Tiger Brokers

BUZZ-Citi positive on Australia's National Storage REIT's RevPAM growth

Reuters
Apr 09
BUZZ-Citi positive on Australia's National Storage REIT's RevPAM growth

** Citi says National Storage REIT NSR.AX has increased its development by 5 times since 2020, taking advantage of opportunities in the market with limited competition and targeting attractive double-digit returns

** The self storage provider's revenue per available metre (RevPAM) growth continues to strengthen with further medium-term upside potential, as new developments stabilize and drive higher growth - Citi

** In February, company posted HY group RevPAM of A$276.1/m2, up 3.5% from the previous year

** Seven of nine analysts rate the stock "buy" or higher, one "hold", and one "sell"; their median PT is A$2.47, according to data compiled by LSEG

** Stock down 7.3% this year, as of last close

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com;))

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