Safestore Holdings Q3 revenue rises
Safestore Holdings Q3 revenue rises
Overview
UK self-storage operator's Q3 group revenue rose 4.1% at constant exchange rates
Like-for-like revenue up 1.9%, with UK and expansion markets offsetting Paris decline
Company expects FY 2026 adjusted EPS in lower half of analyst forecast range
Outlook
Safestore expects FY 2026 Adjusted Diluted EPRA EPS in the lower half of analyst forecast range
Company says FY 2026 store openings remain unchanged
Safestore is reviewing 2027-28 UK pipeline phasing due to current macroeconomic and interest rate environment
Result Drivers
EXPANSION MARKETS - Strong revenue growth in Spain, the Netherlands and Belgium, driven by both occupancy and rate increases
PARIS PERFORMANCE - Like-for-like Paris revenue declined due to transfer of enquiries to new stores and lower occupancy in large units amid subdued economic backdrop
UK GROWTH DRIVERS - Like-for-like UK revenue up 1.9%, supported by domestic customer demand and unit partitioning
Company press release: ID:nRSC1842Ta
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue |
| GBP 62.20 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 3 "hold" and 2 "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 Safestore Holdings PLC is GBp700.00, about 21.7% above its September 2 closing price of GBp575.00
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 three months ago
Reuters Recommended Reads
Sept 1 - UK economic outlook improves but firms wary of investment, BCC says
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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.)