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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Safestore

October 2009

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:
  • SAFE
  • Price:
  • 159p
Q3 results from self-storage firm Safestore were well received, lifting the price to a new high of 159p. Revenues for the nine months to 31 July rose 1.7%, driven by an increase in occupancy of 110,554 sq. ft. and a 5.3% increase in the average rental rate to £25.08. Management also made encouraging comments about current trading with increasing levels of enquiries and new lets while levels of vacates are low. New stores are trading encouragingly, with two opened in the quarter taking the total for the year to four. Broker Collins Stewart has increased its price target to 164p. Hold for more. ...

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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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