Lok'n Store Share Discussion Threads

[ronwilkes123] 14/11/2009 21:52

interesting

Big Yellow Self Storage March 2009 NAV c.440p (diluted by share issue) - share price 400p (c.90% of NAV).

Safestore April 2009 NAV 194p - share price 140p (72% of NAV).

LOK July 2009 NAV £2.07 share price 70p (c. 33% of NAV).

[scburbs] 12/11/2009 08:13

Positive trading statement from Safestore should help sentiment.

[martincc] 11/11/2009 09:56

Thanks for pointing this out scburbs,

Does look very cheap compared to it's direct competitors and property cos. in general.
65% discount to nav, low @ ltv 31.7%, reinstated dividend and good news going forward (planning permission in place for next 4 stores)

Is due a re-rating, just need to wait for it to be discovered.

[nurdin] 10/11/2009 09:37

Interest building up now...first stop 100p imo

[scburbs] 09/11/2009 21:54

Big Yellow Self Storage March 2009 NAV c.440p (diluted by share issue) - share price 400p (c.90% of NAV).

Safestore April 2009 NAV 194p - share price 140p (72% of NAV).

LOK July 2009 NAV £2.07 share price 70p (c. 33% of NAV).

[scburbs] 09/11/2009 12:20

Looks cheap to me. I bought in first thing.

[nurdin] 09/11/2009 11:13

Looks grossly mispriced here....NAV over £2/share,business going well and divi resumed after a cautious omission in H1.

Dont know what else the market wants...

[johnv] 07/10/2009 16:39

anyone still following these, read the scsw story also, been wondering whether to get some.

[nurdin] 14/9/2009 09:40

This is what they said in their pre-close trading statement on 3rd Aug:



RNS Number : 7240W
Lok'n Store Group PLC
03 August 2009

?
Lok'nStore Group plc (Loknstore)
Pre-close Trading Update


Lok'nStore is pleased to announce that trading in the second half of the
financial year to 31 July has been robust, recovering strongly from the
challenging economic conditions prevailing in the first half of the year.


In each of the last six months occupancy has seen a month on month
increase, recovering earlier falls, and is now up 2% year-on-year. Average
revenue per square ft, which was softer in the winter, is also rising again.


The Group has a strong asset backed balance sheet. Net debt of GBP25 million is
well supported by a banking facility of GBP40 million which runs until 2012.



Results for the year ended 31 July 2009 will be announced on 9th November 2009.

[nurdin] 14/9/2009 08:24

Had a few after that nice SCSW tip...'Net Assts of 200p against 77p share price'

Good nuff for me..:o)

[mrstock] 22/6/2009 14:17

anybody think that ADVFN should redesign their site? a bit hard on the eyes now.

[jjdolphy] 05/5/2009 13:19

youmight be wrong mrstock. Last time news was leaked and today we've seen a 10%+ rise!

[westcoastrich] 30/4/2009 20:20

if it doesnt happen this will fall to 40p ?

[mrstock] 23/4/2009 19:48

"anybody got any thoughts on why share price is dropping." Yup. Any offer will be lower than where the management perceive the value of the stock. It ain't gonna happen imho.

[mrstock] 23/4/2009 19:46

Yawn. Do you really think the big shareholders will sell? They were buying stock much higher up and have been notoriously greedy about the perceived value of the company viz. 2 previous potential offers that came to naught.

[jjdolphy] 23/4/2009 12:54

anybody got any thoughts on why share price is dropping. News leaking of deal not happening?

[vassily] 17/4/2009 01:32

A possible offer and the share jumps more than 100% of its low, and I am the only one posting? Come on. There must be some interest?

[jonut] 15/4/2009 13:56

Possible Offer announced to day AFTER the 20% rise

[mrstock] 11/2/2009 19:01

Simply seen by the market as a property company which is the crux of the problem. The demand for its underlying business is predictable and constantly growing so that isn't an issue. The share price severely under rates this company, but then again the rest of the market is like that right now, eh?

I would be surprised if it doesn't get back to 100p within the year. It certainly is in no danger of going bust.

[pugugly] 10/2/2009 08:12

Has anyone done any in depth analysis of this coy/
My initial reaction is that like most property companies it depends very heavily on borrowing .

The covenants from the AR are:-

Interest cover of not less than 1 based on Group net operating EBITDA

and ratio of net debt to Freehold properties of not greater than 75%

While the Board were comfortable with these I am concerned that given the high gearing and the downturn in the general economy and in particular Commercial property valuations they could be at risk.

In particular I am concerned that the company has been buying back shares at very siginificanly higher prices. What does this say about managments commercial judgement?


Views - Coments

[No investment advice intended - just a seach for more information and views from those who know this company/sector better than I]

[vassily] 16/1/2009 02:28

No ups and downs, just down.
I think it's too early to get tempted by LOK, but they do have some nice assets.

[vassily] 09/12/2008 01:39

SAFE price now less than LOK. Interesting times.

[vassily] 03/12/2008 23:46

Thanks Pug.
Yes, debt is all important. You got to be able to service it.
Have you seen the debts of SAFE and BYG? Massive. Not sure about their prospects as have done little research. LOK is a little more conservative, I feel, if a slower performer.
Confident self storage has a future as US storage did survive the 90s downturn.
Will consider buying property after more bad results come in, and they surely will.