Re: Broker forecasts BERENBERG RAISES SAFESTORE PRICE TARGET TO 550 (465) PENCE - 'BUY'[link]
Liberum: Safestore new purchase to boost returns Safestore (SAFE) has acquired Stork Self Storage, which Liberum believes will further enhance returns and further self-help potential.Analyst David Brockton retained his buy recommendation and increased the target price from 480p to 500p on the stock, which was trading up 4.5%, or 18p, at 419p at the time of writing.He said the acquisition of Stork Self Storage which trades as Alligator was 6% accretive to his earnings per share forecasts and has potential to further enhance returns as rates and occupancy are improved.The purchase provides more self-help potential to a management team with a proven track record of delivering operational improvements, he said.The UK regional portfolio is well located. There is potential to lift both rates and occupancy levels from 68% to a stabilised 80%. An already attractive 7.7% yield could rise to 10%. Safestore continues to deliver positive like-for-like growth, underpinned by its regional diversity, and further enhanced by self-help potential from new and acquired stores.[link]
Re: Broker forecasts 26 Sep 17 Liberum Capital Buy 0.00 480.00 500.00 Reiterates
Broker forecasts 14 Sep 17 Peel Hunt Hold 0.00 400.00 400.00 Retains14 Sep 17 Numis Add 0.00 508.00 508.00 Reiterates14 Sep 17 Liberum Capital Buy 0.00 480.00 480.00 Reiterates01 Aug 17 Liberum Capital Buy 0.00 480.00 480.00 Reiterates[link]
Safestore set for resilient growth, says Liberum Safestore set for resilient growth, says LiberumThe regional diversity and scale of Safestore (SAFE) should see the storage company weather a weakening in the UK economy, according to Liberum.Analyst David Brockton retained his buy recommendation and target price of 480p on the stock, which was trading flat at 409.4p yesterday.He said that while the company was not immune from weakening domestic economic activity it would benefit from the breadth of its uses, its regional diversity and the scale of self-help potential in its new and acquired stores and would continue to support resilient growth.Q3 like-for-like revenue growth +3.2% was robust, as a softer economic backdrop in London was offset by strength in the UK regions and improvement in Paris, he said.Progression continued to be made in both rate and occupancy, with full-year guidance unchanged.[link]
Sector pick Safestore delivers outperformance Sector pick Safestore delivers outperformanceStorage business Safestore (SAFE) has delivered regional outperformance despite Brexit, making it a key sector pick.Liberum analysts retained their buy recommendation and target price of 450p on the shares, which rose 4.2% to 387.9p yesterday, as third quarter results showed like-for-like revenues grow 6.6% year-on-year. Another 170 square feet of occupancy was added in the quarter, the strongest performance on record.This performance was despite Brexit occurring within the period, management comment that trading remains strong and resilient while the Paris business has benefitted from foreign exchange tailwinds which are likely to result in a 0.3p boost to earning per share, said the analysts.New development remain on track, the Wandsworth store opened in the period and the Spacemaker acquisition completed in July, all sources of future growth. Safestore is a key sector pick, reflecting the combination of its cyclical and structural demand, allied with above average barriers to entry and the latent potential within its existing portfolio.[link]
well ahead of expectations Safestore well ahead of expectationsStorage business Safestore (SAFE) is expecting full year results to come in higher than expected.Liberum analyst David Brockton reiterated his buy recommendation and target price of 430p on the shares, which rose 4% to 356.1p yesterday.H1 figures sustain Q1 momentum and are well ahead of our expectations due to stronger profit conversion, he said.Like-for-like revenue +10% is aided by +2% occupancy gain to 70.9% and stronger than anticipated growth rate +4.7%. High profit drop through and a declining cost of debt enhance growth and free cash generation. The full year is now expected to be modestly above the top end of the range, implying -6% upside to our forecasts.Safestore remains a key pick reflecting the combination of its cyclical and structural demand, allied with above average barriers to entry and latent potential within its existing portfolio.[link]
Great news on the aquisition Sounds like a great buy.
Sheikh shakes off Safestore [link]
Re: Any views anyone Reduced weighting and sold half at 3.50 for the above gain.GLTA
Any views anyone Hi All,Steady eddie here on the share price with these broker forecasts:-8 Nov 15 Numis Buy 349.40 - 396.00 Retains12 Nov 15 Peel Hunt Buy 349.40 330.00 330.00 Reiterates12 Nov 15 Investec Buy 349.40 343.00 360.00 Reiterates[link] am currently up 73% on these does anyone have a view on them and after there latest ahead of expectation updates.GLTA
Pretty cool SAFE / BYG infographic report Good Safestore Holdings / Big Yellow Group plc comparison. Has analysts estimates of EPS which is interesting. [link]
Safestores enhancement programme paying off Safestores enhancement programme paying offSelf-storage group Safestore (SAFE) has reported a 27% year-on-year rise in earnings growth as managements plan to enhance the business pays off.Investec analyst Alison Watson retained her buy recommendation and target price of 305p on the shares, which were broadly flat at 277p yesterday.Another strong set of numbers as managements key initiatives over the last 18 months to enhance operational performance feed through to sustained and improving trading, she said.Coupled with a supportive economic backdrop, management shows its confidence in the outlook by announcing it will proceed with its Wandsworth store redevelopment. Our forecasts imply three year earnings per share and dividend per share of c.10% driven by further occupancy and rate growth.[link]
Seems safeish With a great deal of spare capacity and low PE still room to grow here.Housing on the up, more people moving people generally still loving to accumulate too much stuff don't think you can go too far wrong here if you are patient.
Playing safe With the General Election looming and probable share volatility, this is one of the shares I am selling for cash. At the dizzy heights of 300p it has got well ahead of NAV and whilst the story is intact, I think it can always be revisited once the likely rollercoaster has settled down (July?)ATB to those still holding.PB