Safestore Share Discussion Threads

[dudishes] 05/4/2024 15:41

Bounced out at 740, saw me coming?

[alotto] 18/3/2024 09:15

Is Safe Store balance sheet safe? The quick ratio is 0.5. Can it default on its short term liabilities?

[dudishes] 09/3/2024 14:28

Tks Waldron.

Long 763.

[waldron] 04/3/2024 11:57

Analysts' Consensus

Mean consensus
OUTPERFORM

Number of Analysts
12

Last Close Price
7.86 GBP

Average target price
9.838 GBP
Spread / Average Target
+25.16%

High Price Target
13.4 GBP
Spread / Highest target
+70.48%

Low Price Target
8.3 GBP
Spread / Lowest Target
+5.60%

[waldron] 04/3/2024 11:53

ENTERPRIZE VALUE EV INDICATES IT MIGHT WELL BE UNDERVALUED

[waldron] 04/3/2024 10:02

MIGHT THE FINAL DIVI PAYMENT PUT A SPRING IN ITS STEP

[my retirement fund] 01/11/2023 12:20

any calculations on your premise ?

[hybrasil] 25/10/2023 15:51

Had bit more of a look. It has quite a bit more to fall before I would be interested

[hybrasil] 23/10/2023 14:35

I made an awful lot of money from Safestore nearly 20 years ago.

I haven't looked at it since as it always seemed too dear.

Quick look today. NTA seems to have galloped ahead in a very short space of time.

Id have to dig deeper to see if I believe it.

The price would still seem to be saucy compared too some of the REITS. 5% dividend a bit tight in todays market. I think I'll wait another while yet.

[18bt] 14/6/2023 08:11

Growth has slowed, but quite a few new openings to come. Need to look at more closely. Still a healthy dividend increase - nice compounder in recent years.

[wsm812] 16/2/2023 10:10

Ex-dividend on 02/03/23 also, it will probably fall after this date as investers hit and run the stock for the 20.40p return. At current share price this only represents a 1.9% yield though.

[wsm812] 16/2/2023 10:02

The run from October has been stellar! Expect some resitance around the 1100s, break this wil conviction and a return to 1200s.

[dave scrap gold] 02/2/2023 20:52

Interest rates up = more people needing storage including retailers who work on a just in time basis, have no storage, and less people buying their stuff. Need to keep it somewhere.

[thetrotsky] 02/2/2023 17:20

Nada. Sorry.

Finished UP circa 7%. Big Yellow finished UP circa 6%.

Positive sector sentiment?

A lot of REITs seem to be in positive territory today (RGL, SHED and WHR to name but three). I suspect that Bailey saying that he was cautiously optimistic that the worst of the economic crisis is over helped.

[wsm812] 02/2/2023 14:55

SP currently showing +6%! Came here to see what the chat was regarding our rise.....nothing! Anyone have any knowledge or even theories?

[wsm812] 30/1/2023 15:54

Nice looking chart today, have we been tipped somewhere?

[thetrotsky] 27/1/2023 12:23

The Times has been trashing Safestore (unlike Big Yellow) for years and yet the self-storage market continues to grow, Safestore continues to increase it's EPRA earnings per share and (unlike it's other UK peers) it has a profitable and growing footprint in Europe.

The Times fundamentally doesn't understand the self-storage market dynamics and why, until the chronic property shortage is solved (never), people will continue to use so-called temporary storage on a semi-permanent basis. Where else are people supposed to store their worldly belongings whilst they are shunted from one temporary rental property to another (which are often too small for all their belongings anyway)?

The Times doesn't understand that storage fees, more often than not, aren't just a non-essential spend like (say) Netflix; people continue to pay or risk losing all the belongings that they hold dear (sure there will always be some bad debts but they don't necessarily balloon during economic downturns as might otherwise be expected and often demand actually increases).

Sure, people could do more de-cluttering but they often put it off and, even so, it might not be sufficient to significantly "downsize" their storage requirements. Also, although demand may wax and wane during economic downturns, self-storage units still offer small start-up businesses a cheap(er) way to get a market foothold. Finally, the Times overlooks the fact that the UK/European self-storage market is still very fragmented and that saturation levels are still significantly below countries like the USA.

That said, I think the recent (slight) softening in closing occupancy levels in the last quarter of 2022 (which seems to be a common factor for both Safetstore and Big Yellow) is (perhaps) an indication that those who have alternative storage available have taken the opportunity to move out and reduce outgoings but I don't expect a big exodus (you tend to use self-storage in the first place because you have no other real options available to you).

Safestore is part of my "Forever Fund" and I fully expect the share price to recover to 1400p and above in the coming years. I don't believe self-storage is a passing fad and there may well be opportunities in the short-term for the likes of Safestore to take advantage of their existing economies of scale to acquire some smaller operators "on the cheap".

[babbler] 18/1/2023 06:38

Just to make you aware this has been deramped as an avoid by the times today so might fall. In case you see a fall and wonder why....

[mortimer7] 17/1/2023 08:41

Now hitting 1000p, 25% up from the October lows of 800p, but still way short of the all time highs around 1400p in Jan 2022.

[18bt] 24/11/2022 07:25

Still keeps growing and sounds like some excellent sites have been acquired to continue the trajectory. Watching the observable decline in occupancy rate as they continue to raise prices.

[my retirement fund] 02/10/2022 10:20

Yes very surprised its not been marked down to a sensible discount. Seems to have held up exceptionally well as has its mate, Lok n store.

[hybrasil] 28/9/2022 08:57

I was a substantial investor in this many years ago.

Even after the falls its overvalued. Its worth its assets but that's about it.

[kalai1] 08/9/2022 15:05

Safestore Holdings plc issued a Q3 Trading Update this morning confirming that strong trading continued through Q3 2022 i.e. the period 1st May to 31st July 2022. Revenues were up another 15.1% yoy, ytd revenue is up 15.6% versus the same period in 2021. Closing occupancy was up 8%, maximum lettable area was up 9.9% and the average storage rate was up 8.9% to £28.59. So more space and higher rates. The Group is still expanding solidly and acquired two new freehold development sites in South West Madrid and Almere (Netherlands), adding 91,000 sq ft of MLA to the pipeline. Share price remains in a correction through 2022 so far, valuation is also still average. The company is solid growth and decent quality, but there is no rush to buy. SAFE is a share to monitor for now....

...from WealthOracle

hxxps://wealthoracle.co.uk/detailed-result-full/SAFE/546

[18bt] 08/9/2022 07:27

Same old .... growth. Can't understand the lack of interest from PIs in this share.