We don’t yet own National Storage (NSR) but it’s been in our Hitlist for a few months, as the share price languishes below $2.20, we have this stock firmly on our radar. The sharp pullback by NSR in our opinion has been influenced by the valuation ascribed to the new listing of Abacus Storage King (ASK) at a ~10% discount to its NTA. At the time, NSR was trading above its NTA providing a negative price catalyst. We believe the 5% projected yield for NSR will grow over the coming years at 5-10%, and the pullback in the share price now represents an excellent opportunity.
- We remain keen to accumulate NSR but with ASK continuing to struggle after its listing NSR has become more attractive by the week.
MM is debating when to start buying NSR
Add To Hit List
