a beta of 0.61. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.31. National Storage Affiliates Trust has a 52-week low of $45.13 and a 52-week high of $70.04.

National Storage Affiliates Trust (NYSE:NSAGet Rating) last issued its earnings results 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 return on equity of 5.45% and a net margin of 16.87%. The business had revenue of $187.20 million for the quarter, compared to analyst estimates of $183.80 million. During the same period last year, the business posted $0.49 EPS. National Storage Affiliates Trust’s revenue was up 52.2% on a year-over-year basis.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of National Storage Affiliates Trust by 1.4% in 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 acquiring an additional 179,504 shares during the last quarter. BlackRock Inc. raised its holdings in shares of National Storage Affiliates Trust by 0.4% in the first quarter. BlackRock Inc. now owns 12,873,852 shares of the real estate investment trust’s stock worth $807,965,000 after acquiring an additional 53,622 shares during the last quarter. State Street Corp raised its holdings 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 worth $304,029,000 after acquiring an additional 598,640 shares during the last quarter. Invesco Ltd. raised its holdings 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 worth $165,608,000 after acquiring an additional 122,899 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of National Storage Affiliates Trust by 13.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,744,964 shares of the real estate investment trust’s stock valued at $120,752,000 after purchasing an additional 200,891 shares during the period. 83.50% of the stock is owned by institutional investors.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This is a boost from National Storage Affiliates Trust’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a yield of 4.75%. National Storage Affiliates Trust’s payout ratio is currently 220.00%.

About National Storage Affiliates Trust (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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