National Storage (NYSE:NSA) Plans Dividend Increase – $0.29 Per Share

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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 3.91%. The ex-dividend date is Thursday, June 14th. This is a positive change from National Storage’s previous quarterly dividend of $0.28.

National Storage has a payout ratio of 90.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research 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%.

Shares of National Storage opened at $29.69 on Friday, MarketBeat Ratings reports. The firm has a market capitalization of $1.50 billion, a PE ratio of 23.94, a PEG ratio of 2.75 and a beta of 0.60. National Storage has a 1-year low of $21.17 and a 1-year high of $30.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.96.

National Storage (NYSE:NSA) last announced 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 Thomson Reuters’ 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 firm had revenue of $76.49 million for the quarter, compared to analyst estimates of $76.72 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The business’s revenue for the quarter was up 24.3% on a year-over-year basis. analysts anticipate that National Storage will post 1.35 EPS for the current year.

A number of research analysts have issued reports on the stock. B. Riley set a $23.00 target price on shares of National Storage and gave the company a “hold” rating in a research report on Monday, February 26th. ValuEngine raised shares of National Storage from a “hold” rating to a “buy” rating in a research note on Tuesday, May 29th. BMO Capital Markets began coverage on shares of National Storage in a research note on Friday, April 6th. They set a “market perform” rating and a $26.00 price target for the company. Morgan Stanley raised their target price on shares of National Storage from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, June 14th. Finally, Jefferies Financial 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 investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. National Storage presently has a consensus rating of “Hold” and an average target price of $26.33.

National Storage Company Profile

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 top 100 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.

Dividend History for National Storage (NYSE:NSA)

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