STELLAR RESULTS
Stor-Age raises dividend after steady growth
Specialised real estate investment trust (Reit), Stor-Age grew its dividend 10% in the year to March, following a strong trading performance across its portfolio and the acquisition of Storage RSA in February. Stor-Age, which listed in November 2015, is SA’s largest owner of self-storage facilities in SA, which it rents out to commercial and residential clients. The firm has quickly become a reliable specialist investment, according to analysts. "Since listing in November 2015, Stor-Age has outperformed the Reit sector by some 30%, conforming with the out-performance that self-storage plays have demonstrated globally," said Chris Logan of Opportune Investments. "Self-storage Reits have demonstrated a remarkable ability to consistently grow revenue at a faster rate than expenses and derive value from mergers and acquisitions." CEO Gavin Lucas said Stor-Age had met its pre-listing goals and was on track to own 60 properties across SA’s major cities by 2020. "We have today posted excel...
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