Business Day: Stor-Age capitalisation soars

Stor-Age Property Reit, the only specialised owner of personal storage assets on the JSE, has tripled its market capitalisation to about R3.5bn over the past two years. Stor-Age grew its dividend per share 9.25% to 47.02c in the six months to September, financial results showed, one of the strongest performances from listed property funds invested primarily in SA. The group is expecting to achieve double-digit dividend growth of between 11% and 12% for its March 2018 financial year, having expanded into the UK personal storage market, said CEO Gavin Lucas.

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