Canada's StorageVault Q2 revenue rises, co completes the acquisition of two stores

Storagevault Canada

22/07/2026 22:14

    

    Overview
  
Canada self-storage operator's Q2 revenue rose to $9.1 mln, compared to $83.5 mln last year
Q2 adjusted funds from operations per share increased 9.2% yr/yr
Company completed $8.9 mln in acquisitions and expanded storage space by 30,000 sq ft in Q2

    

    Outlook
  
Company expects to complete about 165,000 sq ft of expanded and renovated space in 2026
StorageVault says it is well positioned to build on momentum through the rest of 2026
Company says growth will be driven by acquisitions, organic improvements and targeted expansions

    

    Result Drivers
  
EXISTING STORE GROWTH - Revenue and net operating income from existing self-storage locations rose 3.9% and 5.1% yr/yr, respectively
ACQUISITIONS - Co completed $8.9 mln in acquisitions in Q2, adding two stores
EXPANSION - Co added 30,000 sq ft of new storage space in Q2

    
Company press release: ID:nGNX1JNq6z

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
Q2 Revenue
Slight Beat*
C$91.10 mln
C$91 mln (1 Analyst)
Q2 Net Loss
 
C$6.60 mln
 
Q2 FFO
 
C$22.90 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

    

    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 23.2% above its July 21 closing price of C$4.87

    

    Reuters Recommended Reads
  
July 20 - UK's Big Yellow Q1 revenue rises on new store openings
July 22 - Canada's Choice Properties REIT Q2 FFO per unit up on strong same-asset net operating income growth
July 22 - EastGroup Properties raises 2026 FFO outlook on strong leasing

    
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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.)