Primary Recommendation

Safestore - Shares in self-storage firm offer good value as trading improves

September 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.

With self-storage firm Big Yellow, 395p, our main write-up two months ago, enjoying a strong run of late, now looks a good time to buy shares in its main rival, Safestore, which for the first time in two years has also become considerably more upbeat. Like Big Yellow, Safestore has also established a very impressive track record and since 2002 its turnover has risen from Â£5.5m to almost Â£83m last year, which transformed a loss into a very healthy EBITDA of Â£45.1m. Equally impressive is that it has generated substantial gains through its lucrative portfolio of freehold and long leasehold property, which has just been re-valued at Â£640m, producing an adjusted net asset value of 194p a share. While this represents a 4% fall in the past ...

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Safestore (August 2024)

Safestore - Pays 90p dividends for every £1 invested at IPO; could be next target after LOK (June 2024)

Safestore (March 2022)

Safestore (August 2020)

Safestore (August 2019)

Safestore (April 2019)

Safestore - Self storage firm shows strong growth (August 2018)

Safestore (August 2016)

Safestore - Self storage operator enjoying strong gains in occupancy (April 2016)

Safestore - Property values stabilise (March 2010)

Safestore (October 2009)

Safestore - NAV rises 44% to 199p (March 2008)

Safestore (October 2007)

Safestore - Under-valued self storage operator (June 2007)

Safestore - Newly listed self-storage company also under-valued (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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