NATIONAL STORAGE REIT (NSR)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

NSR

NSR - NATIONAL STORAGE REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 9.01
Index: ASX200 | ASX300 | ALL-ORDS

National Storage is a real estate trust that owns and operates over 160 self storage facilities in Australia and New Zealand. It listed on the ASX in 2013.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$2.75

11 Feb
2026

-0.010

OPEN

$2.75

-0.36%

HIGH

$2.76

2,676,193

LOW

$2.75

TARGET
$2.76 0.4% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DGT . DXC . DXI . DXS . GDF . GDI . HCW . HDN . PLG . REP . RFF . RGN . SCG . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
NSR: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 17.1 12.5 xxx
DPS (cps) xxx 11.1 11.9 xxx
EPS Growth xxx 0.9% - 26.9% xxx
DPS Growth xxx 0.9% 6.9% xxx
PE Ratio xxx N/A 22.0 xxx
Dividend Yield xxx N/A 4.3% xxx
Div Pay Ratio(%) xxx 65.1% 95.1% xxx

Dividend yield today if purchased 3 years ago: 4.81%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.04

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 30/12 - ex-div 6c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic 14.930.352.125.816.917.1
DPS All 8.18.210.011.011.011.1
Sales/Revenue 177.9 M217.7 M278.1 M331.4 M354.9 M392.5 M
Book Value Per Share 169.0193.1237.5251.2255.9261.4
Net Operating Cash Flow 75.3 M113.7 M141.2 M143.3 M124.9 M129.5 M
Net Profit Margin 68.45 %142.23 %223.20 %96.67 %64.88 %60.15 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed 8.05 %15.46 %24.23 %10.29 %6.68 %6.61 %
Return on Invested Capital 4.99 %10.85 %17.60 %7.70 %4.90 %4.60 %
Return on Assets 4.84 %10.51 %16.99 %7.42 %4.72 %4.31 %
Return on Equity 8.05 %15.46 %24.23 %10.29 %6.68 %6.61 %
Return on Total Capital 3.83 %3.82 %4.23 %4.63 %4.50 %4.08 %
Free Cash Flow ex dividends 22.9 M49.8 M58.5 M31.7 M10.2 M-3.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt 6 M9 M11 M11 M12 M319 M
Long Term Debt 842 M860 M1,070 M1,031 M1,478 M1,654 M
Total Debt 848 M869 M1,081 M1,043 M1,489 M1,974 M
Goodwill - Gross ------
Cash & Equivalents - Generic 90 M96 M84 M67 M55 M66 M
Price To Book Value 1.091.030.900.940.900.88

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex 1.6 M1.6 M7.1 M7.8 M12.8 M31.7 M
Capex % of Sales 0.87 %0.72 %2.56 %2.34 %3.61 %8.08 %
Cost of Goods Sold 4 M6 M8 M7 M6 M6 M
Selling, General & Admin. Exp & Other 80 M102 M120 M131 M137 M170 M
Research & Development ------
Investments - Total 2,452 M3,058 M3,851 M4,405 M4,856 M5,563 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.0

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

-1

xx xxxxxx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Ord Minnett

16/01/2026

3

Downgrade to Hold from Accumulate

$2.75

0%

Post a review of the property sector which factors in possible interest rate rises in 2026, Ord Minnett increases the estimated interest costs for all property stocks, with the risk-free rate forecast rising to 4.5% from 4%.

National Storage REIT is downgraded to Hold from Accumulate with a new target of $2.75. No change to FY26 EPS forecast with FY27 down -0.4%.

UBS

xx/xx/xxxx

3

xxxxxxxxx xx xxxxxxx xxxx xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgan Stanley

xx/xx/xxxx

3

xxxxxxx xx xxxxx-xxxxxx xxxx xxxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

19/01/2026

3

Downgrade to Neutral from Buy

$2.90

5.45%

Ahead of the February results season, sector analysts at Jarden have updated mark-to-market and valuations modeling, incorporating recent news flow and fresh insights.

Overall, sector earnings estimates have changed only slightly, and the same goes for valuations. The update has generated four changes in ratings for individual stocks in the sector.

National Storage REIT's rating is now Neutral (down from Buy) with unchanged price target of $2.90.

FORECAST
Jarden forecasts a full year FY26 dividend of 11.80 cents and EPS of 11.50 cents.
Jarden forecasts a full year FY27 dividend of 12.30 cents and EPS of 12.30 cents.
Access Extra Coverage Research History >

NSR STOCK CHART

FNArena News on NSR

1
Weekly Ratings, Targets, Forecast Changes – 30-01-26

Feb 02 2026 - Weekly Reports
2
In Case You Missed It – BC Extra Upgrades & Downgrades – 23-01-26

Jan 23 2026 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Jan 19, 2026

Jan 19 2026 - Daily Market Reports
4
Weekly Ratings, Targets, Forecast Changes – 16-01-26

Jan 19 2026 - Weekly Reports
5
Weekly Ratings, Targets, Forecast Changes – 19-12-25

Dec 22 2025 - Weekly Reports

Latest REITs News

1
Australian Listed Real Estate Tables – 09-02-2026

Feb 09 2026 - Weekly Reports
2
Australian Listed Real Estate Tables – 02-02-2026

Feb 02 2026 - Weekly Reports
3
Australian Listed Real Estate Tables – 27-01-2026

Jan 27 2026 - Weekly Reports
4
Australian Listed Real Estate Tables – 22-12-2025

Dec 22 2025 - Weekly Reports
5
Australian Listed Real Estate Tables – 15-12-2025

Dec 15 2025 - Weekly Reports
6
Australian Listed Real Estate Tables – 08-12-2025

Dec 08 2025 - Weekly Reports
7
Australian Listed Real Estate Tables – 01-12-2025

Dec 01 2025 - Weekly Reports
8
Australian Listed Real Estate Tables – 24-11-2025

Nov 24 2025 - Weekly Reports
9
Australian Listed Real Estate Tables – 17-11-2025

Nov 17 2025 - Weekly Reports
10
Australian Listed Real Estate Tables – 10-11-2025

Nov 10 2025 - Weekly Reports