National Storage REIT (AU:NSR) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
National Storage REIT (NSR) has teamed up with GIC to establish the National Storage Ventures Fund, aiming to expand and manage self-storage centers in Australia. The partnership will see an investment of $270 million to develop an initial set of 10 storage facilities, with NSR managing the fund and selling the assets to it for $120 million to reduce debt. NSR also reaffirms its commitment to distribute 90-100% of its underlying earnings and maintain a minimum earnings per security of 11.3 cents.
For further insights into AU:NSR stock, check out TipRanks’ Stock Analysis page.