OPINION
National Storage REIT (NSR) $2.34
NSR is Australia’s largest self-storage business, which we believe is cheap today after the surge in interest rates and spin-out by Abacus of its Storage King assets at a discounted valuation to NSR. This stock fits into our current defensive stance, helped by a forecasted 4.7% yield over the coming 12-months. Plus, we like the medium-term outlook for storage facilities as the country moves to higher-density living. Read moreNational Storage REIT (NSR) $2.31
NSR rallied strongly after the inflation data yesterday, although it remains below its late 2023 high. We are fans of this business, believing it enjoys the long-term macro tailwind of higher-density living leading to an increased demand for storage. We like NSR with a relatively depressed valuation since Abacus floated Storage King, while a yield of almost 5% should support the stock moving forward. Read moreNational Storage REIT (NSR) $2.31
We like NSR on several fronts, including the long-term trend of higher-density living, which creates an increased demand for storage over the years ahead. Read moreNational Storage REIT (NSR) $2.10
NSR closed up +1.9% on Monday, finally finding some love after struggling as bond yields leapt higher over the last few months. We were looking to increase our position into weakness under $2, but we’re happy to have been too pedantic if the stock can rally higher into Christmas. Interestingly, as yields retreat, one of the worst-performing property stocks through the tough September & October recovered strongly. Read moreNational Storage REIT (NSR) $2.00
NSR endured a tough end to October, but we remain committed to the mega trend that people will need to “store stuff” as a trend toward higher-density living becomes more common through Australia’s major cities. With a valuation of under 18x for FY24 and an estimated yield over the next 12-months of 5.85%, we believe NSR has become a very compelling story. Read moreNational Storage REIT (NSR) $2.25
NSR +2.27%: The largest supplier of self-storage in Australasia and recent addition to our Growth Portfolio reported FY23 results today that were ahead of expectations. FY23 EBITDA of $191.5m was ~4% ahead of consensus while post-tax profit of $141.8m was up 12% and in line with expectations. Read moreFlagship Growth Portfolio – Amendments
We are making multiple changes to the Flagship Growth Portfolio. Read more
