National Storage REIT (NSR) reported a half-year (1H FY24) IFRS profit after tax of $79.2 million, with earnings per share (EPS) of 5.8 cents.
Underlying Earnings Per Security (EPS) for 1H FY24 stood at 5.6 cents, totaling $76.0 million, marking a 6.0% increase.
Group revenue per available meter (REVPAM) increased by 0.6% to $269/m2.
Net tangible assets (NTA) per stapled security remained steady at $2.48.
NSR completed 13 acquisitions totaling $124 million and has 41 active development projects, aiming to expand its net lettable area (NLA) by approximately 343,000m2.
The company reaffirmed its FY24 underlying earnings guidance at a minimum of 11.3 cents per security.
NSR committed to reducing and fully offsetting all scope 1 and 2 emissions by 2030.
Entered a strategic acquisition and development alliance with MAAS Group, enhancing its portfolio with nine additional assets.
NSR is the largest self-storage provider in Australia and New Zealand, with over 235 centers serving more than 95,000 customers.
The company plans to distribute 90%-100% of its underlying earnings.
This announcement is a summary of the company approved ASX announcement on 21/2/2024 and is based on facts.