Lok'n Store Share Discussion Threads

[richie32] 11/4/2024 10:10

I see a real possibility of a counter bid.

It's a growing market but the best profit is in new builds and these take time and money.

I can see an established company couter bidding as acquisition is preferable to expensive organic expansion.

[con90210] 11/4/2024 10:06

Bid currently above offer price of the proposed deal so definitely an option of another bidder here imo.

[cfro] 11/4/2024 10:00

Well done all you lucky holders..

Actually i just noticed that sell trades are going through at 1126p which is above the offer price. Rare for that to happen and unusual, only when there is a chance of a counter-bid.

[c3479z] 11/4/2024 09:49

so, where does one put the proceeds with IHT mitigation in mind? sad that ABC, EMIS and LOK have gone three of the more reliable outfits on AIM
price has risen above the offer - any chance Big Yellow or safestore might counter-bid?

[lindowcross] 11/4/2024 09:45

I have done well from this company too. Thanks due to Lord Lee who has written at length in the FT about his holding.

[makinbuks] 11/4/2024 09:14

This will be farewell to a very good friend. Bought in 2010 at £1.18 and £1.41, sold 20% in 2019 at £4.78 which returned my stake and a 50% profit. I've had dividends equal to 80% of my original stake and now its being taken out at an all time high. A great buy and hold story and of course privileged not to have needed the cash over the 14 year period. If only they were all like this!!

[george stobbart] 11/4/2024 08:10

Someone from the LOK leaky boat must have whispered to the brokers the past few weeks

[jockthescot75] 11/4/2024 07:24

Yup - really poor C3479z. Completely agree.
I'm not sure what to make of the offer really. A slight premium, but not much,...

[c3479z] 11/4/2024 07:19

this takeover leaked badly in the last few days....people in 'dark glasses' cashed in even yesterday late afternoon.
reason why it's so difficult to beat the market, is the problem of insider dealing particularly prevalent in the smaller cos in the UK and the larger cos in US?

[richie32] 10/4/2024 16:37

Getting close to the price this time last year

[george stobart] 09/4/2024 14:20

Takeover bid on the cards?

[makinbuks] 23/2/2024 14:08

Hmm, weakness in occupancy was not what I was expecting as we add a further 200sqft of capacity this year

[1c3479z] 20/2/2024 07:28

softness in occupancy offset by marginal increase in price per sq foot, 4% ahead is behind after allowing for inflation below the 5% they're paying on loan
Increase in NAV expected on revaluation of 2 stores now opened at year end.
Well-invested and located estate.
Therefore still a takeover target eventually.

[richie32] 28/12/2023 15:56

Graph looking good as it creeps up almost every day

[1c3479z] 31/10/2023 11:36

balanced appraisal by edmond Jackson on ii platform, says it's getting back on the radar at this price and concludes as 'hold' not an outright buy cites rather pedestrian growth but eligibility perhaps for IHT relief, asset backing, cost pressures.

[makinbuks] 30/10/2023 11:06

Yes I agree the tone was more muted than normal and I haven't fully digested yet. I think it would be a mistake to consider this alongside others in the real estate sector. Yes this has a property angle but it is a successful operating company too. Lets see if they're right about cost increases abating but in the meantime margins are extremely healthy

[1c3479z] 30/10/2023 11:01

running hard to outpace cost increases, occupancy marginally down, debt very low set to rise slightly, must be a takeover candidate eventually, 5th largest self storage operator after Big yellow, safestore , shurgard and one other? access. recently opened store trading described as 'good' rather than 'excellent' which was the adjective used previously, slight pause in the building programme for new sites by the looks of it.
On the face of it, cheap in relation to NAV though many others in real estate on similar discounts.

[makinbuks] 30/10/2023 10:48

Real value here. NAV £9.86 (discount 33%). Dividend 19p, 1.5X covered, yld 2.9%, 10 year record of increases. Excellent trading prospects, post y/e revenues +6% and new stores opening. Extremely lowly geared at LTV 3%. There could easily be 50% upside here

[makinbuks] 14/8/2023 15:56

"Share price has been drifting for two years" :only if you take the beginning and end price. We are close to a two year low and the shares have traded 50% higher in the period on lesser earnings. Plus they have owned stores not long opened and four more to come in the next 12 months. A good entry point I would say

[km18] 14/8/2023 15:14

Lok’n Store issued a trading update for the year to 31 July 2023 this morning. Same-store self-storage revenue was up 12.1%, total self-storage revenue was up 5.3%, while pricing was up 6.8%. Total occupied unit space was level with last year. Further progress on the new store pipeline was made with two new Landmark stores opened in Bedford and Peterborough taking the total number of stores in the portfolio to 42. Building work continues at 3 new Landmark store developments in Staines, Basildon and Kettering, all of which are expected to be open within the next 12 months. Valuation remains a cloud with forward PE ratio at 25.9x comfortably bottom quintile for the Real Estate Operations sector. The share price has also been drifting sideways for 2 years and lacks momentum. One to monitor for the time being...

...from WealthOracle

[km18] 14/8/2023 15:13

Lok’n Store issued a trading update for the year to 31 July 2023 this morning. Same-store self-storage revenue was up 12.1%, total self-storage revenue was up 5.3%, while pricing was up 6.8%. Total occupied unit space was level with last year. Further progress on the new store pipeline was made with two new Landmark stores opened in Bedford and Peterborough taking the total number of stores in the portfolio to 42. Building work continues at 3 new Landmark store developments in Staines, Basildon and Kettering, all of which are expected to be open within the next 12 months. Valuation remains a cloud with forward PE ratio at 25.9x comfortably bottom quintile for the Real Estate Operations sector. The share price has also been drifting sideways for 2 years and lacks momentum. One to monitor for the time being...

...from WealthOracle

[makinbuks] 10/7/2023 12:59

The price has only dropped to something like the level of the discounted offer. Because I didn't participate I am now diluted. This is a high quality company in my opinion and they chose a poor moment to raise money in such a dilutitive manner

[niklol] 07/7/2023 20:38

Please excuse my ignorance but what is the point of this when the share price has dropped now?
Thank you