Corporate Action: National Storage’s FVE Increases on Acquisitions; Recommend Participating in SPP
No-moat National Storage REIT’s fair value estimate increases to AUD 1.77 per security from AUD 1.72 after its acquisitions and capital raising. An unprecedented AUD 371 million of self-storage centres and development properties were acquired in Australia and New Zealand in fiscal 2019. The REIT also expects to complete a further circa AUD 100 million of acquisitions in Australia by the end of the first quarter of fiscal 2020. To help fund the historically high level of purchases and reduce fina...NNational Storage is an owner and operator of self-storage centres. Co. is engaged in the operation and management of storage centres in Australia and New Zealand. Co.'s portfolio of owned and managed centres comprised of 105 centres, managing 59,200 storage units around Australia and New Zealand as of June 30 2016. Of the 105 self-storage properties in Co.'s portfolio, ownership is as follows: 60 self-storage centres owned by National Storage Property Trust; 16 self-storage centres operated as long-term leasehold centres (Leasehold Centres); 26 self-storage centres managed for the Southern Cross Storage Group (Southern Cross); and three third party managed centres.
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