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. NSA is one of the largest owners and operators of self storage properties among public and private companies in the United States.
IPO Year: 2015
Exchange: NYSE
Website: nationalstorageaffiliates.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
9/9/2024 | Overweight → Sector Weight | KeyBanc Capital Markets | |
3/27/2024 | $39.00 | Equal Weight | Barclays |
1/30/2024 | $33.00 | Sell | Deutsche Bank |
1/5/2024 | $45.00 | Sector Weight → Overweight | KeyBanc Capital Markets |
12/11/2023 | $32.00 → $35.00 | In-line → Underperform | Evercore ISI |
8/8/2023 | $47.00 → $35.00 | Buy → Hold | Stifel |
6/15/2023 | $36.00 | Underweight | Wells Fargo |
6/12/2023 | $49.00 → $42.00 | Outperform → In-line | Evercore ISI |
5/8/2023 | $48.00 → $38.00 | Neutral → Underperform | BofA Securities |
4/13/2023 | Peer Perform → Underperform | Wolfe Research |
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) announced that its Board of Trustees today declared regular cash dividends for the fourth quarter 2024 payable on December 31, 2024 to shareholders of record on December 13, 2024 on the following securities: a dividend of $0.57 per common share, representing an annualized dividend rate of $2.28; and a dividend of $0.375 per share on the Company's 6.000% Series A Cumulative Redeemable Preferred Shares; and a dividend of $0.375 per share on the Company's 6.000% Series B Cumulative Redeemable Preferred Shares. Upcoming Industry Conference NSA management is scheduled to participate in the upcoming Nareit REITwor
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today reported the Company's third quarter 2024 results. Third Quarter 2024 Highlights Reported net income of $29.8 million for the third quarter of 2024, a decrease of 30.9% compared to the third quarter of 2023. Reported diluted earnings per share of $0.18 for the third quarter of 2024 compared to $0.26 for the third quarter of 2023. Reported core funds from operations ("Core FFO") of $83.9 million, or $0.62 per share and unit for the third quarter of 2024, a decrease of 7.5% per share compared to the third quarter of 2023. Reported a decrease in same store net operating income ("NOI") of 5.3% for the third quart
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today announced the Company will release financial results for the three months ended September 30, 2024, after market close on Wednesday, October 30, 2024. NSA will host a conference call to discuss its financial results, current market conditions and future outlook at 1:00 p.m. Eastern Time on Thursday, October 31, 2024. Following prepared remarks, management will accept questions from registered financial analysts. All other participants are encouraged to listen to the call via webcast using the link found on the Company's website. Conference Call and Webcast: Date/Time: Thursday, October 31, 2024, at 1:00 p.m. ET Web
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA), announced that its operating partnership, NSA OP, LP, has issued $350 million of aggregate principal amount of senior unsecured notes (the "Notes") with a weighted average maturity of 7.6 years and a weighted average coupon of 5.60% in a private placement with institutional investors. The Notes consist of three tranches: $75 million of 5.40% senior unsecured notes due September 5, 2028; $125 million of 5.55% senior unsecured notes due September 5, 2031; and $150 million of 5.74% senior unsecured notes due September 5, 2034. The Company plans to use proceeds from the issuance of the Notes to repay outstanding ind
Strategic Partnership Will Pursue 8.5 Million Square Feet of Commercial Rooftop Solar across 42 States and Puerto Rico National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) and Solar Landscape today announced they have entered into an agreement to pursue the installation of new solar capacity on rooftops across the Company's properties nationwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240826923600/en/(Graphic: Business Wire) NSA and Solar Landscape plan to develop at least 100 megawatts of solar capacity, which represents approximately 8.5 million square feet of rooftop space. NSA has granted Solar Lan
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today announced that the Company has appointed Warren Allan to its Board, effective August 15, 2024. Mr. Allan will also serve on the Company's Audit Committee. Additionally, Mark Van Mourick has retired from the board, effective August 15, 2024. Tamara Fischer, Executive Chairperson of the Board of Trustees, commented, "We are pleased to announce Warren's addition to our board as his extensive self storage experience as Co-Founder and previous President of Optivest Properties provides valuable knowledge and perspective. I'd like to also thank Mark Van Mourick, who has served on NSA's board since inception, for his in
