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National Storage REIT
(Sydney:NSR)
National Storage REIT (NSR) vs. iShares MSCI Australia ETF (EWA)
National Storage REIT Business Overview & Revenue Model
National Storage REIT Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 358.00M | 358.00M | 354.69M | 331.43M | 278.06M | 217.75M |
| Gross Profit | 303.40M | 303.40M | 349.23M | 324.73M | 269.87M | 211.63M |
| EBITDA | 214.20M | 314.80M | 292.07M | 196.08M | 152.62M | 111.68M |
| Net Income | 157.70M | 27.50M | 230.27M | 320.40M | 620.62M | 309.71M |
Balance Sheet | ||||||
| Total Assets | 5.80B | 5.80B | 5.17B | 4.58B | 4.05B | 3.25B |
| Cash, Cash Equivalents and Short-Term Investments | 223.00M | 223.00M | 55.24M | 67.33M | 83.65M | 95.91M |
| Total Debt | 1.97B | 1.97B | 1.49B | 1.04B | 1.08B | 868.75M |
| Total Liabilities | 2.16B | 2.16B | 1.66B | 1.20B | 1.22B | 967.23M |
| Stockholders Equity | 336.90M | 336.90M | 305.28M | 3.39B | 2.84B | 2.28B |
Cash Flow | ||||||
| Free Cash Flow | 147.90M | 214.30M | 112.10M | 135.56M | 134.11M | 112.13M |
| Operating Cash Flow | 175.80M | 218.60M | 124.90M | 143.33M | 141.24M | 113.69M |
| Investing Cash Flow | -491.80M | -485.20M | -466.62M | -345.55M | -281.25M | -429.74M |
| Financing Cash Flow | 372.60M | 276.90M | 332.93M | 185.84M | 127.87M | 321.56M |
National Storage REIT Technical Analysis
National Storage REIT Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | AU$2.92B | 11.65 | 8.25% | 6.09% | 2.70% | 205.08% | |
70 Outperform | AU$866.15M | 10.29 | 7.99% | 6.09% | -8.67% | ― | |
70 Outperform | AU$2.09B | 15.98 | 5.38% | 4.85% | 4.39% | 176.52% | |
68 Neutral | AU$2.93B | 10.85 | 9.58% | 4.87% | 16.53% | 36.39% | |
67 Neutral | AU$2.04B | 7.05 | 13.00% | 4.13% | 11.51% | 109.13% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | AU$3.92B | 16.35 | 6.61% | 3.99% | 10.59% | 0.77% |
National Storage REIT Corporate Events
National Storage REIT has announced that the exit statements for the first quarter of the fiscal year 2026, covering the period from July 1 to September 30, 2025, are now available for investors to download via the Computershare Investor Centre website. This update is part of the company’s ongoing efforts to maintain transparency and provide timely information to its stakeholders, reinforcing its commitment to investor relations.
National Storage REIT has received an unsolicited, non-binding proposal from a consortium led by Brookfield Property Group and GIC Investments to acquire 100% of its stapled securities. The proposal, which includes a cash offer of $2.86 per security, is subject to several conditions, including regulatory approvals and due diligence. The NSR Board has granted the consortium a period of exclusivity to negotiate a binding agreement, although there is no certainty that the transaction will proceed.
National Storage REIT has requested a trading halt on its securities pending an announcement regarding a potential control transaction involving all of its stapled securities. This move indicates a significant corporate development that could impact the company’s market position and stakeholder interests, with trading expected to resume by November 28, 2025, or upon the announcement’s release.
National Storage REIT has announced the issuance of 368,500 performance rights as part of an employee incentive scheme. These securities are unquoted and are not intended to be listed on the ASX, reflecting the company’s strategy to incentivize and retain key personnel, potentially impacting its operational efficiency and stakeholder engagement.
National Storage REIT has announced the issuance of 54,591 fully paid ordinary units stapled securities as part of its executive incentive plan for the year ending June 30, 2025. This move, approved by the Board, is aimed at enhancing the company’s operational capabilities and aligning executive interests with shareholder value, potentially impacting its market positioning positively.
National Storage REIT announced the issuance of 83,186 fully paid ordinary units as part of its Key Management Personnel incentive program, as approved by the Board. This move is expected to enhance the company’s operational capabilities and strengthen its market position by aligning management incentives with shareholder interests.
National Storage REIT has announced the application for quotation of 194,479 fully paid ordinary units stapled securities on the ASX, following approvals at its Annual General Meetings. This move is part of the company’s strategic efforts to enhance its market presence and operational capacity, potentially impacting its stakeholders by increasing the liquidity and marketability of its securities.
National Storage REIT has announced a change in the indirect interests of its director, Andrew Catsoulis, as of October 28, 2025. The changes involve various trusts and companies where Mr. Catsoulis holds positions as a director and shareholder, impacting the company’s governance and potentially its strategic direction.
National Storage REIT has announced that FMR LLC and its entities have ceased to be substantial holders in the company as of October 20, 2025. This change in substantial holding may impact the company’s stock market dynamics and investor perceptions, as FMR LLC has been actively buying and selling shares in recent weeks, indicating a shift in investment strategy or portfolio adjustments.
National Storage REIT held its Annual General Meeting on October 22, 2025, where all resolutions were decided by poll. A significant outcome was the ‘first strike’ against the Remuneration Report, as over 25% of votes were cast against it, indicating potential shareholder dissatisfaction. This development could impact the company’s governance and future shareholder relations.
National Storage REIT has announced the withdrawal of a resolution from its upcoming Annual General Meeting agenda, which involved the issuance of GRIP Performance Rights to Managing Director Andrew Catsoulis. This decision follows stakeholder feedback and reflects the company’s commitment to aligning executive remuneration with long-term value creation and retention of key executives. The withdrawal will not affect other meeting items or proxy votes already submitted.
National Storage REIT has released its Sustainability Report for the fiscal year 2025, detailing its approach and performance on key Environmental, Social, and Governance (ESG) topics. The report, prepared in accordance with global standards, highlights the company’s commitment to sustainability and its impact on stakeholders, with carbon emissions data verified by the Carbon Reduction Institute.
Resolution Capital Limited has ceased to be a substantial holder in National Storage REIT as of September 19, 2025. This change in substantial holding could impact National Storage REIT’s shareholder structure and influence its market positioning, as substantial holders often play a significant role in corporate governance and strategic decisions.
National Storage REIT has announced the scheduling of its 2025 Annual General Meeting for shareholders and unitholders, set to take place on October 22, 2025. The meeting will be held in a hybrid format, allowing participants to attend either in person or virtually. This approach aims to enhance accessibility and engagement, providing stakeholders with the opportunity to participate actively through an online platform where they can watch, listen, submit questions, and vote.