Brief: Shurgard Self Storage Raises FY 2024 Revenue Guidance

Shurgard Self Storage

05/11/2024 06:13

Nov 5 (Reuters) - Shurgard Self Storage Ltd  SHUR.BR :
    * HIGHLIGHTS: YTD SEPTEMBER 2024 RESULTS
    * 9M ALL STORE REVENUES: +10.8% YTD
    * 9M HIGH AVERAGE SAME STORE OCCUPANCY: 89.8%
    * YTD ADJUSTED EPRA EARNINGS: €123.5 MILLION
    * RAISE OF OUR FY 2024 REVENUE GUIDANCE
    * OUTLOOK 2024 REVISED INCLUDING LOK’NSTORE ACQUISITION
    * DELIVERING NEW CAPACITY FROM 2024 TO 2026 REPRESENTING C.
405,000 SQM
    * OUTLOOK 2024: AVERAGE EFFECTIVE INCOME TAX RATE: EXPECTED
TO
REMAIN C. 17% IN 2024
    * 2024 REVISED OUTLOOK (AT CER) INCLUDING LOK’NSTORE
ACQUISITION:
ALL STORE REVENUE GROWTH: AT LEAST 12% (VERSUS. 8% PREVIOUSLY)
    * OUTLOOK 2024: DIVIDEND: €1.17 PER SHARE FOR THE FISCAL
YEAR
    * SHURGARD SELF STORAGE LTD - DIVIDEND: €1.17 PER SHARE FOR
THE
FISCAL YEAR
    * FUTURE PLATFORM EXPANSION SECURED WITH 2024-26 PIPELINE:
C.
€1,200 MILLION OF INVESTMENT AT 8-9% RETURN AT MATURITY
    * 2024 REVISED OUTLOOK: ADJUSTED EPRA EARNINGS SEEN IN LINE
WITH
CONSENSUS PRIOR TO LOK’NSTORE ACQUISITION

Source text:  ID:nNDL42wXpH 
Further company coverage:  SHUR.BR 

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