Lok'n Store Share Discussion Threads

[santangello] 19/7/2021 11:35

Great, we'll sort that soon, LOoK forward to it....been a while.I am passing the A49 site tomorrow so will have a mooch.Take care till we meet Jeff.

[jeff h] 19/7/2021 10:31

Yes, will be up for a feed when you fancy it Santa.

If you are passing you can see progress on one of LOK's new stores at the below location:-

[santangello] 16/7/2021 12:57

Great to hear from you and to be 'pleasantly reassured' that you hold stocks that I do.....I will sleep easy now lol.Yes I see these as safe and steady.....and when I seen the RNS ref Director purchase yesterday, I took my maiden plunge.BEG and CTO announcements imminent and WIN div too.....and the sun is out, who could ask for more :)Look forward to seeing you soon for a chat, slurp and a nosebag.Take care my friend.

[jeff h] 16/7/2021 11:15

Ay up Santa!...doing ok here and hope you are fine to.

Lok looking like a "safe" share to hold. Occupancy up, number of storage units up, presumably pricing up which is all going to lead to profits and dividends up.

It would be no surprise either if it fell to a bid so one to hold for the long term.

BEG, CTO, Win I also hold.

[santangello] 16/7/2021 09:31

Hello Jeff, if these are good enough for my Guru, it's good enough for me. Hope you are well my good friend :)I have had these on a watch list, and I noted yesterday's RNS and your comments and made my maiden purchase.I have been adding BEG, CTO and WIN over the last 14 months, but have throttled this back now (feel comfortably exposed) and used funds diverted from that process to invest here.Cheers.

[jeff h] 05/7/2021 10:39

Another strong positive update from LOK today, finnCap have a short term share price target of 883p

"Three clear strong share price catalysts:-

(1)Following unprecedented growth in occupancy, to 81.6% from 67.1%, price rises are now likely and will quickly drop down through the P&L, driving profit upgrades.

(2) Valuation yield compression in self storage as an asset class will drive NAV upgrades as property investors recognise its growing attractions compared to the declining attractions of parts of the retail and office sector.

(3) The development pipeline will add 38% to existing space. As new stores open and prove their increasing value and generate cash flow they will drive both profit and NAV upgrades and contribute to the group's continuing conservative financing. Management has today reconfirmed the secured pipeline continues to progress and trading has remained strong in both existing and new stores. We reiterate our view that the shares are substantially undervalued against both prospects and peers...."

[makinbuks] 27/5/2021 12:49

Thanks Jeff, I think we saw that effect clearly in the last update, see my post 1463 above

[jeff h] 26/5/2021 12:19

Sounds as if the company is in a great position, occupancy rates rocketing and surely on the back of the high demand LOK will have pushed through price rises.

[makinbuks] 06/5/2021 11:46

XD today but no dip in the price

[jeff h] 27/4/2021 10:28

The IC says Buy:-

"...A secured pipeline of 13 sites is expected to boost the portfolio space by 38 per cent over the next two to three years. It will also increase the proportion of stores managed on behalf of third parties, which will not only remove the need for the group to commit capital but also bring higher margins than leasehold sites. The shares trade 3 per cent higher than forecast NAV, which leaves them looking good value compared with the far larger premiums attached to peers. Buy...."

[makinbuks] 26/4/2021 11:32

The increase in occupancy was rapid and unexpected. Seems to be linked possibly to the COVID crisis so it may wane a bit over the next couple of years?

[makinbuks] 26/4/2021 11:31

Wow, that quote should be cut and paste into the header!

[jeff h] 26/4/2021 11:25

I been here at 113p since Sep 2012 and have no doubt will still be here for a few more years to come unless the company is bought out.

Superb increase in occupancy surely means price increases will be pushed through soon.

finnCap conclude their update today:-

"..If we assume the pipeline is built and occupancy rises to 85% and prices rise 3% p.a. then we estimate EBITDA will increase by 144% from the £9.7m achieved in FY 2020 and a 1332p share price will be justified"

[1pvh] 26/4/2021 08:22

Excellent long term investment, solid results today growing nicely. Been invested since 2013 at 210p. Still think they're reasonable value at these levels

[stentorian] 20/4/2021 12:49

grabster,

Isn't "Gypsy Moth" a name change from Chichester Storage Ltd (the conceit being that Sir Francis Chichester's ketch Gypsy Moth IV was the one in which he single-handedly circumnavigated the world via the Clipper-route)? Chicester Storage is in the accounts.