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA), announced that its Board of Trustees today declared regular cash dividends for the third quarter 2024 payable on September 30, 2024 to shareholders of record on September 13, 2024 on the following securities: a dividend of $0.56 per common share, representing an annualized dividend rate of $2.24; and a dividend of $0.375 per share on the Company's 6.000% Series A Cumulative Redeemable Preferred Shares; and a dividend of $0.375 per share on the Company's 6.000% Series B Cumulative Redeemable Preferred Shares. Upcoming Industry Conference NSA management is scheduled to participate in the upcoming 2024 BofA Se
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today reported the Company's second quarter 2024 results. Second Quarter 2024 Highlights Reported net income of $32.3 million for the second quarter of 2024, a decrease of 29.0% compared to the second quarter of 2023. Reported diluted earnings per share of $0.16 for the second quarter of 2024 compared to $0.28 for the second quarter of 2023. Reported core funds from operations ("Core FFO") of $71.2 million, or $0.62 per share for the second quarter of 2024, a decrease of 8.8% per share compared to the second quarter of 2023. Reported a decrease in same store net operating income ("NOI") of 5.6% for the second q
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today announced the promotion of Pam Valentine to Senior Vice President, People Operations, from Vice President, People Operations. Ms. Valentine will continue to report to David Cramer, President and Chief Executive Officer. Mr. Cramer commented, "It's my pleasure to recognize Pam's significant achievements as the leader of our people operations team by promoting her to SVP. Since Pam joined NSA in 2021, she has made invaluable contributions to the Company, including overseeing the onboarding of staff from two PRO retirements, the current internalization of our eight remaining PROs and the onboarding of over 250 new ac
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today announced the Company will release financial results for the three months ended June 30, 2024, after market close on Monday, August 5, 2024. NSA will host a conference call to discuss its financial results, current market conditions and future outlook at 1:00 p.m. Eastern Time on Tuesday, August 6, 2024. Following prepared remarks, management will accept questions from registered financial analysts. All other participants are encouraged to listen to the call via webcast using the link found on the Company's website. Conference Call and Webcast: Date/Time: Tuesday, August 6, 2024, at 1:00 p.m. ET Webcast link avai
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National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today reported the Company's third quarter 2024 results. Third Quarter 2024 Highlights Reported net income of $29.8 million for the third quarter of 2024, a decrease of 30.9% compared to the third quarter of 2023. Reported diluted earnings per share of $0.18 for the third quarter of 2024 compared to $0.26 for the third quarter of 2023. Reported core funds from operations ("Core FFO") of $83.9 million, or $0.62 per share and unit for the third quarter of 2024, a decrease of 7.5% per share compared to the third quarter of 2023. Reported a decrease in same store net operating income ("NOI") of 5.3% for the third quart
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today announced the Company will release financial results for the three months ended September 30, 2024, after market close on Wednesday, October 30, 2024. NSA will host a conference call to discuss its financial results, current market conditions and future outlook at 1:00 p.m. Eastern Time on Thursday, October 31, 2024. Following prepared remarks, management will accept questions from registered financial analysts. All other participants are encouraged to listen to the call via webcast using the link found on the Company's website. Conference Call and Webcast: Date/Time: Thursday, October 31, 2024, at 1:00 p.m. ET Web
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today reported the Company's second quarter 2024 results. Second Quarter 2024 Highlights Reported net income of $32.3 million for the second quarter of 2024, a decrease of 29.0% compared to the second quarter of 2023. Reported diluted earnings per share of $0.16 for the second quarter of 2024 compared to $0.28 for the second quarter of 2023. Reported core funds from operations ("Core FFO") of $71.2 million, or $0.62 per share for the second quarter of 2024, a decrease of 8.8% per share compared to the second quarter of 2023. Reported a decrease in same store net operating income ("NOI") of 5.6% for the second q
