NATIONAL STORAGE REIT (NSR)
Share Price Analysis and Chart

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NSR - NATIONAL STORAGE REIT

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 5.32
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

$2.18

02 Oct
2023

0.000

OPEN

$2.18

0.000

HIGH

$2.20

2,294,061

LOW

$2.17

TARGET
$2.323 6.5% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . ASK . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DXC . DXI . DXS . ECF . GDF . GDI . HCW . HDN . NPR . PLG . REP . RFF . RGN . SCG . TGP . URW . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
NSR: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 25.8 11.2 xxx
DPS (cps) xxx 11.0 10.7 xxx
EPS Growth xxx - 50.5% - 56.7% xxx
DPS Growth xxx 10.0% - 3.0% xxx
PE Ratio xxx N/A 19.5 xxx
Dividend Yield xxx N/A 4.9% xxx
Div Pay Ratio(%) xxx 42.7% 95.5% xxx

Dividend yield today if purchased 3 years ago: 5.95%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.05

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: 29/06 - ex-div 5.5c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2023 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx25.8
DPS All xxxxxxxxxxxxxxx11.0
Sales/Revenue xxxxxxxxxxxxxxx331.4 M
Book Value Per Share xxxxxxxxxxxxxxx251.2
Net Operating Cash Flow xxxxxxxxxxxxxxx143.3 M
Net Profit Margin xxxxxxxxxxxxxxx96.67 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx10.29 %
Return on Invested Capital xxxxxxxxxxxxxxx7.70 %
Return on Assets xxxxxxxxxxxxxxx7.42 %
Return on Equity xxxxxxxxxxxxxxx10.29 %
Return on Total Capital xxxxxxxxxxxxxxx4.63 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx31.7 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx11 M
Long Term Debt xxxxxxxxxxxxxxx1,031 M
Total Debt xxxxxxxxxxxxxxx1,043 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx67 M
Price To Book Value xxxxxxxxxxxxxxx0.94

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx7.8 M
Capex % of Sales xxxxxxxxxxxxxxx2.34 %
Cost of Goods Sold xxxxxxxxxxxxxxx7 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx131 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx4,405 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

4
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

3

xxxxxxxxxx xx xxxxxxxx xxxx xxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Macquarie

24/08/2023

3

Upgrade to Neutral from Underperform

$2.30

5.50%

National Storage REIT's underlying earnings were in line with Macquarie's estimates in FY23 while FY24 underlying EPS guidance is 14% ahead of expectations.

Although there is limited evidence of distress, the company has indicated that vendors are considering asset sales as they become more cautious about the macro economic outlook.

As gearing is at 20% following the equity raising in March, the broker believes the business is well able to take advantage of opportunities for acquisitions in the medium term. Rating is upgraded to Neutral from Underperform and the target lifted to $2.30 from $2.23.

FORECAST
Macquarie forecasts a full year FY24 dividend of 10.70 cents and EPS of 11.30 cents.
Macquarie forecasts a full year FY25 dividend of 11.30 cents and EPS of 11.90 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >

NSR STOCK CHART

FNArena News on NSR

1
Australian Broker Call *Extra* Edition – Aug 30, 2023

Aug 30 2023 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 25-08-23

Aug 28 2023 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Aug 25, 2023

Aug 25 2023 - Daily Market Reports
4
FNArena Corporate Results Monitor – 24-08-2023

Aug 24 2023 - Australia
5
Australian Broker Call *Extra* Edition – Aug 22, 2023

Aug 22 2023 - Daily Market Reports

Latest REITs News

1
ESG Focus: The Little Big Things – 27-09-2023

Sep 27 2023 - ESG Focus
2
Australian Listed Real Estate Tables – 25-09-2023

Sep 25 2023 - Weekly Reports
3
Australian Listed Real Estate Tables – 18-09-2023

Sep 18 2023 - Weekly Reports
4
Australian Listed Real Estate Tables – 11-09-2023

Sep 11 2023 - Weekly Reports
5
Australian Listed Real Estate Tables – 04-09-2023

Sep 04 2023 - Weekly Reports
6
Australian Listed Real Estate Tables – 28-08-2023

Aug 28 2023 - Weekly Reports
7
Australian Listed Real Estate Tables – 22-08-2023

Aug 22 2023 - Weekly Reports
8
Australian Listed Real Estate Tables – 14-08-2023

Aug 14 2023 - Weekly Reports
9
Australian Listed Real Estate Tables – 07-08-2023

Aug 07 2023 - Weekly Reports
10
Australian Listed Real Estate Tables – 31-07-2023

Jul 31 2023 - Weekly Reports