Stor-Age races past property rivals
The JSE's only listed personal storage landlord has grown its dividend 9.05% despite a weak SA environment
SA’s only listed self-storage property fund has defied SA’s weakest economic environment in a decade and is expecting to grow its dividends at three times the level of its struggling peers in the JSE’s real estate sector over the next 36 months, as more struggling South Africans look to downscale and place their goods in safekeeping.
Stor-Age Property Reit, whose largest investors include Stanlib and Sanlam, has become a stand-out investment for property fund managers since it listed in November 2015. It has managed to grow its dividend at inflation beating rates, as well as expanding into the UK and trebling its asset base’s value.