National Storage (NSR)
National Storage is Australia’s only pure self storage REIT on the ASX. It has a portfolio valuation last reported of $278 million.
NSR listed on December 18th, 2013 at $0.98, last $1.29 (high $1.35).
The first 6 months results yet to be announced. Distribution guidance was provided on June 24th stating each security would receive $3.8c which is 7.7% of the $0.98c list price (compared with 8% forecast in the 2013 prospectus for 2014 calendar year).
The company Statement accompanying this guidance said “Retail trading conditions have been subdued”. NSR have been aggressive in growth acquiring 9 additional properties since listing.
Abacus Property Group (ABP)
Abacus is a diversified real estate group with $395 million is self storage assets. This represents 30% of their asset sector mix, by value.
ABP last traded at $2.59 (52 week high $2.59).
Abacus have acquired 2 additional self storage properties this financial year.
The Abacus 2014 half year report states the 49 property portfolio has occupancy of 84.1% compared to 83.5% 6 months earlier.
Average rental per square metre improved 5.9% to $251 per annum (49 properties in 2013, 47 properties in 2013).
Note: Comparative data of occupancy and rent does not adjust for acquisitions or disposals.
Author: Sam Kennard, Managaing Director, Kennards Self Storage