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: 8.96
Index: ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$1.365

15 Apr
2026

0.005

OPEN

$1.39

0.37%

HIGH

$1.40

1,623,769

LOW

$1.36

TARGET
$1.55 13.6% upside
Franking for last dividend paid out: 25%
OTHER COMPANIES IN THE SAME SECTOR
ABG . AOF . ARF . BWP . CDP . CDP . CHC . CIP . CLW . COF . CQE . CQR . DGT . DXC . DXI . DXS . GDF . GDI . HCW . HDN . NSR . PLG . REP . RFF . RGN . SCG . VCX . WOT . WPR .
FNARENA'S MARKET CONSENSUS FORECASTS
ASK: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 22.0 6.8 xxx
DPS (cps) xxx 6.2 6.2 xxx
EPS Growth xxx 100.0% - 69.1% xxx
DPS Growth xxx 3.3% 0.0% xxx
PE Ratio xxx N/A 20.1 xxx
Dividend Yield xxx N/A 4.5% xxx
Div Pay Ratio(%) xxx 28.2% 91.2% xxx

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

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 4.54

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: 30/12 - ex-div 3.1c (franking 25%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202320242025
EPS Basic xxxxxx22.0
DPS All xxxxxx6.2
Sales/Revenue xxxxxx247.3 M
Book Value Per Share xxxxxx177.3
Net Operating Cash Flow xxxxxx88.7 M
Net Profit Margin xxxxxx116.90 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202320242025
Return on Capital Employed xxxxxx13.00 %
Return on Invested Capital xxxxxx8.78 %
Return on Assets xxxxxx8.44 %
Return on Equity xxxxxx13.00 %
Return on Total Capital xxxxxx3.72 %
Free Cash Flow ex dividends xxxxxx0.1 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 202320242025
Short-Term Debt xxxxxx1 M
Long Term Debt xxxxxx1,146 M
Total Debt xxxxxx1,147 M
Goodwill - Gross xxxxxx-
Cash & Equivalents - Generic xxxxxx121 M
Price To Book Value xxxxxx0.87

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202320242025
Capex xxxxxx4.9 M
Capex % of Sales xxxxxx1.98 %
Cost of Goods Sold xxxxxx102 M
Selling, General & Admin. Exp & Other xxxxxx23 M
Research & Development xxxxxx-
Investments - Total xxxxxx3,338 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

0.3

No. Of Recommendations

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

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

16/02/2026

3

Neutral

$1.50

9.89%

On first inspection, Abacus Storage King announced 1H26 results which were in line, Citi notes, with a DPS of 3.1c and FY26 funds from operations guidance of 6.2c to 6.9c per share.

The analyst views self storage as an "attractive" sub sector, with Abacus trading around a -14% discount to NTA of $1.76 per share, and this is despite acquisition interest in the domestic sub-sector.

The REIT continued to grow its size via acquisitions and development, with -$58.1m invested in two operating stores and two development sites, the broker explains.

Gearing stands at 31.9% with funding capacity over $500m. Neutral. Target $1.50.

FORECAST
Citi forecasts a full year FY26 EPS of 6.80 cents.
Citi forecasts a full year FY27 EPS of 7.10 cents.

Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

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

1

xxxxxxx xx xxx xxxx xxxx

$xx.xx

xx.xx%

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Jarden

20/02/2026

2

Downgrade to Overweight from Buy

$1.60

17.22%

After further analysis of Abacus Storage King's interim results, Jarden lowers its target to $1.60 from $1.65 and maintains an Overweight rating.

A summary of the broker's initial research follows.

On first inspection, Jarden notes Abacus Storage King' 1H26 result was slightly softer than expected at the earnings line.

Funds from operations came in at 3.12c versus 3.4c for Jarden and 3.3c consensus, with established portfolio RevPAM growth of 1.5% considered weak relative to portfolio quality, while occupancy eased to 90.5% and WACR to 5.42%.

FY26 distribution guidance was maintained at 6.2c, in line with both Jarden and consensus expectations.

Jarden highlights potential investor focus on funding costs and internalisation progress, amid shifting rate expectations and sector M&A activity.

FORECAST
Jarden forecasts a full year FY26 dividend of 6.20 cents and EPS of 6.50 cents.
Jarden forecasts a full year FY27 dividend of 6.30 cents and EPS of 6.60 cents.

Shaw and Partners

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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