National Storage to Materially Grow Income in Fiscal 2017, but Growth Likely to Slow Thereafter
No-moat-rated National Storage REIT reported underlying profit of AUD 8.7 cents per security, at the bottom end of its guidance range and in line with our estimate. Underlying earnings grew 6.1% year on year, with much of the accretion coming from continuation of its acquisitive growth strategy. National Storage spent AUD 145.3 million to acquire 23 centres across Australia and New Zealand in fiscal 2016, in a continuation of its strategy to consolidate the fragmented Australian storage market....
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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