Lok'n Store Share Discussion Threads

[mrstock] 03/12/2008 18:14

The real problem with this company is that it is treated as a property company by the market, and a bank by its employees.

.. ok that was harsh!

[pugugly] 02/12/2008 09:01

Take care about the level of debt. Gearing some 54%. Property companies are not teh flavour of the month.

[vassily] 11/11/2008 02:17

22p?
Not sure about 22p. That's quite a haircut.
I'd like to know the current value of their properties. I don't think the recent results had an up to date value. The property market has changed so much in just a few months. Anyone have any info on commercial property value trends?

[vassily] 08/11/2008 16:19

What?
SP is coming down. Dividend is a growing percentage of share price Management claims they are fit enough to see out a prolonged economic downturn.
Still think it might go sub 60p for a more prolonged period on more bad economic news in the UK and from overseas.

[mitzis] 05/11/2008 15:47

Something wrong here.

[vassily] 21/10/2008 00:31

Good points Mr Stock.
I agree, the stock buyback appears to have been poorly thought out. They are in the real estate business, right? What was wrong with holding onto the cash and then ploughing it back into some new real estate. Hindsight is a wonderful thing.
I think the guys in charge need to concentrate a little more on this business. It was noted on this BB some time ago that management have been undertaking other small-scale ventures absorbing time and energy, if not cash.

Is it going to be 50p a share? At lower prices I am tempted because of the property. SAFE and BYG are also tempting for the same reason.

[mrstock] 14/10/2008 15:33

they won't sell out when the price is high and they won't sell when the price is low. they won't invest in more facilities to get more CASHFLOW - what IS the problem here?

[mrstock] 14/10/2008 15:32

isn't about time that this management was shaken up a bit?

[mrstock] 14/10/2008 15:31

oh ... and that stock buyback earlier this years looks like a waste of money now doesn't it?

[mrstock] 14/10/2008 15:28

well if LOK paid a decent dividend their stock wouldn't be so low - sorry to harp on!! wish i were a director - they constantly lob themselves free options.

[vassily] 05/10/2008 16:20

LOK is coming back to prices last seen in 2003. At some point they are going to be worth consideration because of the value of the properties even if such properties are now worth less. Where is that point, though? Anyone any ideas?

[vassily] 02/10/2008 02:14

More drop to come as people move out of equities.
I wonder how LOK is holding up with their credit facility

[mitzis] 01/10/2008 16:35

Looking at todays action I would say no.

[mrstock] 24/9/2008 11:54

I would say this has bottomed. The property sector stocks too. IMHO

[vassily] 24/6/2008 22:43

Where is LOK going? Down it seems. Still some way to go to match BYG's +100% drop. Strange that SAFE is holding up. Perhaps they'll see some more decline.
Does anyone think LOK can be taken over at lower prices? I cannot see it myself. I think the management would resist and some people are becoming more risk averse, understandably.

[vassily] 12/6/2008 23:07

Thx Mr Stock. I thought of that point after I posted, but I wonder what the difference is in cost, after all you do have to go to and from the storage to obtain your wine. That movement has got a lot more expensive in the last three months.

LOK still holding up. Have you seen the price of BYG? Any views on their price going lower?

[mrstock] 11/6/2008 13:41

"Surely, if you can afford to have wine to store you should be able to afford a house with that facility, portable or built-in."

They are probably selling these facilities to wine merchants.

[vassily] 30/5/2008 23:01

BYG took a big whack: 400p to 325p in a few days.
That's a large devaluation in the property portfolio, and they still have to pay the interest on the loans it took to buy them. That said, they seem keen to grow further and have some money left from their huge pile/facility to do so. I only wish LOK had such capital resources.

What do people think about BYG's wine cellar storage in Fulham. Is it bad timing considering the economic news? Surely, if you can afford to have wine to store you should be able to afford a house with that facility, portable or built-in.

My guess is LOK will do fine in the near future because it beats the bigger boys on price and right now that is important. I also think that storage is so boring to most people that a good price and adequate facilities is enough for most people. I know when I looked for storage overseas, which did not take very long, I went for the best price deal in a well run, less flashy mainstream company.

LOK still remains the best value per sq. ft out of the three traded storage companies and it's still growing, slowly but surely, and without the aid of expensive TV adverts. ;)

[vassily] 23/5/2008 23:39

I stand corrected. The adjusted NAV was 2.13. I wasn't far off, though. :)

mrstock, why so positive now?

[happyjackal] 23/5/2008 15:01

General mood in sector depressed due to macro economic factors. In the long term fundamentals will always out, but patience is required. LOK is one to lock away in the drawer for a couple of years.... hopefully by then delivering a 30-50% return. Ain't going to make me rich, but not too shabby nonetheless.

[mrstock] 23/5/2008 14:53

Thanks HappyJ - still value there. Just wish they could ramp the growth up.