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
$1.20 20 Nov 2024	-0.020 OPEN $1.23	-1.64% HIGH $1.23	710,293 LOW $1.20

LAST PRICE

CHANGE +/-

CHANGE %

VOLUME

$1.20

20 Nov
2024

-0.020

OPEN

$1.23

-1.64%

HIGH

$1.23

710,293

LOW

$1.20

TARGET

$1.417

18.1% 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

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

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	2023	2024
EPS Basic	xxx	10.5
DPS All	xxx	6.0
Sales/Revenue	xxx	221.7 M
Book Value Per Share	xxx	161.1
Net Operating Cash Flow	xxx	73.8 M
Net Profit Margin	xxx	62.32 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title	2023	2024
Return on Capital Employed	xxx	11.62 %
Return on Invested Capital	xxx	7.99 %
Return on Assets	xxx	7.38 %
Return on Equity	xxx	11.62 %
Return on Total Capital	xxx	6.42 %
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	2023	2024
Short-Term Debt	xxx	1 M
Long Term Debt	xxx	994 M
Total Debt	xxx	995 M
Goodwill - Gross	xxx	33 M
Cash & Equivalents - Generic	xxx	192 M
Price To Book Value	xxx	0.72

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title	2023	2024
Capex	xxx	7.5 M
Capex % of Sales	xxx	3.40 %
Cost of Goods Sold	xxx	88 M
Selling, General & Admin. Exp & Other	xxx	20 M
Research & Development	xxx	-
Investments - Total	xxx	2,906 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
EXTRA COVERAGE

EXPERT VIEWS

Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

BROKER	DATE	RATING	RECOMMENDATION	TARGET PRICE	% TO REACH TARGET	COMMENTARY
Shaw and Partners	xx/xx/xxxx	1	xxx	$xx.xx	xx.xx%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Citi	13/11/2024	1	Buy	$1.40	16.67%	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%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Shaw and Partners

xx/xx/xxxx

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Citi

13/11/2024

Buy

$1.40

16.67%

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

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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EXTRA COVERAGE

Display All Commentary

No. Of Recommendations

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%	Broker commentary and detailed analysis is available for Full Members Only. Login above or Get a Free Trial
Jarden	20/08/2024	3	Neutral	$1.30	8.33%	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.

BROKER

DATE

RATING

RECOMMENDATION

TARGET PRICE

% TO REACH TARGET

COMMENTARY

Moelis

xx/xx/xxxx

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Jarden

20/08/2024

Neutral

$1.30

8.33%

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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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

	Yield	Yield on investment
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ABACUS STORAGE KING (ASK)
Share Price Analysis and Chart