[grabster] 10/2/2021 14:32

And for some reason the 'other directorships' declaration on the LOK website doesn't show Gypsy Moth
(though it does show The Box Room)

A little bit of clarification might be worth asking for. The company announcement stated that similar arrangements exist with other sites - but by the sounds of it, not involving Gypsy Moth. Are any of those other Management/Development arrangements with shared directorship entities? (".. The MSA and DAA are each in substantially the same form and commercial terms as other agreements to which the Group is party in respect of its other managed facilities..."). I've been a fan of LOK for some time, so I would welcome confirmation that all is good in this regard.

[bsdjj] 10/2/2021 14:21

It does make me a little uncomfortable that the directors are involved in a private business the same area. Maybe something to take up with the board.....

[thetwentiestrader] 10/2/2021 13:48

These are very fair points, and as you say the 17% holding does allude to the CEO being aligned with Lok Shareholders. However from an optics perspective it doesn’t look great. I also understand the directors have ownership in other sites - so will be interesting to see future transactions unfold.

[bsdjj] 10/2/2021 13:11

Well interesting to point out but I don't necessary think it is an issue. As far as I can see all the related party information IS disclosed in the RNS and sale prices were independently valued by Jones Lang La Salle and determined as reasonable by the company broker FinnCap.Lok's CEO owns 17% of the equity of both companies so I find it hard to see what the incentive would be to rip off the quoted entity when it is growing fast and is well regarded in the market.

[makinbuks] 10/2/2021 12:02

That is interesting research indeed, not sure why it was not disclosed under the related persons rules

[thetwentiestrader] 09/2/2021 17:52

Hi All,

I have written an article for my website, analysing the recent announcements from Lok'nStore. Follow the link below for access:

hxxps://www.thetwentiestrader.com/post/closing-the-door-on-lokn-store

TT

[grabster] 08/2/2021 08:18

"Under government COVID-19 rules, self-storage businesses have been designated as essential services and are permitted to operate during the lockdowns. We provide storage solutions for many customers in essential services including health care, emergency services and food distribution."

[grabster] 08/2/2021 08:05

RNS Number : 2125O

Lok'nStore Group PLC

08 February 2021


("Lok'nStore", the "Company", "We" or the "Group")

Pre-close trading update

"Strong revenue and occupancy growth and expanding new store pipeline"

Lok'nStore, the fast-growing AIM listed self-storage company, is pleased to provide the following update on trading in the half year to 31 January 2021.

Under government COVID-19 rules, self-storage businesses have been designated as essential services and are permitted to operate during the lockdowns. We provide storage solutions for many customers in essential services including health care, emergency services and food distribution. Self-storage is an increasingly integral part of the logistics system within the UK with around 32% of our business coming from commercial customers, many of whom are relying on access to their storage space to continue their essential businesses during lockdown. We have adopted stringent social distancing and hygiene measures to ensure the safety of our customers and staff while continuing to provide this key service.

Trading in the first half FY2021 was strong with self-storage revenue up 11.0% on the previous year. At 31 January 2021 unit occupancy was up 24.7%, a gain of 175,897 sq. ft over 12 months. This is a forward indicator of accelerating revenue growth. Occupancy as a percentage of current lettable area was up from 67.1% last year to 81.6% this year. Price per sq. ft. of occupied space was down 2.6% compared to the same date twelve months ago. In supporting our customers, we have chosen not to implement price increases to our existing customers throughout the COVID-19 period.

We continue to make significant progress on our new store pipeline of 11 sites and we announced a detailed property pipeline update to the market last Tuesday 2 February. Work has commenced at four of these which are all scheduled to open by the end of 2021 or early 2022. This pipeline of new stores will add considerable momentum to sales and earnings growth over the medium term. More sites for further new store openings are being actively targeted.

Interim results will be announced on Monday 26 April 2021.

Andrew Jacobs, Executive Chairman of Lok'nStore said:

"Since the pandemic started, all of our teams have worked tirelessly to keep our stores open while keeping themselves and our customers safe. As an essential part of the local communities in which we operate, our people have been helping new and existing customers through extremely difficult times. I am proud of, and often humbled by their efforts".

"I am pleased to report that occupancy grew by an unprecedented 175,897 sq.ft. up 25% over the previous year and this will feed into further revenue and profit growth in the second half, and into next year.

"We have also made significant progress on our new store pipeline, whilst remaining conservatively geared, with four of these currently under construction opening by early 2022. This pipeline of new stores will add considerable momentum to sales and earnings growth in the future."

The information communicated in this announcement contains inside information

-Ends-

[grabster] 02/2/2021 08:12

Trading Statement coming Monday 8th Feb

Meanwhile, ceo Andrew Jacobs says: "The pipeline of new stores will add considerable momentum to sales and earnings growth allowing further increases in dividends."

[bsdjj] 22/1/2021 17:09

Directors keep on buying which is a good sign....