Share Name Share Symbol Market Type Share ISIN Share Description
Safestore Holdings Plc LSE:SAFE London Ordinary Share GB00B1N7Z094 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 681.50 448,624 16:29:33
Bid Price Offer Price High Price Low Price Open Price
681.00 682.00 687.00 673.50 679.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 143.90 185.30 84.40 8.1 1,436
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:22 UT 158,051 681.50 GBX

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Date Time Title Posts
31/1/201409:42Which Are The Safest Banks?2
08/4/200707:56Booming Self-Storage Sector Player2
29/4/200615:10Stuck in "Safe mode": Cannot get Windows to Run13
08/1/200411:13PUBLIC SECURITY stocks to keep you SAFE24

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Safestore Daily Update: Safestore Holdings Plc is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker SAFE. The last closing price for Safestore was 681.50p.
Safestore Holdings Plc has a 4 week average price of 642p and a 12 week average price of 578p.
The 1 year high share price is 709p while the 1 year low share price is currently 496.40p.
There are currently 210,661,824 shares in issue and the average daily traded volume is 1,629,404 shares. The market capitalisation of Safestore Holdings Plc is £1,435,660,330.56.
mortimer7: Frustrating to see share price back at levels last seen in April this year. Last weeks Q3 trading update was positive... CEO Commented "The company is in a strong position and remains on course to meet the Board's full year expectations."
mortimer7: Holdings RNS:- Norges Bank increase their stake...
mortimer7: Looks like another "blue" day today, the 5th trading session in a row, is pretty much nailed on after todays RNS:-
18bt: It's not often that a share price shoots up on news of a share placing. More dermis king and now growth potential
tricky1992000: Increasing demand for storage solutions could boost this company's growth. This week, my search for solid companies with a good track record, room to grow, and a reliable and growing dividend yield, has taken me to the FTSE Small Cap Index. Mind you, I wouldn't describe this company as a tiddler, sporting as it does a £274m market capitalisation. It describes itself as the "UK's largest and Europe's second largest self storage provider," and it goes by the name of Safestore Holdings (LSE: SAFE). It's a company that does what it says on the tin, and if you want a rapid appreciation of what it can do for individuals and companies, it's a good idea to take the virtual store tour that's available on the company's website (with the sound up!) In, out I think you'll agree the website looks very polished, and geared to making sales efficiently. That's what I like to see in companies that make potential investments: it's got the appearance of a business that has been successful, looks to have learnt how to optimise the execution of its operations, and has developed a recognisable and marketable brand. To my way of thinking, by picking established and apparently hitherto successful enterprises to invest in, I'll have a pretty good chance of minimising the downside. The belt to my braces is that businesses like this one, have just survived the worst recession in a generation. However, the company's fortunes haven't always been forged in the public arena. For example, in 2003 it delisted from the AIM market, and was the subject of a management buyout. It wasn't until 2007 that it then listed on the main market of the London Stock Exchange at 240p per share. Shake it all about During its years in private hands, the company experienced what it describes as "transformation" when it acquired four other businesses and increased its store count from 24 to 99. Today, it operates 118 stores, 22 of which are in and around Paris with the rest in the UK. To put that into perspective, the business owns around 5.2m square feet of lettable storage space, with around 3m square feet currently occupied. What I find interesting is the performance of the business since its 2007 appearance on the main market. To iron out the affect of property value fluctuations in its net profit figures, I've concentrated on operating profit that has been adjusted to remove the property element, and cash flow, for an indication of performance in this table: 2007 2008 2009 2010 Revenue (£m) 74 83 84 89 Operating Profit (£m) 41 45 47 48 Net cash from operations (£m) 26 28 25 28 Dividend per share 4.5p 4.65p 4.65p 4.95p Net cash return on equity 10% 11% 10% 10% Revenue profits and cash flow have all held up well through the recent economically tough years and the business has returned a reasonable return on equity through that time. This has all translated into a steadily rising dividend. Having said that, the company appears to be pumping most of its cash into the improvement, maintenance and expansion of its property portfolio and has a pipeline of stores under construction valued at £18m. Also to that end, there is a fair chunk of debt with gearing of about 140% if you include stuff like finance lease commitments, too. The hokey cokey It's clear that the business has plenty of capacity for expanding its turnover and in the latest guidance released on 17 February, the CEO said: "We are confident that Safestore, as market leader, is well placed to take a bigger share of the overall market through our operational expertise, national coverage and scale and is ideally placed to exploit any potential opportunities." So with economies on an upward improving trend, it's easy to imagine the housing market picking up, for example, with a resulting increase in demand for the services of companies like Safestore. Meanwhile the latest balance sheet shows net tangible assets of around 144p per share which compares well to the share price of 149p as I write. In fact, it's tempting to think of the business purely as a property company when the market capitalisation is so well supported by the asset valuation. However, to do so might underestimate the strength of the business model and its potential to deliver greater profits in the event of higher occupancy rates, in my view. It's useful to compare net cash from operations, which is derived after interest payments, to the market capitalisation. If you do that, the ratio is around 10 suggesting a fair valuation for the operating business. There is also a historic dividend yield of about 3.3% to keep investors company. Turn around There is change afoot at Safestore with a new CEO taking charge after the recent retirement of his long serving predecessor. That could unsettle investors, especially since the outgoing boss presided for around nine years and guided the business through its recent growth. On the other hand, it looks like he has left the company in good shape and my guess is that the business might do well for investors over, say, a five year investment horizon if it can continue to gain market share and fill its spare capacity, perhaps due to rising demand as economies continue to recover.
