Lok'n Store Share Discussion Threads

[wan] 01/11/2005 10:26

Konil...I certainly cannot complain about the share price performance, having built up a meaningful long term holding from May 04 onwards. With LOK moving firmly into the black, being significantly cash flow positive, and starting to gain some notable critical mass, if the share price fails to reflect the business worth/potential, then LOK are indeed likely to become a bid target, again! Kingston could provide either a share price catalyst or alternative attention, given that the revalued self-storage assets are at £33.6m and the market cap is at only £37.5m, and Kingston is not factored into those figures as residential value etc i.e at least an additional circa £8m (31p), so currently the market is still undervaluing LOK, but I fancy (inc the directors?) another re-rating period is on the cards, time will tell.

A patient holder/accumulator, wan

[wan] 01/11/2005 09:49

KT...I actually missed the Director buys yesterday -


Always inspires confidence.


Had a quick look, but I cannot find any bid target stories, apart from those we aleady knew about. Will look more thoroughly later.

Regards, wan

[konil] 01/11/2005 08:43

there have been a lot of false dawns for the share price of this stock - and before anyone jumps down my throat, i am NOT referring to lok's potential and business performance which are both excellent - i refer to the relatively disappointing share price performance

i wonder if anything has really changed over the last month or so, or will things drift back into their usual apathy after the results hullaballoo fades away

[kievtrader] 01/11/2005 08:35

Look at London Stock Exchange website - there is comment on a Buy recommendation this morning in the Independent citing LOK as a possible bid target. Small buys going through this morning pushing the price higher.

Institutional trades after this mornings analysts meeting would be of greater interest.

[wan] 01/11/2005 07:57

KT...A small mention in the FT this morning, and post the analysts meeting might generate some upgrades over the coming days weeks. Apart from that LOK is not that widely followed, however, the potential newsflow looks good over the next few months, which might also lift the profile/coverage, I am in no rush though, as its qutie plain to see where LOK are heading without press comment etc.

Regards, wan

[kievtrader] 01/11/2005 06:16

Thanks wan for the updates. I am abroad at present so would be grateful if details of any newspaper comment on the LOK results/tips could be posted here.

New directors buys create a new floor for the shares at this level. A nice share tip in the papers would be nice either today or over the weekend to get fres buyers to take aout any loose stock.

[wan] 31/10/2005 12:53

FY results highlight strong growth in occupancy levels, customers and cash generation, says Numis Securities. Expects the company to expand at a faster rate than had previously been anticipated now that a new banking facility of GBP20M has been secured. "The outlook for the future remains bright," Numis says. Sees growth in self-storage market and expects the company to reap the benefits of a larger estate. Pegs target price at 191p.

[wan] 31/10/2005 08:01

Furthermore there appears to be a solid foundation under the share price, from obviously the re-valued asset base, but perhaps also notably the continued authority to buy back up to 23.3% of the Company's issued share capital, and of course the prospect of consolidation, which given LOK's performance (not to mention the previous approach) may be blipping louder on some radar screens. Which in my opinion only, appears to give an excllent, relatively low risk, exposure to a substantial growth opportunity. And to top it all we still have conclusion of the sale/development of Kingston to come. Reading will require some more of the afore mentioned patience.

[wan] 31/10/2005 07:25

A very solid set of results, beating analysts forecasts, and 'imporatntly' predicting further and continued growth. -

[wan] 28/10/2005 08:42

Small mention in Todays IC, the week ahead - Highlights LOK's results and that it is the company's portfolio of self-storage sites that are attracting attention.

[wan] 27/10/2005 08:03

Back into oversold territory only two days ahead of the results? I note that this time around the results are accompanied by an analysts meeting at 10am, perhaps a notable break from the past? -

Andrew Jacobs, Chief Executive and Ray Davies, Finance Director will be hosting
a presentation for analysts at 10am on Monday 31st October at the offices of
Financial Dynamics, 26 Southampton Buildings, London, WC2A 1PB.

[wan] 19/10/2005 08:45

Did anyone note Rugby Est interims? Anyway I thought they made for interesting reading given what I posted earlier -

From the Prospects section -

Prospects

Institutional money from the UK and overseas, both equity and debt, continues to pour into UK real estate investment. Current interest rates continue to fuel a seemingly insatiable appetite for property investment in all sectors throughout the UK but particularly in London and the South East. There appear to be grounds for some optimism in the office and industrial sectors due to increased tenant activity coupled with lack of supply, leading to a lessening of tenants'incentives and rising rents.(end)

Note that the particular area of interest is LOK's target market.

Full details of prospects -

[wan] 10/10/2005 07:21

If you are invested or considering it, the following is a very interesting read, if not a must read (for FT subscribers) -

Some key points mentioned -

Augusts $2.5bn unsolicited takeover approach for Shurgard Storage Centers.

US Reits are set to be looking across the Atlantic.

Many players believe the market is ripe for consolidation. Storage USA or other big US Reits as likely players.

The UK self storage market may double in 10 years, BYG expecting 7-8% growth per year. -

FT article - It is not all about cardboard boxes and moving home -

[kievtrader] 08/10/2005 09:57

Volumes good again on LOK and BYG. Good sign.

[wan] 07/10/2005 07:32

KT...It certainly appears there is a good degree of interest in LOK shares, Sept was in fact quite notable re comparable volumes, and Oct has started in a similar vein.

[kievtrader] 06/10/2005 16:52

Big Volume today also mega volume on Big Yellow Group. Someone has a focus on this sector. Lets hope its stakebuilding ahead of corporate activity.

[wan] 06/10/2005 10:32

As I said level 2 made for interesting interpretation, large buyers re-emerge.

[wan] 06/10/2005 09:13

A few sells today, but level 2 makes for interesting interpretation. One of the aspects I like about LOK (and self storage) is how they provide business with a facility without the need for those businesses to commit to large capital expenditure, and LOK's business rental provides more income than residential, 60% from memory. Furthermore recently BYG suggested their business was proving relatively resilient to economic slowdown.

[wan] 05/10/2005 07:43

Thats quite a few days now that late and protected trades have been going through, check the trades pages going back into late September.

[kievtrader] 04/10/2005 12:29

Market seems short of stock. They seem to be running a lot higher

[konil] 04/10/2005 09:32

thanks for clarification wan

[wan] 04/10/2005 09:17

Konil...Good morning, LOK are still able to appeal up to 12 months after the decision, however, as I understand it LOK are still in discussion with planners with a view to a re-submission regarding Reading (these things take time, and there was nothing new on the table as of last month), but it may be worth holding off until 66-68 gets a decision (only a few weeks away). At this stage I have no idea what similarities there are or might be with LOK's site, however, the application (for 66-68 Berkeley Ave) suggests it is currently a non residential site. From memory I believe LOK's Reading site amounts to more than just a self-storage site, and I am not suggesting 66-68 belongs to LOK.

Regards, wan

[konil] 04/10/2005 09:02

hi wan, thought the reading planning app had gone in last year - so i assume this is a new one, in which case are lok also appealing the old application which presumably was refused?
and from your post it seems that lok have more land at reading?

[wan] 04/10/2005 08:33

It will be interesting watching the outcome at 66-68 Berkeley Ave, Reading, on which a planning application for Redevelopment for residential use (39 flats, and 1 house)was applied for on the 8th Sept. It is approx 700m from LOK's Reading site.