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NSA

National Storage

$31.26

0.19 (0.61%)

16:33
07/10/18
07/10
16:33
07/10/18
16:33

National Storage to use proceeds of offering to fund capital contribution to JV

National Storage Affiliates Trust launches public offering of common shares to fund capital contribution to Joint Venture slated to acquire a $1.325B portfolio from Simply Self Storage. The company intends to initially use a portion of the proceeds from the offering to repay all of the borrowings outstanding under its revolving line of credit. The company expects to use the additional proceeds from the offering, together with amounts it expects to redraw from the Revolver, to make approximately $160.8M in capital contributions to, in exchange for a 25% ownership interest in, a joint venture with an affiliate of Heitman Capital Managementthat has been recently formed to acquire from Simply Self Storage, a portfolio company of a private real estate fund managed by Brookfield Asset Management, two REITs that own a portfolio of self storage properties for an aggregate purchase price of approximately $1.325B.The Portfolio consists of 112 self storage properties containing approximately 8.7 million rentable square feet, configured in over 68,000storage units and located across 17 states and Puerto Rico. Following the closing of the Acquisiton, the Company expects to rebrand nearly all of thePortfolio under its iStorage brand, and the Company's iStorage management platform will operate the properties.The Company also expects to use such net proceeds to fund $64.0 million in additional capital contributions to the JV to spin-out the six self storageproperties in the Portfolio located in Puerto Rico and a single self storageproperty in the Portfolio located in Ohio, which will be distributed by the JV to the Company immediately following the closing of the Acquisition.

NSA National Storage
$31.26

0.19 (0.61%)

12/19/17
WELS
12/19/17
UPGRADE
Target $30
WELS
Outperform
National Storage upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Todd Stender upgraded National Storage Affiliates Trust to Outperform and raised his price target for the shares to $30 from $26. The analyst sees potential for the company to generate the highest rate of same-store net operating income growth of the entire self-storage REIT group in 2018.
02/13/18
SBSH
02/13/18
INITIATION
Target $24
SBSH
Neutral
National Storage initiated with a Neutral at Citi
Citi analyst Michael Bilerman started National Storage Affiliates with a Neutral rating and $24 price target.
02/13/18
02/13/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Nine Energy Services (NINE) was initiated with an Outperform at Wells Fargo and Credit Suisse, a Buy at BofA/Merrill and Goldman Sachs, as well as an Overweight at JPMorgan. 2. ADT Inc. (ADT) was initiated with an Overweight at Morgan Stanley, an Outperform at RBC Capital and Imperial Capital, a Buy at BofA/Merrill, Deutsche Bank, Citi, and Goldman Sachs, and a Neutral at Credit Suisse. 3. Americold Realty Trust (COLD) was initiated with an Outperform at RBC Capital, a Buy at SunTrust and BofA/Merrill, as well as a Neutral at JPMorgan. 4. Novus Therapeutics (NVUS) initiated with a Buy at Ascendiant. 5. National Storage (NSA) initiated with a Neutral at Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/06/18
BMOC
04/06/18
INITIATION
Target $26
BMOC
Market Perform
National Storage initiated with a Market Perform at BMO Capital
BMO Capital analyst Jeremy Metz initiated National Storage with a Market Perform and $26 price target. .

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GE

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Gentex

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SKX

Skechers

$33.23

0.6 (1.84%)

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ISRG

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TSLA

Tesla

$321.44

-2.57 (-0.79%)

, PCRFY

Panasonic

$0.00

(0.00%)

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Periodicals
Panasonic suspends supplier of cobalt used in Tesla batteries, Reuters reports »

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Tesla

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PCRFY

Panasonic

$0.00

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MSFT

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, ISRG

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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NYSE market internals summary »

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SPX

S&P 500

$0.00

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, SPY

SPDR S&P 500 ETF Trust

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S&P 500

$0.00

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MSFT

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$104.73

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MSFT

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$104.70

-0.38 (-0.36%)

, AMZN

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MSFT

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HMNY

Helios and Matheson

$0.11

-0.0066 (-5.90%)

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TSLA

Tesla

$322.04

-1.97 (-0.61%)

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GE

General Electric

$13.64

-0.11 (-0.80%)

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13:54
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GE

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$13.64

-0.11 (-0.80%)

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1.16 (1.12%)

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