tricky1992000: motley fool writer on safestore Storing boxes is a profitable business. American-style self-storage facilities are a relatively recent arrival to the UK. But for both consumers and businesses, they offer a convenient way of storing possessions and documents, on either a temporary or long-term basis. From a UK investor's perspective, the market leader is Safestore (LSE: SAFE), which has 118 stores throughout the UK, and 22 stores in and around Paris. Describing itself as the UK's only national self-storage provider, it serves 41,000 domestic and business customers, employs 500 people, and has 5.2 million sq ft of lettable storage space. What's more, it continues to add new storage outlets, opening three more during 2010 -- two in the UK, and one in France. A further ten stores are reportedly in the pipeline. Recovery It's difficult to quibble with the company's annual results for the year ending 31 October 2010, published this morning. The contrast with the recession-hit results of 2009 couldn't be more stark. * Revenue up 5.7% to £89.2 million. * Pre-tax profit of £29.2 million, contrasting with a prior year pre-tax loss of £9.4 million. * Adjusted EPS up 8.9% to 8.19 pence. * Final dividend increased by 8.3% to 3.25 pence. * As at 31 October 2010, the property portfolio was valued at £687.2 million, up 6.1% since October 2009. Additionally, rental rates were at a record £25.55 per square foot, while end-of-year occupancy was also at a record 2.94 million sq ft, up 168,000 sq ft -- and an increase of 195% over the growth experienced in 2009. Given a fairly flat economy and a stagnant housing market, retiring chief executive Steve Williams seemed pleased, describing 2010 as "a year of considerable progress". Property portfolio That said, there's more to Safestore than meets the eye, and any investor will want to take a long hard look at several aspects of the business. Most notably, Safestore is a property company, albeit one with a difference. So rental yields and occupancy rates come into consideration, in other words, as do property valuations and associated gains and losses. As fellow Fool Owain Bennallack points out, the commercial property sector is attractively unfashionable, but not without its risks and dangers. That property portfolio valuation of £687 million is reassuring, for instance, but it's only an opinion. Likewise, talk of becoming a tax-efficient dividend-friendly REIT at some future point is just that: talk. That said, Safestore's portfolio seems fairly solid. Roughly two-thirds of the UK portfolio is either freehold or long leasehold, with UK short leasehold properties ("short" being defined as 25 years or less) having an average remaining lease of just under 13 years. Less than half the French properties are freehold or long leasehold. The business in France also complicates life -- both from a property valuation and management perspective, as well as exposing the company to currency fluctuations and hedging. Debt is a factor, as well, although new (and larger) banking facilities have been negotiated until August 2013. Net borrowing (excluding finance leases) at 31 October 2010 stood at £294.0 million, little changed from the previous year, resulting in gearing of 109% -- high, but not ridiculously so. Finally, although a well-established business, Safestore doesn't have a long stock market history -- at least, not this time round, anyway. Taken private in a management buyout in 2003 that seemingly left some investors feeling unhappy, the business returned to the market in 2007. Trading above 250 pence at the time, the share price dipped to 40 pence in the depths of the recession, recovering to 135 pence today. Is it a buy? Analysts unanimously rate Safestore as a "strong buy". On balance, I think they're right. The P/E of 11 isn't screamingly cheap, but the growing dividend provides a tasty forecast yield of over 4%. The PEG ratio of 0.2, meanwhile, places the business firmly in 'take a look' territory. More to the point, while many property companies invest in office space or retail space -- and are thus subject to economic vagaries and the overhang of distressed properties held by the banks -- Safestore ploughs a different furrow: edge-of-town sites rented to people with a lot of cardboard boxes to store. One for the watch list, I think.
09:42 Bumped up their rental rate by 11.2% to offset declining occupancy. Cannot do that without losing even more custom - and the market clearly sees that. Share price has halved in 4 weeks with sellers racing for the exit. Now plunging into pennyshareland.
tricky1992000: just looked at this share today, fair divi, good pe, interested because i think this sector has potential to grow, i have also seen byg their growth seems rapid, share price seems to be marked down on falling property prices, although i don't think this evalues the initial business. Hybrasil? tudo bem? voce sabo o brasil? eu sabia cidade de sao paulo, e campinas. minha namorada esta uma brasileira.
hybrasil: AT a share price of £1.00 this would yield 4.5%. Thats about right. I have since the start of this thread said this share is way overvalued. Stupidly I doide not follow my own advice and short it which I will now do. With falling property values this can only go one way.
vassily: No pro, just can't see why SAFE share price should be this high when compared against peers (that is, other storage companies). This has been mentioned before by others. DYOR.
Safestore share price data is direct from the London Stock Exchange
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