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today announced the Company will release financial results for the three months ended June 30, 2024, after market close on Monday, August 5, 2024. NSA will host a conference call to discuss its financial results, current market conditions and future outlook at 1:00 p.m. Eastern Time on Tuesday, August 6, 2024. Following prepared remarks, management will accept questions from registered financial analysts. All other participants are encouraged to listen to the call via webcast using the link found on the Company's website. Conference Call and Webcast: Date/Time: Tuesday, August 6, 2024, at 1:00 p.m. ET Webcast link avai
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today reported the Company's first quarter 2024 results. First Quarter 2024 Highlights Reported net income of $95.1 million for the first quarter of 2024, an increase of 135.4% compared to the first quarter of 2023. Reported diluted earnings per share of $0.65 for the first quarter of 2024 compared to $0.24 for the first quarter of 2023. Reported core funds from operations ("Core FFO") of $72.4 million, or $0.60 per share for the first quarter of 2024, a decrease of 9.1% per share compared to the first quarter of 2023. Reported a decrease in same store net operating income ("NOI") of 3.7% for the first quarter
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today announced the Company will release financial results for the three months ended March 31, 2024, after market close on Wednesday, May 1, 2024. NSA will host a conference call to discuss its financial results, current market conditions and future outlook at 1:00 p.m. Eastern Time on Thursday, May 2, 2024. Following prepared remarks, management will accept questions from registered financial analysts. All other participants are encouraged to listen to the call via webcast using the link found on the Company's website. Conference Call and Webcast: Date/Time: Thursday, May 2, 2024, at 1:00 p.m. ET Webcast link availabl
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today reported the Company's fourth quarter and full year 2023 results. Fourth Quarter 2023 Highlights Reported net income of $108.1 million for the fourth quarter of 2023, an increase of 114.5% compared to the fourth quarter of 2022. Reported diluted earnings per share of $0.72 for the fourth quarter of 2023 compared to $0.31 for the fourth quarter of 2022. Reported core funds from operations ("Core FFO") of $83.6 million, or $0.68 per share for the fourth quarter of 2023, a decrease of 4.2% per share compared to the fourth quarter of 2022. Reported a decrease in same store net operating income ("NOI") of 1.
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today announced the Company will release financial results for the three months and year ended December 31, 2023, after market close on Wednesday, February 28, 2024. NSA will host a conference call to discuss its financial results, current market conditions and future outlook at 1:00 p.m. Eastern Time on Thursday, February 29, 2024. Following prepared remarks, management will accept questions from registered financial analysts. All other participants are encouraged to listen to the call via webcast using the link found on the Company's website. Conference Call and Webcast: Date/Time: Thursday, February 29, 2024, at 1:00
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today reported the Company's third quarter 2023 results. Third Quarter 2023 Highlights Reported net income of $43.1 million for the third quarter of 2023, an increase of 7.2% compared to the third quarter of 2022. Reported diluted earnings per share of $0.26 for the third quarter of 2023 compared to $0.21 for the third quarter of 2022. Reported core funds from operations ("Core FFO") of $85.8 million, or $0.67 per share for the third quarter of 2023, a decrease of 6.9% per share compared to the third quarter of 2022. An increase in net operating income ("NOI") of $6.0 million was more than offset by an increase i
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA) today announced the Company will release financial results for the three months ended September 30, 2023, after market close on Wednesday, November 1, 2023. NSA will host a conference call to discuss its financial results, current market conditions and future outlook at 1:00 p.m. Eastern Time on Thursday, November 2, 2023. Following prepared remarks, management will accept questions from registered financial analysts. All other participants are encouraged to listen to the call via webcast using the link found on the Company's website. Conference Call and Webcast: Date/Time: Thursday, November 2, 2023, at 1:00 p.m. ET We
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KeyBanc Capital Markets downgraded National Storage Affiliates from Overweight to Sector Weight
