Stor-Age Property REIT Ltd

SSS · JSE · Real Estate / REIT - Industrial

1,645.00ZAC+10.00 (+0.61%)

Price History

Full chart

Market Stats

Previous Close1,635.00

Open1,623.00

Day Range1,600.00 – 1,649.00

52-Week Range1,515.00 – 1,932.00

Volume408.97K

Market Cap7.91B

P/E (TTM)6.85

Forward P/E11.64

EPS2.25

Dividend Yield7.31%

Beta0.15

50-Day Avg1,598.84

200-Day Avg1,706.94

About

Stor-Age Property REIT Limited is the largest self storage property fund and most recognizable brand in SA. The portfolio consists of 108 properties across SA (63) and the UK (45) as at June 2025, providing storage to more than 55 000 customers. The combined value of the portfolio, including properties managed in our JV partnerships, was R18.5 billion (SA " R6.6 billion, UK " 500 million pounds) at 31 March 2025. The maximum lettable area, including the development pipeline and ongoing projects, exceeds 700 000m. The group employs more than 500 staff across SA and the UK. Stor-Age has been listed on the Johannesburg Stock Exchange since November 2015.

Company Details

SectorReal Estate
IndustryREIT - Industrial
CEOMr. Gavin Mark Lucas CA(SA)
Employees0
Headquarters216 Main Road, Cape Town, South Africa, 7708, South Africa
Websitehttps://www.stor-age.co.za/cape-town

Leadership

Mr. Gavin Mark Lucas CA(SA)CEO & Executive Director
Mr. Stephen Charles Lucas CA(SA), CFACFO, Financial Director & Executive Director
Mr. Steven James Horton CA(SA)Head of Property & Executive Director
Mr. Bruce AllardyceCompany Secretary

Financials

Income Statement

Currency: ZAR	2015-03-31	2016-03-31	2017-03-31	2018-03-31	2019-03-31	2020-03-31	2021-03-31	2022-03-31	2023-03-31	2024-03-31	2025-03-31	2026-03-31
Total Revenue	101.96M	61.85M	180.41M	332.23M	535.42M	703.55M	804.73M	925.28M	1.11B	1.29B	1.39B	1.45B
Growth (%)	-	-39.34%	+191.71%	+84.15%	+61.16%	+31.40%	+14.38%	+14.98%	+19.61%	+16.69%	+7.66%	+4.50%
Cost of Revenue	14.19M	13.00M	38.35M	76.92M	135.84M	178.19M	206.44M	221.28M	273.92M	317.40M	341.58M	275.93M
Gross Profit	101.96M	48.85M	142.06M	255.31M	399.58M	525.37M	598.30M	704.00M	832.82M	974.02M	1.05B	1.18B
Gross Margin	100.00%	78.99%	78.74%	76.85%	74.63%	74.67%	74.35%	76.08%	75.25%	75.42%	75.43%	81.01%
Operating Expense	42.21M	9.07M	25.00M	36.92M	47.03M	59.27M	95.68M	55.50M	159.05M	190.11M	204.93M	296.48M
Operating Income	59.75M	39.78M	117.07M	218.39M	352.54M	466.10M	502.62M	648.49M	673.76M	783.91M	843.80M	880.47M
Operating Margin	58.60%	64.33%	64.89%	65.73%	65.84%	66.25%	62.46%	70.09%	60.88%	60.70%	60.69%	60.60%
EBITDA	-14.24M	39.26M	114.33M	357.32M	149.97M	229.50M	1.42B	1.43B	974.30M	1.04B	1.33B	1.43B
EBITDA Margin	-13.97%	63.48%	63.37%	107.55%	28.01%	32.62%	176.25%	154.31%	88.03%	80.67%	96.02%	98.65%
Net Income	108.18M	56.51M	240.72M	576.73M	257.57M	104.89M	1.19B	1.02B	724.58M	706.22M	1.41B	1.12B
Net Income Margin	106.11%	91.37%	133.43%	173.59%	48.11%	14.91%	148.16%	110.21%	65.47%	54.69%	101.51%	77.09%
Interest Expense	0	5.00M	15.77M	33.09M	81.79M	116.63M	107.91M	116.84M	170.62M	235.67M	288.86M	274.93M
Interest Expense % of Total Revenue	0.00%	8.08%	8.74%	9.96%	15.28%	16.58%	13.41%	12.63%	15.42%	18.25%	20.78%	18.92%

