Lok'n Store Share Discussion Threads

[makinbuks] 07/7/2023 09:55

Very disappointed, wasn't around yesterday so missed this. Would have participated in the retail offer. Can't see why they wouldn't hold that open for a few days to allow PI's to deal with practical logistics

[1c3479z] 07/7/2023 07:35

subscription filled- was there scaling back in the Rex offer?
suspect the fund raising explains why the Directors were such assiduous sellers of stock over the last few months....

[makinbuks] 30/6/2023 09:12

Sound progress on the store development side. Not so clear what the 10% increase in revenue means. It doesn't say like for like. Revenue in the first half was down 1.5% due to store disposals but then Bedford opened in February and trading is said to be excellent. Feels positive to me but hard to judge with so many adjustments to make for a comparison

[makinbuks] 20/6/2023 09:47

hxxps://www.insidermedia.com/news/south-west/self-storage-firm-acquired-by-investor-syndicate?utm_source=southwest_newsletter&utm_campaign=southwest_news_tracker&utm_medium=top_story_article

Private Equity interest in the sector

[1c3479z] 04/6/2023 22:15

written about positively in Sunday TImes as a tip today,
seems to intimate that because it's not a REIT it has more freedom to expand using cash flow rather than paying out dividends as big yellow and safestore have to: therefore one of them might be tempted eventually to bid for them to expand their store estate into adjacent territory.

[1pvh] 24/5/2023 07:50

Reassuring statement, business going from strength to strength.

[johndoe23] 11/5/2023 17:11

Nice small share sale

[1pvh] 22/3/2023 11:57

Trading way below NAV now.

[niklol] 01/3/2023 19:49

Director sold £90,000 Feb 28th

[retail_rights_research] 13/2/2023 21:26

This stock has caught my eye. I think self-storage will benefit as population density increases (this is inevitable). Gearing of the company seems very low and it appears they are taking a cautious approach to NAV. I think this is worth investigating further if the shares trade at a discount to NAV.

[kalai1] 13/2/2023 12:14

Lok’nStore Group plc issued a solid trading update for the six months to 31 January 2023. Same store revenue was up 10.3%, price per square foot was up 9.2% with Net Asset Value expected to be broadly unchanged from the £9.72 per share at the end of FY22. There has been a significant development of new store pipeline, which when developed will add 48.8% to owned trading space. So there is plenty of expansion ahead. The business has seen some cost pressure specifically in the areas of business rates and energy, but management expect the rate of cost growth to return to more normalised levels in due course. Valuation is unhelpful with forward PE ratio over 30x, PS ratio over 10x and PB at 1.41x. All are comfortably bottom quartile for the sector. Share price also lacks momentum for now. One to monitor for the time being...from WealthOracle

[c3479z] 01/11/2022 10:55

Times tempus verdict 'hold.'

[babbler] 31/10/2022 15:13

should have let a share like this run...

[starpukka] 31/10/2022 11:24

Top sliced my holding today following beltin results. Looking to secure profits in these markets although ideally would have liked to let it run.

[makinbuks] 31/10/2022 11:13

Truly stunning results, though the NAV based on a valuation in July may marl a high watermark for a few years with rates rising. CAPEX on the four stores in development is less than cash so presumably net debt will fall again this year which is why they haven't hedged interest rates

[1pvh] 30/10/2022 11:55

Results tomorrow should be decent as usual

[ram376s] 19/5/2022 14:03

Holding LOK .300 nurses to train with GDR new game changer test .Anticipated news . Multibag possible .

[makinbuks] 25/4/2022 17:34

Very impressive set of results this morning. Surprised at the market reaction, or lack of it despite a very poor day for the index. I guess the bar has been set very high by previous announcements

[blackhatgremlin] 10/4/2022 11:52

Been good, Domp time

[km18] 22/2/2022 17:58

...from last year...

Company overview:
LOK is a self-storage company based in the UK, with a total of 36 stores (as of 31/01/2021) MLA sq. ft. of 1.817m. Company’s strategy is focused on providing the best price possible, with the possibility for the client to hassle based on quotes from competition. Growth over the past few years is fuelled by acquisitions of new freehold sites and strategic recycle of old and unprofitable assets into a new pipeline of expansion projects, further supported by a large banking facility expiring 2024. The gearing of the company has increased over the last 3 years following these activities to 44.6% mainly with long term obligations.
The interim results for the period ending 31/01/2021 were quite positive, group revenue was up by 13.9%, at £10.21m channelling a healthy 17.3% growth in EBITDA at £5.5m. Strong cash performance supported 8.25% increase in interim dividend to 4.33 pence. Strong trading was evidenced by “unprecedented occupancy growth” of 24.7%. In the latest update, company saw again increased occupancy at 85.8% and year end pricing went up by 8.7%. Pre-close trading seems to be strong, with 20.9% growth in revenue compared to same period last year. Good news are coming also from LOK’s new store pipeline, details for which can be found below. The company has managed to secure 5 planning permissions and continue to deliver on their plan to increase trading space by 38% and operate 50 stores....

...from WealthOracleAM

[mw8156] 07/2/2022 11:18

Finncap only updated Nav marginally which has been reflected thus far in a small rise in the share price,

[makinbuks] 07/2/2022 08:54

Interesting that such hugely positive updates to both NAV last week and trading this morning meet with such muted market reaction. Looks like expectations are now extremely high.

[santangello] 07/2/2022 08:37

Reassuring and strong update. I shall continue my average purchasing up to around 1150p based on all current company information.

[makinbuks] 01/2/2022 12:26

Yes looks like they'll upgrade the valuation with the half year announcement. Hope they redeploy the cash quickly

[mattafc] 01/2/2022 08:16

Over 20% undervaluation of some of the 'slower growth' stores. What does this mean for the overall valuation of the complete property estate?