Canada's StorageVault Q1 net loss widens

Storagevault Canada

22/04/2026 22:30

Overview

Canada self-storage operator's net loss widened to $13.5 million from $11.4 million for Q1 2025

Q1 revenue rose 11.7% yr/yr, net operating income up 10.1%

AFFO per share increased 8%, reflecting growth in cash flow generation

Company increased Q2 2026 dividend by 0.5%

Outlook

Storagevault expects growth driven by acquisitions, organic performance, and targeted expansions

Company aims to leverage scale and operational efficiencies to maximize value

Storagevault did not provide specific financial guidance for the current or future periods

Result Drivers

SAME STORE GROWTH - Company said same store revenue rose 6.6% and NOI increased 5.4%, driven by focus on customer experience, disciplined pricing and higher occupancy

ACQUISITIONS - Management said value-adding acquisitions contributed to portfolio resilience and growth

NEW STORE CONTRIBUTION - Revenue from new self storage locations increased 64.9%, supporting overall revenue growth

NET LOSS - Q1 net loss impacted by depreciation and amortization, stock based compensation, interest accretion on convertible debentures, realized and unrealized loss on derivative financial instruments, and deferred tax recovery

Company press release: ID:nGNX86V7H0

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
C$85.20 mln
Q1 Net Income
-C$13.50 mln
Q1 FFO
C$16.30 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the real estate rental, development & operations peer group is "buy"

Wall Street's median 12-month price target for Storagevault Canada Inc is C$6.00, about 35.1% above its April 21 closing price of C$4.44

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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.)