Stor-Age Property REIT Management

Management criteria checks 3/4

We currently do not have sufficient information about the CEO.

Key information

Gavin Lucas

Chief executive officer

R10.1m

Total compensation

CEO salary percentage	33.6%
CEO tenure	9.5yrs
CEO ownership	1.6%
Management average tenure	no data
Board average tenure	5.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Gavin Lucas's remuneration changed compared to Stor-Age Property REIT's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	R1b
Jun 30 2024	n/a	n/a	R957m
Mar 31 2024	R10m	R3m	R706m
Dec 31 2023	n/a	n/a	R621m
Sep 30 2023	n/a	n/a	R537m
Jun 30 2023	n/a	n/a	R631m
Mar 31 2023	R10m	R3m	R725m
Dec 31 2022	n/a	n/a	R949m
Sep 30 2022	n/a	n/a	R1b
Jun 30 2022	n/a	n/a	R1b
Mar 31 2022	R6m	R3m	R1b
Dec 31 2021	n/a	n/a	R995m
Sep 30 2021	n/a	n/a	R970m
Jun 30 2021	n/a	n/a	R1b
Mar 31 2021	R5m	R2m	R1b
Dec 31 2020	n/a	n/a	R838m
Sep 30 2020	n/a	n/a	R484m
Jun 30 2020	n/a	n/a	R294m
Mar 31 2020	R2m	R2m	R105m
Dec 31 2019	n/a	n/a	R246m
Sep 30 2019	n/a	n/a	R387m
Jun 30 2019	n/a	n/a	R322m
Mar 31 2019	R2m	R2m	R258m
Dec 31 2018	n/a	n/a	R405m
Sep 30 2018	n/a	n/a	R552m
Jun 30 2018	n/a	n/a	R564m
Mar 31 2018	R1m	R1m	R577m

Compensation vs Market: Gavin's total compensation ($USD557.76K) is below average for companies of similar size in the ZA market ($USD1.01M).

Compensation vs Earnings: Gavin's compensation has been consistent with company performance over the past year.

CEO

Gavin Lucas

9.5yrs

Tenure

R10,102,000

Compensation

Mr. Gavin Mark Lucas, CA(SA) serves as the Chief Executive Officer at Stor-Age Property REIT Limited and has been its Executive Director since May 25, 2015. Mr. Lucas founded the Stor-Age Group in 2005 and...

Board Members

Name	Position	Tenure	Compensation	Ownership
Gavin Lucas	CEO & Executive Director	9.5yrs	R10.10m	1.6% ZAR 120.1m
Stephen Lucas	CFO, Financial Director & Executive Director	9.5yrs	R10.10m	no data
Steven Horton	Head of Property & Executive Director	9.5yrs	R10.10m	0.76% ZAR 56.9m
Mntungwa P. Morojele	Independent Non-Executive Director	4.2yrs	R546.00k	no data
Abubaker Varachhia	Independent Non-Executive Director	3.8yrs	R504.00k	no data
Graham Blackshaw	Non-Executive Chairman	9.2yrs	R840.00k	0.18% ZAR 13.8m
Alan Menigo	Independent Non-Executive Director	1.8yrs	R441.00k	no data
Akua Koranteng	Independent Non-Executive Director	less than a year	no data	no data
Kelly-Maree de Kock	Independent Non Executive Director	6.5yrs	R583.00k	0.0038% ZAR 286.5k
John A. Chapman	Lead Independent Non-Executive Director	4.8yrs	R441.00k	0.12% ZAR 8.9m

5.7yrs

Average Tenure

65yo

Average Age

Experienced Board: SSS's board of directors are considered experienced (5.7 years average tenure).

Stor-Age Property REIT Management

Management criteria checks 3/4

Key information

Recent management updates

Head of Property & Executive Director exercised options to buy R8.3m worth of stock.

Stor-Age Property REIT Limited Appoints Akua Koranteng as an Independent Non- Executive Director, with Effect from 15 May 2024

Stor-Age Property REIT Limited Announces Board Changes

Non-Executive Chairman recently sold R126k worth of stock

Stor-Age Property REIT Limited Announces the Resignation of Phakama Mbikwana as Non-Executive Director and Member of the Audit and Risk Committee, Chair of the Social and Ethics Committee, Effective from 31 March 2024

Insufficient new directors

Recent updates

First half dividend reduced to R0.57

Head of Property & Executive Director exercised options to buy R8.3m worth of stock.

