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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Secondary Recommendation

Lok'nStore - Extremely undervalued self-storage operator

January 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • LOK
  • Price:
  • 78p
Like other self storage firms, AIM-listed minnow Lok’nStore has taken a battering during the credit crunch with the shares falling from a peak of  291p in May '07 to a low point of 34p in March ‘09. But what has perplexed chief executive Andrew Jacobs is that it has not experienced the same bounce-back enjoyed by its larger rivals, with its shares inexplicably still trading at a 62% discount to its net asset value (NAV), while Big Yellow (BYG; 370p) only trades at an 15% discount. The irony is that Lok’nStore is now punching well above its weight with trading having made a partial recovery whilst its net debt is expected to reduce sharply thanks to ultra low interest rates. Jacobs, who we met with over the month, believes that ...

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Lok 'n Store - 1110p cash offer from Shurgard (June 2024)
Lok 'n Store (April 2024)
Lok ‘n Store - Self storage firm to increase space by 40% (January 2024)
Lok 'n Store (August 2023)
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Lok n Store - Record pipeline of new sites to deliver 36% more self-storage space (August 2020)
Lok 'n Store (February 2020)
Lok 'n Store - Shares soar to new high of 645p (December 2019)
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Lok'nStore - Largest pipeline of new openings in its history (April 2019)
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Lok ‘n’ Store - NAV growth beats forecasts by a country mile (December 2016)
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Lok'n'Store - Pretax profit up 35% in H1 (December 2015)
Lok 'n' Store - Shares close in on £3 (July 2015)
Lok'n'Store - Finncap has 293p price target (March 2015)
Lok 'n' Store (December 2014)
Lok 'nStore - Occupancy rises 9.6% in H2 (August 2014)
Lok'nStore - Self storage group sees sharp rise in prices and occupancy (June 2014)
Lok 'n' Store - Focus on cash yields dividend hike (January 2012)
Lok 'n Store - 2010 NAP has gained 76% (January 2011)
Lok'n Store - Shares spike to over £1 (June 2010)
Lok'n'Store - Occupancy and prices rising again (March 2010)
Lok 'n' Store - Falls through stop-loss (November 2007)
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Lok 'n' Store - Shares hit new high (June 2007)
Lok 'n' Store - Kingston sale makes £10m (May 2007)
Lok 'n' Store - Very under-valued self-storage operator (April 2007)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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