Self-storage firm Big Yellow's Q3 revenue rises 2%, occupancy improves

Big Yellow

20/01/2026 07:09

Overview

UK self-storage leader's Q3 revenue grew 2% yr/yr

Company reported improvement in occupancy performance starting November

Adjusted EPS for nine months to December up 2%, full year growth expected similar

Outlook

Big Yellow expects full-year adjusted EPS growth of approximately 2%

Company forecasts like-for-like operating expenses to rise by 2-3%

Big Yellow plans to open two more stores before year-end and four next year

Result Drivers

OCCUPANCY IMPROVEMENT - Co saw improved occupancy performance starting November, driven by increased demand from domestic and business customers

NEW STORE PERFORMANCE - Recently opened stores in Staines and Queensbury performing well, contributing to occupancy

DIGITAL MARKETING INVESTMENT - Co investing operating cost savings into digital marketing to drive demand and occupancy

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
GBP 52.30 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy"

Wall Street's median 12-month price target for Big Yellow Group PLC is GBP1,200.00, about 12.4% above its January 19 closing price of GBP1,068.00

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release: ID:nRST4950Pa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)