The calculations below outline how an intrinsic value for
National Storage REIT
is arrived at by discounting future cash flows to their present value. We use
analyst's estimates of cash flows going forward 5 years.
See our documentation to learn about this calculation.
|Levered FCF (AUD, Millions)||A$50.10||A$65.13||A$60.65||A$70.96||A$82.31|
|Source||Analyst x2||Analyst x3||Analyst x2||Extrapolated @ (17%, capped from 26.79%)||Extrapolated @ (16%, capped from 26.79%)|
Discounted (@ 8.55%)
Present value of next 5 years cash flows:
Terminal Value = FCF2022 × (1 + g) ÷ (Discount Rate – g)
Terminal Value = A$82 × (1 + 2.76%) ÷ (8.55% – 2.76%)
Terminal value based on the Perpetuity Method where growth (g) =
Present value of terminal value:
Equity Value (Total value) = Present value of next 5 years cash flows +
A$1,223 = A$255 + A$969
Value = Total value / Shares Outstanding (A$1,223 / 556)Discount to Share Price
Value per share:
Current discount (share price of A$1.5): 32.08%
The discount rate, or required rate of return, is estimated by calculating the Cost of Equity.
Discount rate = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
Discount rate = 8.55% = 2.76% + (0.8 * 7.24%)
The Levered Beta is the Unlevered Beta adjusted for financial leverage. It is limited to 0.8 to 2.0 (practical range for a stable firm). Note the market value of equity is used not the book value (A$831,032,468).
Levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
0.582 = 0.375 (1 + (1- 30%) (78.64%))
Levered Beta used in calculation = 0.8
This company is a bank or financial institution, which is analysed accordingly below.
Mr. Andrew Catsoulis serves as the Managing Director of National Storage Holdings Limited at National Storage REIT. Mr. Catsoulis serves as Company Secretary of Stowaway Self Storage Pty Ltd. He is a qualified finance, commercial and property lawyer who has worked for major law firm both in Australia and overseas. He is also a qualified project manager with considerable property development experience. He has over 18 years of specific self-storage industry expertise in areas of acquisition, development, integration and operation of 'greenfield' and developed self-storage centres. He was instrumen in the successful acquisition and integration of the original National Storage Group portfolio. He serves as Director at Stowaway Self Storage Pty Ltd, Storcat Pty Ltd., NS Saleco Pty Ltd and National Storage REIT. He has been a Director of National Storage Holdings Limited since November 1, 2013.
Average tenure of the National Storage REIT management team in years:
Average tenure of the National Storage REIT board of directors in years:
View our latest analysis for National Storage REIT Here's how I find good dividend stocks When researching a dividend stock, I always follow the following screening criteria: Is it the top 25% annual dividend yield payer? … ASX:NSR Historical Dividend Yield Dec 25th 17 Does National Storage REIT pass our checks? … Compared to its peers, National Storage REIT generates a yield of 5.86%, which is high for reits stocks.Simply Wall St - – Full article
Check out our latest analysis for National Storage REIT 5 checks you should use to assess a dividend stock If you are a dividend investor, you should always assess these five key metrics: Is its annual yield among the top 25% of dividend-paying companies? … ASX:NSR Historical Dividend Yield Dec 18th 17 Does National Storage REIT pass our checks? … Whilst there are few things you may like about National Storage REIT from a dividend stock perspective, the truth is that overall it probably is not the best choice for a dividend investor.Simply Wall St - – Full article
Real estate analysts are forecasting for the entire industry, negative growth in the upcoming year , and an overall negative growth rate in the next couple of years. … ASX:NSR PE PEG Gauge Oct 30th 17 REIT companies are typically trading at a PE of 7x, below the broader Australian stock market PE of 16x. … Use our free playform to see my list of over 100 other real estate companies trading on the market.Simply Wall St - – Full article
National Storage REIT engages in the ownership and operation of self-storage centers in Australia and New Zealand. The company owns and operates 116 self-storage centers; and manages 65,000 storage units through 622,000 square meters of net lettable area. It offers business storage, records management, climate controlled wine storage, vehicle storage, vehicle and trailer hiring, packaging, insurance, and other value added services. The company provides its solutions to approximately 40,000 residential and commercial customers. National Storage REIT is headquartered in Brisbane, Australia.
|Name:||National Storage REIT|
National Storage REIT
71 Eagle Street,
|Exchange Symbol||Ticker Symbol||Security||Exchange||Country||Currency||Listed on|
|ASX||NSR||Staple Securities||Australian Securities Exchange||AU||AUD||19. Dec 2013|
|Company Analysis updated:||2018/02/22|
|Last estimates confirmation:||2018/02/19|
|Last earnings update:||2017/06/30|
|Last annual earnings update:||2017/06/30|
All dates in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.