Stor-Age Property REIT (SSS.JO)

Real Estate · JSE · South Africa

R16.37-5.87% today

Fundamentals

Market capR8.48B

P/E ratio7.4

Dividend yield6.88%

Revenue growth (YoY)+2.2%

Profit margin77.1%

Return on equity12.6%

52-week rangeR15.35 to R41.90

Valuation and ratings

DCF fair valueR36.48

Upside to fair value+122.8%

Analyst target (mean)R17.69

Analyst rangeR17.50 to R17.87

Analysts covering2

Consensus viewhold

Moat score72/100

Overall rating83/100, Strong Buy

Stor-Age Property REIT trades at R16.37, which is 123% below the R36.48 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.

Our moat model scores it 72 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.

It changes hands at 7.4 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.

About Stor-Age Property REIT

Stor-Age Property REIT Limited is the largest self storage property fund and most recognizable brand in SA. The portfolio consists of 108 properties across SA (63) and the UK (45) as at June 2025, providing storage to more than 55 000 customers. The combined value of the portfolio, including properties managed in our JV partnerships, was R18.5 billion (SA R6.6 billion, UK 500 million pounds) at 31 March 2025. The maximum lettable area, including the development pipeline and ongoing projects, exceeds 700 000m. The group employs more than 500 staff across SA and the UK. Stor-Age has been listed on the Johannesburg Stock Exchange since November 2015.

Industry: REIT - IndustrialHQ: South Africa

SSS.JO passes 6 of our 30 screens today

Each screen prints the exact criteria it used, and the circumstances in which it is wrong.

Undervalued on cash flow

Companies trading at least 25% below what our discounted cash flow model says the future cash is worth today.

Quality at a fair price

Good businesses, not cheap ones. A wide moat and a strong rating, at a multiple that has not run away.

Deep value, with a pulse

A very low earnings multiple is usually a warning. This screen demands a low multiple AND evidence the business still works.

Dividend powerhouses

Yields above 3%, filtered for the one thing yield screens never check: whether the company can actually afford it.

High margin machines

Companies that keep an unusually large share of every pound they sell. That is pricing power made visible.

Low volatility defensives

Companies that move less than the market and pay you to wait. The holdings that let you sleep, and let you hold everything else.

Common questions

Is Stor-Age Property REIT (SSS.JO) undervalued?

Against our discounted cash flow estimate of R36.48, SSS.JO at R16.37 is 123% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.

What is SSS.JO's P/E ratio?

SSS.JO trades at 7.4 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.

The full research page for SSS.JO, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.

Open SSS.JO in the app Free guides and screens

Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.