Final dividend reduced to R0.57

Full year 2024 earnings released: EPS: R1.49 (vs R1.53 in FY 2023)

Stor-Age Property REIT Limited Declares Gross Final Dividend for the Six Months Ended March 31, 2024, Payable July 8, 2024

New minor risk - Financial data availability

Stor-Age Property REIT Limited Appoints Akua Koranteng as an Independent Non- Executive Director, with Effect from 15 May 2024

Stor-Age Property REIT Limited Announces Board Changes

Non-Executive Chairman recently sold R126k worth of stock

Stor-Age Property REIT Limited Announces the Resignation of Phakama Mbikwana as Non-Executive Director and Member of the Audit and Risk Committee, Chair of the Social and Ethics Committee, Effective from 31 March 2024

Stor-Age Property REIT Limited to Report First Half, 2025 Results on Nov 12, 2024

Insufficient new directors

Key Executive recently sold R784k worth of stock

Upcoming dividend of R0.61 per share at 9.2% yield

First half 2024 earnings released: EPS: R0.76 (vs R1.16 in 1H 2023)

Stor-Age Property REIT Limited Announces Gross Interim Dividend for the Six Months Ended 30 September 2023, Payable on 4 December 2023

Stor-Age Property REIT Limited to Report Fiscal Year 2024 Final Results on Jun 18, 2024

Upcoming dividend of R0.58 per share at 9.6% yield

New minor risk - Profit margin trend

Full year 2023 earnings released: EPS: R1.53 (vs R2.32 in FY 2022)

Lead Independent Non-Executive Director recently bought R495k worth of stock

Now 21% undervalued after recent price drop

Company Secretary recently bought R549k worth of stock

Catalyst Fund Managers SA (Pty) Ltd on behalf of its client acquired an unknown stake in Stor-Age Property REIT Limited (JSE:SSS).

Stor-Age Property REIT Limited Appoints Alan Menigo as an Independent Non-Executive Director, Effective January 23, 2023

Key Executive recently sold R2.7m worth of stock

Independent Non Executive Director recently bought R116k worth of stock

Upcoming dividend of R0.60 per share

First half 2023 earnings released: EPS: R1.16 (vs R0.92 in 1H 2022)

Company Secretary recently bought R523k worth of stock

Stor-Age Property REIT Limited to Report Fiscal Year 2023 Results on Jun 19, 2023

Stor-Age Property REIT Limited, Annual General Meeting, Sep 01, 2022

Upcoming dividend of R0.55 per share

Stor-Age Property REIT Limited Declares Gross Final Dividend for the Six Months Ended March 31, 2022, Payable July 11, 2022

Full year 2022 earnings released: EPS: R2.32 (vs R2.83 in FY 2021)

m MandG Investment Managers (Pty) Limited on behalf of underlying clients acquired unknown minority stake in Stor-Age Property REIT Limited (JSE:SSS).

Stor-Age Property REIT Limited to Report Q2, 2023 Results on Nov 15, 2022

Stor-Age Property REIT Limited to Report Q2, 2023 Results on Nov 15, 2022

Stor-Age Property REIT Limited has completed a Follow-on Equity Offering in the amount of ZAR 574.999997 million.

Upcoming dividend of R0.57 per share

First half 2022 earnings released: EPS R0.92 (vs R1.49 in 1H 2021)

Stor-Age Property REIT Limited (JSE:SSS) agreed to acquire Two Trading Self Storage Properties in Cape Town for approximately ZAR 110 million.

Head of Property & Executive Director recently sold R2.4m worth of stock

Public Investment Corporation Limited acquired a 10.695% stake in Stor-Age Property REIT Limited (JSE:SSS).

Upcoming dividend of R0.54 per share

Full year 2021 earnings released: EPS R2.83 (vs R0.27 in FY 2020)

CEO & Executive Director recently sold R343m worth of stock

CEO & Executive Director recently sold R594k worth of stock

Key Executive recently sold R101k worth of stock

CEO & Executive Director recently sold R2.0m worth of stock

New 90-day high: R13.65

First half 2021 earnings released: EPS R1.49

New 90-day high: R13.01

Stor-Age Property REIT Limited Appoints M P R Morojele to the Remuneration Committee

New 90-day low: R11.90

Public Investment Corporation Limited acquired 5.41% stake in Stor-Age Property REIT Limited (JSE:SSS).