Self Storage Group ASA (, TP: NOK18.00) - Space race
Self Storage Group’s ROI on its freehold logistics properties has been 2–3x that of traditional logistics properties, as it has turned them into mini-storage sites. SSG is a real estate investment company and an asset operator renting out mini-storage units to consumers/ small companies. We expect it to remain active in M&A and grow through freehold investments in the immature Norwegian market, which should ensure solid returns. We initiate coverage with a BUY and NOK18 target price.Self Storage Group ASA is a Norway-based company engaged in the business of renting out self-storage units to both private individuals and businesses through the two concepts: OK Minilager and City Self-Storage. The Company operates more than 80 sites across Scandinavia with a total lettable area of more than 100,000 square meters.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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