Safestore Share Discussion Threads

[sam66] 04/7/2007 21:39

Martin

Not sure why you have posted that If you had followed there advice and invested in april :-

BYG 670 down to 532
LOK 265 down to 250
Safestore 250 down to 181

I have been long on byg and lok but not for several months .
I am short with G/stops as i expect a drop on poor results.
all the best with your trade, Sam

[martincoops] 04/7/2007 16:09

Well are we going to end the day blue.....

Only 3 more full trading days till results, clock is ticking to jump on board

[liquidkid] 04/7/2007 15:36

You've heard it before - that these places are a hotel, for things. Now private equity is after hotel sector with Blackstone's $26bn buy of Hilton Hotels. Hotel stocks here are up 5%, Property Cos up 2% & storage?....0

[martincoops] 04/7/2007 10:13

Not short? But I see you have been talking it down since May.

Anyway lost of interest at 180 I see :-))

[hybrasil] 04/7/2007 10:00

No I am not yet short. I made a lot of money out of the old safestore and intend to do the same here.

[martincoops] 04/7/2007 09:11

Or did I mean you've made your money now close your short and go long to make some more.... ;-)

[martincoops] 04/7/2007 09:08

hybrasil

I doubt anyhing you or I say will move the price of this share and I am sure that we can have some good humored banter on here, your short im long and I am sure we will both make money.

[martincoops] 04/7/2007 09:02

From the last trading statement

Extended the lease on the Stoke Newington facility from two to twenty
years. We expect the extension of the lease to positively impact the
property valuation of this site.

[martincoops] 04/7/2007 08:57

Another thing to remember is that the property portfolio is growing in value each year due to property prices and the fact that they are expanding some of the stores. I would expect it to grow by at least 6% this year minimum and that is without the expansion of the stores or new lease agreements

[martincoops] 04/7/2007 08:54

Yep you did and I have

However they refinanced their loans reducing interest in June and also had a one of charge of over £4 mill for doing this



£230 mill at 7.5 % = £17.25mill interest so £10 mill under your quote

[hybrasil] 04/7/2007 08:48

Martincoops
I took my figure from the accounts. I respectfully suggest you read them.

[martincoops] 04/7/2007 08:32

So there we have it a property company with a portfolio of properties worth around £500,000,000 and what looks like a profit of at least £8,000,000 on the buisness it runs which is growing at double digit growth.

Looks like it is well undervalued and with only 4 trading days to results decision time is fast looming for the shorters.......

Currently over 2% of stock out on loan

[martincoops] 03/7/2007 23:25

hybrasil

I have read you 'note' and there are a lot of mistakes the easy one to see is your interest one.

Their interest bill in 2006 was £28 million. Rates have gone up since

Well with 230 mill owing at 2% above works out at £17.5 mill. I see that will mean a £10mill windfall. Will that result in a £8 mill profit before increase sales and better profit margins.

Starting to look good now I feel.

Will post more tomorrow

[martincoops] 03/7/2007 16:28

Well off to the pub now

Good luck to longs and shorters and lets hope we all make some money.

[martincoops] 03/7/2007 16:16

This company makes a great profit, is growing at double digit rate and its portfolio of property was valued at over £477,000,000 in Oct 06.

Property values are still rising so even that figure is conservative now

[martincoops] 03/7/2007 16:12

Keep shorting away then hybrasil, If you think that the Instis invested at £2.40 (and the shares were over allotted) because they thought it was a waste of money I suggest you think again.

I dont think so....so very happy to be long at this price. Only 5 trading days to go before we see those results which we know are ' in line with market expectations'

[martincoops] 03/7/2007 16:01

Looks like I will be in profit as well sam very soon, hope you did'nt get too greedy :)

[hybrasil] 03/7/2007 15:59

martincoops.
I suggest you read the accounts a little more carefully.
If you refer to my post 47 You will see the net assets are £191 million and there is no hidden value there as Bridgepoint naturally had the valuations fully up to date at the float.
So you see my point net assets £191m v MCAP of £336m. Be careful. Its a roaring short.

[martincoops] 03/7/2007 15:58

Looks as if £1.80 is providing good support if this bounces from here it could go straight pass £2 in a few hours tomorrow

[martincoops] 03/7/2007 15:47

100,000 buy looks as if some shorters are getting out now..

[martincoops] 03/7/2007 15:36

Market cap £336 mill but property valued at £477 mill (valuation carried out in Oct 2006)

Well that tells me that this is well undervalued

[martincoops] 03/7/2007 15:34

Good for you sam, but dont get too greedy :)

[sam66] 03/7/2007 15:30

I have increased my short this morning and they are already 6 points in profit ;)

[martincoops] 03/7/2007 15:28

Well it does move quick I'll give it that.

Only 1 week to go though so lets see what happens for the rest of this week