Balance Sheet

Currency: ZAR	2015-03-31	2016-03-31	2017-03-31	2018-03-31	2019-03-31	2020-03-31	2021-03-31	2022-03-31	2023-03-31	2024-03-31	2025-03-31	2026-03-31
Total Assets	1.22B	1.59B	2.28B	4.58B	7.03B	7.69B	8.50B	10.51B	12.06B	13.11B	13.88B	14.32B
Total Liabilities	1.06B	213.09M	394.29M	1.09B	2.40B	3.09B	2.84B	3.86B	4.86B	5.52B	5.33B	4.92B
Total Equity	161.09M	1.38B	1.89B	3.47B	4.60B	4.57B	5.62B	6.60B	7.14B	7.53B	8.47B	9.32B
Cash	2.19M	9.86M	8.03M	21.82M	259.57M	76.35M	171.07M	222.33M	355.53M	308.89M	336.93M	367.40M
Total Debt	774.58M	132.48M	258.97M	823.06M	1.96B	2.55B	2.30B	3.03B	3.90B	4.42B	4.72B	4.30B
Net Debt	772.39M	122.62M	250.94M	801.23M	1.70B	2.47B	2.13B	2.81B	3.54B	4.11B	4.38B	3.94B

Cash Flow

Currency: ZAR	2015-03-31	2016-03-31	2017-03-31	2018-03-31	2019-03-31	2020-03-31	2021-03-31	2022-03-31	2023-03-31	2024-03-31	2025-03-31	2026-03-31
Operating Cash Flow	6.39M	70.67M	11.42M	-21.57M	-14.27M	5.43M	58.21M	-39.91M	509.70M	573.28M	-27.05M	631.87M
Investing Cash Flow	-1.07B	-1.58B	-534.04M	-1.28B	-734.16M	-475.50M	-178.41M	-1.22B	-231.73M	-304.51M	-100.43M	-203.44M
Financing Cash Flow	1.07B	1.52B	520.79M	1.33B	983.23M	270.67M	1.23B	305.82M	-243.79M	-323.56M	168.55M	-392.30M
Capital Expenditure	0	106.09M	2.02M	4.63M	7.12M	6.35M	15.16M	9.90M	9.90M	8.61M	4.65M	4.30M
Free Cash Flow	6.39M	-35.42M	9.40M	-26.19M	-21.39M	-922.00K	43.05M	-49.82M	509.70M	564.67M	-31.70M	627.56M
Dividends Paid	94.72M	94.72M	94.72M	209.22M	324.51M	430.45M	460.49M	480.58M	549.61M	571.88M	548.35M	550.35M
FCF to OCF	100.00%	-50.13%	82.32%	121.46%	149.85%	-16.98%	73.96%	124.82%	100.00%	98.50%	117.19%	99.32%
Dividend Paid to FCF	1483.13%	-267.38%	1007.31%	-798.77%	-1517.13%	-46686.77%	1069.67%	-964.72%	107.83%	101.28%	-1729.87%	87.70%

Key Statistics & Ratios

Market Cap7.91B

Enterprise Value12.04B

Trailing P/E6.85

Forward P/E11.64

Price / Sales5.44

Price / Book0.87

EPS2.25

Book Value18.24

Revenue (TTM)1.45B

Gross Profit (TTM)1.10B

EBITDA864.45M

Profit Margin77.09%

Operating Margin57.33%

Return on Equity12.56%

Return on Assets3.80%

Shares Outstanding512.76M

Shares Float488.93M

Beta0.15

Dividend Yield7.31%

Dividend Rate1.13

Payout Ratio50.27%

Dividends

20231×

58.09Jul 5, 2023

20222×

60.05Nov 30, 202255.30Jul 6, 2022

20212×

56.60Dec 1, 202154.08Jun 30, 2021

20202×

52.00Dec 2, 202057.16Jul 8, 2020

20192×

54.89Dec 4, 201955.38Jul 3, 2019

20182×

51.30Dec 5, 201850.81Jul 4, 2018

20172×

47.02Dec 6, 201745.01Jul 5, 2017

20162×

43.04Dec 7, 201630.07Jun 27, 2016