UHAL

**bdcmm** Mon Feb 28, 2005 5:51 pm

UHAL
Blast,

I know you already knew this stock. Although its price has run up a lot, it still has very low price/revenue ration (<0.5), and price/EBITA ratio (at around 3 to 4). The company has a lot of real estate too, and earns $3+ a year with depreciation expensed in. Self-storage and moving business is stable too. At $45 per share, it is still very attractive as a REIT stock.

What's your opinion on this stock? What concerns do you have on this stock?

Thanks!

**wonton** Mon Feb 28, 2005 7:51 pm

...

**blast_investor** Tue Mar 01, 2005 1:32 am

I do not see anywhere mentioning UHAL is REIT.

It is probably just reguar stock with decent dividend rate.

This stock has multiple business, insurance, storage, and moving, etc.
Based on its free cashflow, its current price is pretty fairly valued.

The real trick is to determine the real estate value per share behind this stock. Many months before, I looked into its SEC filing and was troubled by its SAC entities and unsure ownership UHAL had on SAC real estate holdings.

SAC real estate holdings are still the concern for me. If UHAL has those ownership, there is pretty good upside shot there.

Right now the price is up a lot, I do not see much more upside from here unless SAC real estate value can be unlocked back into UHAL.

Overall, I think it is pretty decent stock. It has good upside shot. I have not studied this that much recently, and I would do more study, especially SAC issue if I want to consider to invest into it.