BUZZ-Citi upbeat on National Storage REIT as property valuations improve

Reuters
01-21
BUZZ-Citi upbeat on National Storage REIT as property valuations improve

** Citi sees National Storage REIT NSR.AX to produce stable underlying earnings growth for their half-yearly results

** Brokerage retains "buy" rating and price target A$2.7

** Self-storage provider expected to report 1H25 results in February

** Citi expects earnings to improve on continued storage fee rental growth and stable like-for-like occupancy growth

** Also flags co's finance costs will start to reduce as interest rates decline and lower cost sources of funding are utilised

** 4 of 9 analysts rate the stock "buy" or higher, 4 "hold" and 1 "sell"; their median PT is A$2.55 – LSEG data

** National Storage down 1.3% so far this year as of last close, lagging behind a 5.3% gain on the ASX Real Estate index .AXRE

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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