Barclays initiated coverage of National Storage Affiliates with a rating of Equal Weight and set a new price target of $39.00
Deutsche Bank initiated coverage of National Storage Affiliates with a rating of Sell and set a new price target of $33.00
KeyBanc Capital Markets upgraded National Storage Affiliates from Sector Weight to Overweight and set a new price target of $45.00
Evercore ISI downgraded National Storage Affiliates from In-line to Underperform and set a new price target of $35.00 from $32.00 previously
Stifel downgraded National Storage Affiliates from Buy to Hold and set a new price target of $35.00 from $47.00 previously
Wells Fargo initiated coverage of National Storage Affiliates with a rating of Underweight and set a new price target of $36.00
Evercore ISI downgraded National Storage Affiliates from Outperform to In-line and set a new price target of $42.00 from $49.00 previously
BofA Securities downgraded National Storage Affiliates from Neutral to Underperform and set a new price target of $38.00 from $48.00 previously
Wolfe Research downgraded National Storage Affiliates from Peer Perform to Underperform
National Storage Affiliates Trust ("NSA" or the "Company") (NYSE:NSA), today announced its Board of Trustees has elevated Tamara Fischer, Chief Executive Officer, to Executive Chair, effective April 1, 2023. Tammy has served as an officer of NSA since its IPO in 2015 and as its CEO and member of the Board of Trustees of NSA since 2020. As part of this planned transition of responsibilities, effective April 1, 2023, David Cramer will be appointed Chief Executive Officer, in addition to his current role as President. Arlen Nordhagen will remain on the Board and will transition to Vice Chair, from his current role as Executive Chairman. Dave Cramer joined NSA in April 2020, and currently ser
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The anticipation of Federal Reserve rate cuts is starting to have a favorable impact on the real estate mortgage market. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased by 13 basis points to 6.87% for the week ending July 12, 2024, down from 7% the prior week, as reported by the Mortgage Bankers Association Wednesday. This decline represents the most significant drop in borrowing costs in around four months and the lowest rate since early March. Fed Rate Cut Bets, Lower Treasury Yields Push Mortgage Rates Down The reduction was largely propelled by rising expectations on Fed rate cuts and the fall i
Evercore ISI Group analyst Steve Sakwa maintains National Storage (NYSE:NSA) with a Underperform and raises the price target from $36 to $40.
National Storage's (NYSE:NSA) short percent of float has fallen 19.42% since its last report. The company recently reported that it has 4.32 million shares sold short, which is 8.88% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.31 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short inter
As of June 17, 2024, four stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here's the latest list of major overbought players in this sector. Essex Property Trust Inc (NYSE:ESS) On June 14, Scotiabank analyst Nicholas Yulico maintaine
National Storage (NYSE:NSA) reported quarterly earnings of $0.60 per share which met the analyst consensus estimate. The company reported quarterly sales of $173.87 million which missed the analyst consensus estimate of $191.02 million by 8.98 percent. This is a 16.41 percent decrease over sales of $207.99 million the same period last year.
Barclays analyst Brendan Lynch initiates coverage on National Storage (NYSE:NSA) with a Equal-Weight rating and announces Price Target of $39.
2024 GuidanceThe following table outlines NSA's Core FFO per share guidance estimates and related assumptions for the year ended December 31, 2024. Ranges for Full Year2024 ActualResults forFull Year2023 Low High Core FFO per share(1) $2.40 $2.56 $2.69 Same store operations(2) Total revenue growth (4.0)% 0.0% 2.4%Property operating expenses growth 3.0% 5.0% 4.7%NOI growth (6.0)% (2.0)% 1.6% General and administrative expenses General and administrative expenses (excluding equity-based compensation), in millions $54.5 $56.5 $52.6 Equity-based compensation, in millions $7.25 $7.75 $6.7 Management fees and other revenue, in millions $32.0 $34.0 $
National Storage (NYSE:NSA) reported quarterly earnings of $0.68 per share which beat the analyst consensus estimate of $0.65 by 4.62 percent. This is a 4.23 percent decrease over earnings of $0.71 per share from the same period last year. The company reported quarterly sales of $215.41 million which beat the analyst consensus estimate of $207.53 million by 3.80 percent. This is a 3.21 percent increase over sales of $208.72 million the same period last year.
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