National Storage REIT (NSR) Fair Value & Analysis
Real Estate · AU · Market cap A$4.3B
Fair value as of: Jun 26, 2026
From 24 valuation models · updated 4 days ago
Fair value updated Jun 26, 2026 — revised from A$0.6300 to A$0.3900 (−38.1%) since Jun 24, 2026.
Price vs Fair Value (12 months)
12‑month range A$2.18 – A$2.79 · fair‑value band A$0.2300 – A$0.8800 · the A$2.79 price screens above the A$0.3900 fair value. As of Jun 26, 2026.
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National Storage REIT (NSR) currently trades at A$2.79, while our model-based Fair Value estimate is A$0.3900 — implying the stock looks roughly 86.0% overvalued today. We read business quality at 80/100 (high quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: medium).
Over the trailing twelve months, National Storage REIT generated revenue of A$418M at a net margin of 8.4%. Revenue grew 14.6% year over year. It earns a return on equity of 6.1%. Net debt stands at A$1.9B. Fundamentals as of Jun 26, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.
About the company
National Storage REIT is the largest self-storage provider in Australia and New Zealand. With over 290 centres providing tailored storage solutions to over 100,000 residential and commercial customers. NSR is the first independent, internally managed and fully integrated owner and operator of self-storage centres to be listed on the Australian Securities Exchange (ASX). National Storage REIT was incorporated in 2000 in Australia.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
National Storage REIT reported revenue of A$358M in FY2025 versus A$218M in FY2021, a compound +13.2%/yr. Reported net income was A$27.5M in FY2025, compounding −45.4%/yr from FY2021.
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Similar stocks
6 more REIT - Industrial stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Prologis, Inc PLD | $144.54 | $58.09 | -60% |
| Public Storage, a member of the S&P 500, PSA | $325.94 | $215.22 | -34% |
| Extra Space Storage Inc EXR | $145.33 | $56.21 | -61% |
| SEGRO Plc SEGXF | $11.50 | $4.60 | -60% |
| EastGroup Properties, Inc EGP | $204.89 | $126.92 | -38% |
| Lineage, Inc LINE | $41.38 | $35.41 | -14% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.