National Storage is the largest self-storage provider in Australia and New Zealand, with 194 centres providing tailored storage solutions to over 70,000 residential and commercial customers.
National Storage REIT Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||AU$2.40|
|52 Week High||AU$1.78|
|52 Week Low||AU$2.45|
|1 Month Change||1.27%|
|3 Month Change||13.74%|
|1 Year Change||28.69%|
|3 Year Change||42.43%|
|5 Year Change||57.38%|
|Change since IPO||146.15%|
Recent News & Updates
|NSR||AU REITs||AU Market|
Return vs Industry: NSR exceeded the Australian REITs industry which returned 20.9% over the past year.
Return vs Market: NSR exceeded the Australian Market which returned 20.2% over the past year.
Stable Share Price: NSR is less volatile than 75% of Australian stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: NSR's weekly volatility (3%) has been stable over the past year.
About the Company
National Storage is the largest self-storage provider in Australia and New Zealand, with 194 centres providing tailored storage solutions to over 70,000 residential and commercial customers. NSR is the first independent, internally managed and fully integrated owner and operator of self-storage centres to be listed on the Australian Securities Exchange (ASX).
National Storage REIT Fundamentals Summary
|NSR fundamental statistics|
Is NSR overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|NSR income statement (TTM)|
|Cost of Revenue||AU$25.96m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
|Earnings per share (EPS)||0.0031|
|Net Profit Margin||1.72%|
How did NSR perform over the long term?See historical performance and comparison
3.4%Current Dividend Yield
Is National Storage REIT undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: NSR (A$2.4) is trading below our estimate of fair value (A$3.84)
Significantly Below Fair Value: NSR is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: NSR is poor value based on its PE Ratio (766.8x) compared to the Australian REITs industry average (9.4x).
PE vs Market: NSR is poor value based on its PE Ratio (766.8x) compared to the Australian market (19.8x).
Price to Earnings Growth Ratio
PEG Ratio: NSR is poor value based on its PEG Ratio (40.5x)
Price to Book Ratio
PB vs Industry: NSR is overvalued based on its PB Ratio (16.3x) compared to the AU REITs industry average (1.1x).
How is National Storage REIT forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: NSR's forecast earnings growth (18.9% per year) is above the savings rate (1.9%).
Earnings vs Market: NSR's earnings (18.9% per year) are forecast to grow faster than the Australian market (11.8% per year).
High Growth Earnings: NSR's earnings are forecast to grow, but not significantly.
Revenue vs Market: NSR's revenue (11.1% per year) is forecast to grow faster than the Australian market (5.5% per year).
High Growth Revenue: NSR's revenue (11.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: NSR's Return on Equity is forecast to be low in 3 years time (5.1%).
How has National Storage REIT performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: NSR has a large one-off gain of A$230.6M impacting its June 30 2021 financial results.
Growing Profit Margin: NSR became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: NSR has become profitable over the past 5 years, growing earnings by -20.5% per year.
Accelerating Growth: NSR has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: NSR has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (106.4%).
Return on Equity
High ROE: NSR's Return on Equity (13.6%) is considered low.
How is National Storage REIT's financial position?
Financial Position Analysis
Short Term Liabilities: NSR's short term assets (A$117.2M) exceed its short term liabilities (A$100.1M).
Long Term Liabilities: NSR's short term assets (A$117.2M) do not cover its long term liabilities (A$867.1M).
Debt to Equity History and Analysis
Debt Level: NSR's debt to equity ratio (33.2%) is considered satisfactory.
Reducing Debt: NSR's debt to equity ratio has reduced from 72.8% to 33.2% over the past 5 years.
Debt Coverage: NSR's debt is not well covered by operating cash flow (17.8%).
Interest Coverage: NSR's interest payments on its debt are well covered by EBIT (4.4x coverage).
What is National Storage REIT current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: NSR's dividend (3.42%) is higher than the bottom 25% of dividend payers in the Australian market (2.27%).
High Dividend: NSR's dividend (3.42%) is low compared to the top 25% of dividend payers in the Australian market (5.32%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, NSR has been paying a dividend for less than 10 years.
Growing Dividend: NSR's dividend payments have increased, but the company has only paid a dividend for 7 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (46.7%), NSR's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: NSR's dividends in 3 years are forecast to be covered by earnings (97% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Mr. Andrew Catsoulis, BA, LLB, Grad Dip Project Mgmt (Hons) serves as Managing Director and Director of National Storage REIT. He serves as Managing Director and Director of National Storage Holdings Limit...
CEO Compensation Analysis
Compensation vs Market: Andrew's total compensation ($USD2.27M) is above average for companies of similar size in the Australian market ($USD1.41M).
Compensation vs Earnings: Andrew's compensation has been consistent with company performance over the past year.
Experienced Board: NSR's board of directors are considered experienced (7.4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 16.8%.
National Storage REIT's employee growth, exchange listings and data sources
- Name: National Storage REIT
- Ticker: NSR
- Exchange: ASX
- Founded: 2013
- Industry: Specialized REITs
- Sector: Real Estate
- Market Cap: AU$2.852b
- Shares outstanding: 1.19b
- Website: https://www.nationalstorage.com.au
Number of Employees
- National Storage REIT
- Waterfront Place
- Level 16
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/10/17 07:05|
|End of Day Share Price||2021/10/15 00:00|
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.