NSR is Australia’s largest self-storage business, which we believe is cheap today after the surge in interest rates and spin-out by Abacus of its Storage King assets at a discounted valuation to NSR. This stock fits into our current defensive stance, helped by a forecasted 4.7% yield over the coming 12-months. Plus, we like the medium-term outlook for storage facilities as the country moves to higher-density living.
- We remain bullish on NSR, liking the macro picture over the coming years; MM holds NSR in our Active Growth Portfolio.
MM is long and bullish towards NSR medium-term
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