IOMINVESTCOM
08 Apr 2015
Re: 1st Quarter results 01 Apr 15 Numis Buy 295.38 - 333.00 Retains
IOMINVESTCOM
25 Feb 2015
1st Quarter results Steady as she goes.13 Feb 15 Investec Buy 0.00 287.00 305.00 Reiterates
paddington_bear
22 Jan 2015
Re: Safestore - keys to success Latest figures confirm steady progress, supporting SP today at 261p. The debt rearrangement and sale of a property helped cashflow significantly. whilst total debt dropped to £300m from £382m, dropping LTV to a more comfortable 37% Rather generous rise of 29% in dividend. Overall occupancy up from 65.3 to 68.8% at marginally better pricing.Management thinks some low hanging fruit can be gathered with £15 million investment in new sites, but priority rightly remains making existing assets sweat to produce occupancy over 70%, preferably over 75%.Expect solid performanc to continue here.PB.
IOMINVESTCOM
15 Jan 2015
Attempt at highs Will be interesting to see whether 2.4975 can be tested & broken to the upside!!Underlying signals looking quite goodGLTA
paddington_bear
21 Dec 2014
Safestore - keys to success With all these kinds of operation (Big Yellow, Loknstore etc) the most influential twin factors are the occupancy rate and the debt arrangements.Money is made by full units, left undisturbed for long periods (assuming the fees are paid) hence are rather like care homes rather than hotels. Gradually this company is raising occupancy, now 66% UK and 77% France. B.Y. achieves 75% in UK, Lok 69%, so much potential remains.Where SAFE scores is having taken steps to restructure the debt pile necessary to build and service the many units. It is my belief that debt can be further reduced steadily if over 70% occupancy levels occur, leading to self fulfilling improvement in results and possible dividend rises. Bought in November 2014 at 216, carefully keeping an eye on it.PB.
