National Storage Affiliates Trust (NSA)
National Storage Affiliates Trust (NSA) Q3 2024 Earnings Call Transcript
National Storage Affiliates Trust. (NYSE:NSA ) Q3 2024 Earnings Conference Call October 31, 2024 1:00 PM ET Company Participants George Hoglund - Vice President, Investor Relations David Cramer - President and CEO Brandon Togashi - Chief Financial Officer Conference Call Participants Juan Sanabria - BMO Capital Markets Todd Thomas - KeyBanc Capital Markets Jeffrey Spector - Bank of America Michael Goldsmith - UBS Omotayo Okusanya - Deutsche Bank Ronald Kamdem - Morgan Stanley Salil Mehta - Green Street Brendan Lynch - Barclays Operator Greetings, and welcome to the National Storage Affiliates' Third Quarter 2024 Conference Call.
National Storage (NSA) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
The headline numbers for National Storage (NSA) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
National Storage (NSA) Beats Q3 FFO and Revenue Estimates
National Storage (NSA) came out with quarterly funds from operations (FFO) of $0.62 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to FFO of $0.67 per share a year ago.
Why I Just Bought These 2 High-Yield REIT Stocks
Realty Income and National Storage Affiliates have solid businesses with great long-term prospects. The REITs' juicy dividends give them a nice head start on delivering strong total returns.
3 High-Yield Dividend Stocks to Buy Sooner Rather Than Later
These three stocks offer forward dividend yields of between 4.8% and 5.11%. Two are REITs that should benefit from Fed rate cuts that are likely on the way later this month.
National Storage Affiliates: A Potential Recovery Is Already Priced In
National Storage Affiliates is a storage REIT focused on the Sun Belt region, particularly Texas, Florida, and California. The REIT has performed in line with the Vanguard Real Estate Index Fund ETF in 2024 despite poor operating performance. While it is reasonable to expect operations to stabilize going into 2025, there is no alpha in NSA shares given the high valuation multiples.
National Storage Affiliates Trust (NSA) Q2 2024 Earnings Call Transcript
National Storage Affiliates Trust (NYSE:NSA ) Q2 2024 Results Conference Call August 6, 2024 1:00 PM ET Company Participants George Hoglund - Vice President, Investor Relations Dave Cramer - President and CEO Brandon Togashi - Chief Financial Officer Conference Call Participants Juan Sanabria - BMO Capital Markets Samir Khanal - Evercore ISI Spenser Allaway - Green Street Advisors Todd Thomas - KeyBanc Capital Markets Ki Bin Kim - Truist Securities Michael Goldsmith - UBS Eric Wolfe - Citi Eric Luebchow - Wells Fargo Jeffrey Spector - Bank of America Omotayo Okusanya - Deutsche Bank Brendan Lynch - Barclays Keegan Carl - Wolfe Research Ron Kamdem - Morgan Stanley Operator Greetings, and welcome to the National Storage Affiliates Second Quarter 2024 Conference Call. [Operator Instructions].
Compared to Estimates, National Storage (NSA) Q2 Earnings: A Look at Key Metrics
While the top- and bottom-line numbers for National Storage (NSA) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
National Storage (NSA) Q2 FFO and Revenues Lag Estimates
National Storage (NSA) came out with quarterly funds from operations (FFO) of $0.62 per share, missing the Zacks Consensus Estimate of $0.63 per share. This compares to FFO of $0.68 per share a year ago.
National Storage: Upside Remains After My Last Article
National Storage Affiliates (NSA) has seen over 20% outperformance since the last update. NSA is executing strategic initiatives, including asset rotation and JV partnerships, to improve portfolio concentration and generate capital. Despite projected FFO decline, NSA remains appealing due to valuation, potential growth, and historical performance.
National Storage Affiliates: A Distressed REIT With A Premium Valuation
National Storage Affiliates is a storage REIT with 65% exposure to the Sun Belt region. Occupancy and net operating income were both down Y/Y so far in 2024. The debt maturity profile is well-staggered, with net debt representing 40% of enterprise value.
