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

National Storage Affiliates Trust (NYSE:NSA – Get Rating) declared a quarterly dividend on Friday, May 26th, Wall Street Journal reports. Stockholders of record on Thursday, June 15th will be paid 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 dividend yield of 6.06%. The ex-dividend date 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 increased its dividend by an average of 19.2% per year over the last three years and has raised its dividend every year for the last 8 years. National Storage Affiliates Trust has a 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. Equities 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 Stock Performance

Shares of NSA traded up $0.63 during mid-day trading on Friday, hitting $36.98. 437,419 shares of the company’s stock were exchanged, compared to its average volume of 721,690. National Storage Affiliates Trust has a 52 week low of $34.90 and a 52 week high of $58.31. The stock’s 50-day simple moving average is $39.45 and its 200-day simple moving average is $39.41. The firm 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. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.76.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. 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 valued at $816,183,000 after buying an additional 179,504 shares during the last quarter. State Street Corp grew 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 purchasing an additional 598,640 shares during the last quarter. Invesco Ltd. grew 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 purchasing an additional 122,899 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of National Storage Affiliates Trust by 2.5% in the first quarter. Geode Capital Management LLC now owns 1,391,446 shares of the real estate investment trust’s stock worth $58,135,000 after purchasing an additional 34,308 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of National Storage Affiliates Trust by 1.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,365,683 shares of the real estate investment trust’s stock worth $49,328,000 after purchasing an additional 21,790 shares during the last quarter. 85.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NSA. Bank of America cut 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. StockNews.com initiated coverage on shares of National Storage Affiliates Trust in a report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Wolfe Research cut National Storage Affiliates Trust from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, April 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.90.

National Storage Affiliates Trust Company Profile

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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.