Overview
UK self-storage group's Q1 revenue rose 7.9% yr/yr
Company opened three new stores, expanding MLA by 173,500 sq ft
Like-for-like group revenue in CER up 4.2%
Outlook
Safestore plans to open five more stores by end of FY 2026
Company sees continued revenue growth through rate and occupancy management
Result Drivers
NEW STORE OPENINGS - Safestore opened three new stores, adding 173,500 sq ft of MLA, contributing to revenue growth
EXPANSION MARKETS - Revenue in expansion markets rose 28.6%, driven by new openings and increased occupancy
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
GBP 61.20 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 4 "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 GBp855.00, about 7.9% above its February 18 closing price of GBp792.50
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 17 three months ago
Press Release: ID:nRSS5749Ta
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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.)
