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NSR - National Storage REIT

Discussion in 'Stocks I-P' started by System, Dec 18, 2013.

  1. System

    System Administrator

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    National Storage is one of the largest self-storage providers in Australia, with 62 centres across six states tailoring self-storage products to over 23,000 residential and commercial customers.

    http://www.nationalstorageinvest.com.au
     
  2. Cashflows

    Cashflows

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    This company has me scratching my head, in their annual reports it states that it will record $48,993,000 in profit before tax, but then it states that they will only pay $260,000 in taxes for the year.... ?!?!?!

    The only reasoning they provide is in note 8 where it says, 'NPST is not liable to pay income tax provided its taxable income and taxable realised gains are fully distributed to unit holders.'...

    All I can say is, who does their tax returns and when can I meet them?
     
  3. coolcup

    coolcup

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    This is pretty standard for listed property trusts. Their legal entity has a trust within the structure (rather than just a company). The group is structured so that all the profit sits in the trust and the trust distributes the majority of that profit. This means the trust does not need to pay tax, and the tax liability is born by the unitholders who receive the distributions.

    The ATO is no worse off. In a company situation, a dividend is paid from after tax profits along with a franking credit, so the ATO ends up getting tax at the marginal rate of the underlying shareholder. This is the same net outcome in the case of a trust.

    Hope this helps.
     
  4. Cashflows

    Cashflows

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    Thanks Coolcup, that makes a lot more sense.
     
  5. Miner

    Miner

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    Hello folks
    Anyone following NSR? It was once recommended by Motley but not doing well and had a capital raise as well.
    This thread was not updated for 5 years - does tell me :) how bad the stock could be ??
    Thanks
     
  6. Ann

    Ann

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    Rightio this is number two stock of how I enter a trade. Higher highs higher lows, bounce off a support/resistance line and then I enter the trade at red star. I am not entering any trades at this time until I am more confident the market will allow this stock to rise. Very low volumes, showing serious caution in the market at the moment. I normally never draw projections on a chart, this time it is only to illustrate where this might travel and where I would potentially enter, but not at the angle I drew, the chart was a bit squashy. I should add, I do much more work on a trade than simply look at a chart if I am going to enter a trade. This is my starting point.

    NSR 24.1.19.png
     
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  7. BlindSquirrel

    BlindSquirrel

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    They've announced another SPP.
    The price is at around a 3% discount to the current SP. If I take it up it will overweight my portfolio to them but I don't want to be diluted either.
    upload_2019-7-3_9-21-19.png
    With current interest rates, shouldn't they be looking more at debt rather than paying it down?
     
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  8. galumay

    galumay learner

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    I looked at this after I read an article about what good businesses Storage Companies were in the US, I discovered no investible businesses in Australia though, the 2 big listed ones both turned out to fail to meet my criteria. Its a much tougher business in Australia.
     
  9. BlindSquirrel

    BlindSquirrel

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    Is anyone else currently in this? Here's hoping that the takeover rumblings come to fruition!
    I bought at 1.73 for the unfranked distributions in case they became more sought after if Labor won, then I just held them as it's a stable business.
     
  10. qldfrog

    qldfrog

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    Popped up in one of my system let's cross fingers
     
  11. Dona Ferentes

    Dona Ferentes

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    Timing?! A premium of 47% to NTA
     
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  12. Dona Ferentes

    Dona Ferentes

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    Now up to $2.41
     
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  13. qldfrog

    qldfrog

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    Higher higher:)
     
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