ABACUS STORAGE KING (ASK)
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ASK - ABACUS STORAGE KING

FNArena Sector : REITs
Year End: June
GICS Industry Group : Real Estate
Debt/EBITDA: 8.39
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.185

21 Nov
2024

-0.015

OPEN

$1.22

-1.25%

HIGH

$1.22

956,640

LOW

$1.18

TARGET
$1.417 19.5% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DXC . DXI . DXS . ECF . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . TGP . URW . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
ASK: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 10.5 6.0 xxx
DPS (cps) xxx 6.0 6.3 xxx
EPS Growth xxx 100.0% - 43.0% xxx
DPS Growth xxx N/A 5.0% xxx
PE Ratio xxx N/A 19.8 xxx
Dividend Yield xxx N/A 5.3% xxx
Div Pay Ratio(%) xxx 57.0% 105.0% xxx

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.06

Estimated Dividend Growth
(Average Of Past Three Years)

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 28/12 - ex-div 3c (franking 0%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 20232024
EPS Basic xxx10.5
DPS All xxx6.0
Sales/Revenue xxx221.7 M
Book Value Per Share xxx161.1
Net Operating Cash Flow xxx73.8 M
Net Profit Margin xxx62.32 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 20232024
Return on Capital Employed xxx11.62 %
Return on Invested Capital xxx7.99 %
Return on Assets xxx7.38 %
Return on Equity xxx11.62 %
Return on Total Capital xxx6.42 %
Free Cash Flow ex dividends xxx-27.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 20232024
Short-Term Debt xxx1 M
Long Term Debt xxx994 M
Total Debt xxx995 M
Goodwill - Gross xxx33 M
Cash & Equivalents - Generic xxx192 M
Price To Book Value xxx0.72

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 20232024
Capex xxx7.5 M
Capex % of Sales xxx3.40 %
Cost of Goods Sold xxx88 M
Selling, General & Admin. Exp & Other xxx20 M
Research & Development xxx-
Investments - Total xxx2,906 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Shaw and Partners

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

13/11/2024

1

Buy

$1.40

18.14%

Self-storage remains a relatively defensive, growing sub-sector with stable occupancy and continued rental growth, reiterates Citi after reviewing 1Q results for Abacus Storage King.

Management raised FY25 distribution guidance to 6.2cpu from 6.1cpu, noting 1Q trading conditions were robust with 91% occupancy in the established portfolio. Developments opened in FY24 also continue to lease up strongly and beat internal forecasts, notes the broker.

Target $1.40. Buy.

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Moelis

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Jarden

20/08/2024

3

Neutral

$1.30

9.70%

Abacus Storage King has provided a solid operational update, Jarden suggests, with funds from operations underpinned by strong performance across portfolios while the overall sector continues to benefit from structural tailwinds.

Underlying FY25 guidance looks a little soft but the broker believes guidance could prove conservative. The capital structure is in good shape and should provide the REIT with future growth optionality in the medium term.

Trading at a -21% discount to updated net tangible asset value, but with a relatively low yield, Jarden sees the risk-reward as fairly balanced. Neutral and $1.30 target retained.

FORECAST
Jarden forecasts a full year FY25 EPS of 6.40 cents.
Jarden forecasts a full year FY26 EPS of 6.30 cents.
Access Extra Coverage Research History >

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