National Storage REIT ( (AU:NSR) ) just unveiled an update.
National Storage REIT reported a strong financial performance for the first half of FY25, with a profit after tax of $87.9 million and underlying earnings per security of 5.7 cents. The company maintained an operating margin of 66% and increased its net tangible assets to $2.53 per stapled security. NSR completed 20 acquisitions totaling $185 million and added significant new lettable area through seven completed projects. The company also launched a joint venture with GIC to develop self-storage centers in Australia, enhancing its growth strategy. NSR continues to focus on sustainability, with significant progress in reducing emissions and increasing solar energy generation. The company reaffirms its earnings guidance for FY25, projecting a minimum of 11.8 cents per security.
More about National Storage REIT
National Storage REIT is the largest self-storage provider in Australia and New Zealand, operating over 260 centers that offer tailored storage solutions to more than 97,000 residential and commercial customers. It is the first independent, internally managed, and fully integrated owner and operator of self-storage centers listed on the Australian Securities Exchange (ASX).
YTD Price Performance: -4.70%
Average Trading Volume: 3,733,114
Technical Sentiment Consensus Rating: Hold
Current Market Cap: A$3.08B
See more insights into NSR stock on TipRanks’ Stock Analysis page.
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