Lok’nStore has reported another robust set of results with a 28% increase in NAV to 386p reflecting the strength of the self-storage market, the successful opening of landmark, new build stores in good locations and valuation assumptions now more in line with peers. Prices and occupancy continue to rise and the group has plans to open new stores that will add 14% to available space, underpinning future growth prospects. We have upgraded our NAV based target price to 478p (29% upside).
17 Oct 2016
NAV up 28%
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NAV up 28%
Lok'nStore Group plc (LOK:LON) | 839 83.9 1.2% | Mkt Cap: 276.0m
- Published:
17 Oct 2016 -
Author:
Guy Hewett -
Pages:
12
Lok’nStore has reported another robust set of results with a 28% increase in NAV to 386p reflecting the strength of the self-storage market, the successful opening of landmark, new build stores in good locations and valuation assumptions now more in line with peers. Prices and occupancy continue to rise and the group has plans to open new stores that will add 14% to available space, underpinning future growth prospects. We have upgraded our NAV based target price to 478p (29% upside).