Stock Monitor: Monmouth Real Estate Investment Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 18, 2017 / Active-Investors free earnings report on National Storage Affiliates Trust (NYSE: NSA) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=NSA. The Company posted its financial results on November 06, 2017, for the third quarter of the fiscal year 2017. The real estate investment trust's revenues surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:
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Earnings Highlights and Summary
For the three months ended September 30, 2017, National Storage Affiliates' total revenue increased 30% to $68.86 million from $52.95 million in Q3 FY16. The Company's revenue numbers surpassed analysts' expectations of $66.54 million.
For the reported quarter, the Company's net operating income increased 27% to $45.24 million from $35.62 million in Q3 FY16. During Q3 FY17, the Company's average occupancy was 90.4% compared to 91.0% in Q3 FY16.
For the reported quarter, the Company's same-store net operating income increased 6.7% to $30.52 million from $28.60 million in Q3 FY16. For the reported quarter, the Company's same-store average occupancy was 90.9% compared to 91.4% in Q3 FY16.
For the reported quarter, National Storage Affiliates' earnings before interest, tax, depreciation, and amortization (EBITDA) increased 43.5% to $41.05 million from $28.61 million in Q3 FY16. For the reported quarter, National Storage Affiliates' adjusted EBITDA increased 35.3% to $42.01 million from $31.03 million in Q3 FY16. During Q3 FY17, the Company's adjusted EBITDA margin increased 240 basis points to 61% of revenue from 58.6% of revenue in the same period of last year.
During Q3 FY17, National Storage Affiliates' operating income increased 32.8% to $21.30 million from $16.04 million in the comparable period of last year. For the reported quarter, the Company's operating margin increased 60 basis points to 30.9% of revenue from 30.3% of revenue in Q3 FY16.
During Q3 FY17, National Storage Affiliates' earnings before tax (EBT) increased 42% to $11.39 million from $8.02 million in the corresponding period of last year. For the reported quarter, the Company's EBT margin increased 140 basis points to 16.5% of revenue from 15.1% of revenue in Q3 FY16.
For the reported quarter, National Storage Affiliates' net income increased 41.4% to $11.23 million on a y-o-y basis from $7.94 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) was $0.03, which was below analysts' expectations of $0.21.
For the reported quarter, National Storage Affiliates' funds from operations (FFO) increased 43.2% to $23.65 million on a y-o-y basis from $16.51 million in Q3 FY16. During Q3 FY17, the Company's FFO per share increased 23.1% to $0.32 on a y-o-y basis from $0.26 in the same period of last year. For the reported quarter, National Storage Affiliates' adjusted funds from operation (AFFO) increased 30.4% to $23.79 million on a y-o-y basis from $18.25 million in Q3 FY16. During Q3 FY17, the Company's AFFO per share increased 13.8% to $0.33 on a y-o-y basis from $0.29 in Q3 FY16, and was in-line with analysts' expectations of $0.33.
As on September 30, 2017, National Storage Affiliates' cash and cash equivalents increased 8.8% to $13.67 million from $12.57 million as on December 31, 2016.
On November 10, 2017, the Company's Board of Directors declared a quarterly dividend of $0.28 per common share, payable on December 29, 2017, to shareholders of record on December 15, 2017.
Stock Performance Snapshot
December 15, 2017 - At Friday's closing bell, National Storage Affiliates Trust's stock climbed 2.35%, ending the trading session at $26.62.
Volume traded for the day: 1.23 million shares, which was above the 3-month average volume of 426.42 thousand shares.
Stock performance in the last month – up 2.42%; previous three-month period – up 11.75%; past twelve-month period – up 28.85%; and year-to-date – up 20.62%
After last Friday's close, National Storage Affiliates Trust's market cap was at $1.23 billion.
Price to Earnings (P/E) ratio was at 140.85.
The stock has a dividend yield of 4.21%.
The stock is part of the Financial sector, categorized under the REIT - Industrial industry. This sector was up 0.7% at the end of the session.
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