Capital One Financial weighs in on National Storage Affiliates Trust’s third quarter 2022 results (NYSE:NSA)


National Storage Affiliates Trust (New York Stock Exchange: NSAGet a rating) – Capital One Financial raised its third quarter 2022 earnings per share (EPS) estimate for shares of National Storage Affiliates Trust in a note to investors on Tuesday, May 24. Capital One Financial analyst N. Malkin now expects the real estate investment trust to post earnings per share of $0.74 for the quarter, up from its previous forecast of 0.71 $. Capital One Financial also released estimates for National Storage Affiliates Trust Q4 2022 profit at $0.74 EPS, full year 2022 profit at $2.85 EPS, Q1 2023 profit 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 (New York Stock Exchange: NSAGet a rating) last released its quarterly earnings data on Wednesday, May 4. The real estate investment trust reported earnings per share of $0.24 for the quarter, missing the consensus estimate of $0.67 per ($0.43). National Storage Affiliates Trust had a net margin of 16.87% and a return on equity of 5.45%. The company posted revenue of $187.20 million in the quarter, versus analyst estimates of $183.80 million. In the same period last year, the company earned $0.49 per share. The company’s quarterly revenue increased by 52.2% compared to the same quarter last year.

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

Shares of NSA action opened at $50.50 on Thursday. The company has a debt 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 minimum of $45.23 and a fifty-two week maximum of $70.04. The stock has a 50-day simple moving average of $58.60 and a 200-day simple moving average of $61.15. The company has a market capitalization of $4.62 billion, a P/E ratio of 50.50, a PEG ratio of 1.88 and a beta of 0.60.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 31. Shareholders of record on Tuesday, March 15 received a dividend of $0.50 per share. This represents an annualized dividend of $2.00 and a yield of 3.96%. The ex-dividend date was Monday, March 14. 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 in a trade on Wednesday March 16. 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, available at this link. 11.80% of the shares are currently held by insiders of the company.

Several hedge funds have recently increased or reduced their stakes in the company. Vanguard Group Inc. increased 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 worth $816,183,000 after purchasing an additional 179,504 shares in the last quarter. BlackRock Inc. increased its position in 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 worth $807,965,000 after purchasing an additional 53,622 shares during the period. State Street Corp increased its position in National Storage Affiliates Trust shares by 14.1% in the first quarter. State Street Corp now owns 4,844,317 shares of the real estate investment trust valued at $304,029,000 after buying an additional 598,640 shares in the last quarter. Invesco Ltd. increased its position in National Storage Affiliates Trust shares by 4.9% in the first quarter. Invesco Ltd. now owns 2,638,737 shares of the real estate investment trust valued at $165,608,000 after purchasing an additional 122,899 shares in the last quarter. Finally, Geode Capital Management LLC increased 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 worth $121,794,000 after acquiring an additional 487,999 shares in the last quarter. 83.50% of the shares are currently held by hedge funds and other institutional investors.

National Storage Affiliates Trust Company Profile (Get a rating)

National Storage Affiliates Trust is a Maryland real estate investment trust focused on owning, operating and acquiring self-storage properties located in the 100 major metropolitan statistical areas of the United States. As of September 30, 2020, the Company owned interests in and operated 788 self-storage properties located in 35 states and Puerto Rico with approximately 49.5 million leasable square feet.

Further reading

Earnings history and estimates for National Storage Affiliates Trust (NYSE:NSA)



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