National Storage (NYSE:NSA) announced a quarterly dividend on Wednesday, May 23rd, RTT News reports. Shareholders of record on Friday, June 15th will be given a dividend of 0.29 per share by the real estate investment trust on Friday, June 29th. This represents a $1.16 dividend on an annualized basis and a yield of 4.31%. This is an increase from National Storage’s previous quarterly dividend of $0.28.
National Storage has a payout ratio of 90.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect National Storage to earn $1.46 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 76.7%.
NSA stock opened at $26.93 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.76 and a quick ratio of 0.76. National Storage has a 52-week low of $21.17 and a 52-week high of $28.55. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 2.43 and a beta of 0.58.
National Storage (NYSE:NSA) last released its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.14. National Storage had a net margin of 4.55% and a return on equity of 1.24%. The company had revenue of $76.49 million during the quarter, compared to analysts’ expectations of $76.72 million. During the same period in the prior year, the company earned $0.29 earnings per share. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. equities analysts anticipate that National Storage will post 1.35 EPS for the current fiscal year.
NSA has been the subject of several research reports. BMO Capital Markets initiated coverage on shares of National Storage in a research note on Friday, April 6th. They issued a “market perform” rating and a $26.00 target price for the company. Zacks Investment Research cut shares of National Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Citigroup initiated coverage on shares of National Storage in a research note on Tuesday, February 13th. They issued a “neutral” rating and a $24.00 target price for the company. B. Riley increased their target price on shares of National Storage from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Finally, Jefferies Group set a $30.00 target price on shares of National Storage and gave the company a “buy” rating in a research note on Monday, March 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. National Storage presently has a consensus rating of “Hold” and an average price target of $26.25.
In other news, Director Mourick Mark Van sold 13,667 shares of National Storage stock in a transaction on Friday, March 16th. The shares were sold at an average price of $25.64, for a total transaction of $350,421.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 13.10% of the company’s stock.
National Storage Company Profile
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 533 self storage properties located in 29 states with approximately 33 million rentable square feet.
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