A director at National Storage Reit maiden bought 30,000 shares at 2.080AUD and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two...
NATIONAL STORAGE REIT (AU), a company active in the Real Estate Investment Trusts industry, now shows a lower overall rating. The independent financial analyst theScreener confirms the fundamental rating of 3 out of 4 stars. However, the market behaviour deterioration triggered a risk requalification, which can be thus described as moderately risky. theScreener believes that increased risk justifies the general evaluation downgrade to Neutral. As of the analysis date December 10, 2021, the closi...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
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 fi...
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 fi...
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 fi...
No-moat National Storage REIT’s fair value estimate is unchanged at AUD 1.72 per security after broadly in line first-half fiscal 2019 results. The key takeaway from the results was a higher-than-expected AUD 135 million worth of acquisitions offset by lower like-for-like revenue per square metre, or REVPAM. This leads to a modest adjustment lower to our forecast fiscal 2019 underlying net profit after tax, or NPAT, to AUD 62.6 million from AUD 63.8 million, within management’s reaffirmed gu...
No-moat National Storage REIT’s fair value estimate is unchanged at AUD 1.72 per security after broadly in line first-half fiscal 2019 results. The key takeaway from the results was a higher-than-expected AUD 135 million worth of acquisitions offset by lower like-for-like revenue per square metre, or REVPAM. This leads to a modest adjustment lower to our forecast fiscal 2019 underlying net profit after tax, or NPAT, to AUD 62.6 million from AUD 63.8 million, within management’s reaffirmed gu...
No-moat National Storage REIT’s fair value estimate is unchanged at AUD 1.72 per security after broadly in line first-half fiscal 2019 results. The key takeaway from the results was a higher-than-expected AUD 135 million worth of acquisitions offset by lower like-for-like revenue per square metre, or REVPAM. This leads to a modest adjustment lower to our forecast fiscal 2019 underlying net profit after tax, or NPAT, to AUD 62.6 million from AUD 63.8 million, within management’s reaffirmed gu...
No-moat National Storage REIT’s fair value estimate is unchanged at AUD 1.72 per security after broadly in line first-half fiscal 2019 results. The key takeaway from the results was a higher-than-expected AUD 135 million worth of acquisitions offset by lower like-for-like revenue per square metre, or REVPAM. This leads to a modest adjustment lower to our forecast fiscal 2019 underlying net profit after tax, or NPAT, to AUD 62.6 million from AUD 63.8 million, within management’s reaffirmed gu...
Downgrades and market weakness. Most sectors fell during the month, but IT and Financials helped limit the rout. Lack of upgrades rather than excessive downgrades was the main problem. Follow Earnings During a Correction. NSR and SFR have seen relatively large increases in short-positioning, while heavily shorted stocks SYR and GXY saw relatively large falls. Labour market, consumer confidence and business confidence indicators all suggest the economy remains solid, despite evidence the ...
Australia and New Zealand’s highly fragmented self-storage industry, dominated by individual owner-operators, provides significant scope for National Storage to continue generating earnings from its acquisition strategy. It is the largest owner-operator of self-storage centres in Australia and New Zealand. This gives it another lever to increase earnings by developing centres in its existing portfolio. Its short lease terms, averaging less than two years over its portfolio, also provide it wit...
A change in analyst prompts a modest increase in no-moat National Storage's fair value estimate to AUD 1.72 per share from AUD 1.63. We also increase our forecast underlying net profit after tax, or NPAT, in fiscal 2019 to AUD 63.8 million from AUD 62.8 million, and underlying earnings per share to AUD 9.9 cents from AUD 9.6 cents, but maintain our dividend forecast at AUD 9.6 cents per security. The major driver of the change is stronger expected underlying NPAT and EPS growth over the medium t...
New strategic initiatives and a major capital raising dominated no-moat National Storage’s fiscal 2018 results. Our fair value estimate increases to AUD 1.63 per share from AUD 1.50, with the increase driven by expected acquisitions and development opportunities in fiscal 2019 and the AUD 155.3 million of acquisitions made in 2018. The company’s underlying net profit after tax, or NPAT, in fiscal 2018 of AUD 51.4 million was 12.5% higher than fiscal 2017, but slightly missed its own guidanc...
Giving Back Reporting Season Gains. Hitting Valuation Ceilings. Financials Under Pressure. The sell-off caused declines in short-positioning. Underperformance provides a little more valuation support. Domestic Economy Tracking In-Line with Our Expectations.
New strategic initiatives and a major capital raising dominated no-moat National Storage’s fiscal 2018 results. Our fair value estimate increases to AUD 1.63 per share from AUD 1.50, with the increase driven by expected acquisitions and development opportunities in fiscal 2019 and the AUD 155.3 million of acquisitions made in 2018. The company’s underlying net profit after tax, or NPAT, in fiscal 2018 of AUD 51.4 million was 12.5% higher than fiscal 2017, but slightly missed its own guidanc...
New strategic initiatives and a major capital raising dominated no-moat National Storage’s fiscal 2018 results. Our fair value estimate increases to AUD 1.63 per share from AUD 1.50, with the increase driven by expected acquisitions and development opportunities in fiscal 2019 and the AUD 155.3 million of acquisitions made in 2018. The company’s underlying net profit after tax, or NPAT, in fiscal 2018 of AUD 51.4 million was 12.5% higher than fiscal 2017, but slightly missed its own guidanc...
National Storage REIT is the only listed pure-play self-storage operator in Australia and New Zealand. It is internally managed, owns over 100 facilities, and operates about another 15 centres, mostly on a leasehold basis. About 70% of revenue comes from residential customers, with the balance from business users. Key revenue drivers are rental rates and occupancy. There are more than 1,000 self-storage facilities in Australia, with the market highly fragmented. The three largest operators--Nati...
New strategic initiatives and a major capital raising dominated no-moat National Storage’s fiscal 2018 results. Our fair value estimate increases to AUD 1.63 per share from AUD 1.50, with the increase driven by expected acquisitions and development opportunities in fiscal 2019 and the AUD 155.3 million of acquisitions made in 2018. The company’s underlying net profit after tax, or NPAT, in fiscal 2018 of AUD 51.4 million was 12.5% higher than fiscal 2017, but slightly missed its own guidanc...
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