WATCH: Stock pick — Stor-Age Property

Nesi Chetty from Momentum chose Stor-Age Property as his stock pick of the day.

It is a specialist niche company that offers rental space to the self-storage market. It has been listed for just more than two years and has about R4bn worth of assets, of which 64% of the value is in SA, he said.

“They are also the sixth-largest self-storage facility in the UK, which offers diversification and protection in terms of earnings. They are very resilient in terms of growth in this operating environment. They are offering an 8% yield and they are trying to grow their distribution at a level higher than that,” he said.