We’re currently in the midst of South Africa’s weakest economic environment in a decade, massive companies are unravelling at the seams, and the latest GDP numbers are anything but pretty.

Hey, who’s keen for some good news? Back in 2015, Stor-Age became the first and only JSE-listed self-storage company.

Since then, they’ve only gone from strength to strength, and the company is set to grow its dividends at three times the level of its struggling peers in the JSE’s real estate sector over the next three years.

BusinessLIVE reports that Stor-age now owns 65 properties worth a total of R6 billion:

Of this, 49 of them worth R4bn are located in SA and 16 valued at R2bn situated in the UK. The company grew its dividend 9.05% in the year to March to 106.68c, while most other funds struggled to breach 3% growth if they achieved any growth at all.

Customers use self-storage assets throughout different economic cycles, especially in bad times, when they have to downsize and need to store goods temporarily, CEO Gavin Lucas said at a financial results presentation in Sandton…

Head of listed property funds at Stanlib, Keillen Ndlovu, said Stor-Age was “a market outperformer that operates in a niche market”.

When you take a look at the Stor-Age share price, since its listing in late 2017, the rise and rise is clear to see:

CEO Gavin Lucas is clearly stoked with the latest set of financials:

“We are in a sweet position right now being the only listed storage company in SA and having achieved significant scale since listing in November 2015. We are now able to be cautious when we make acquisitions but continue on a healthy growth path. We can focus on providing consistent dividend growth which is attractive especially while larger diversified funds with mature assets find the going tougher,” he said.

It’s easy enough to understand why Stor-Age has performed so well when you use their services. They have locations right around the country, including in close proximity to city centres, and offer a range of short and long-term contracts to suit any and all needs.

Added bonus – they also offer 2oceansvibe readers 50% off their first month’s storage.

Here’s hoping your other investments fared as well.

[source:businesslive]