Safestore Holdings

Safestore reported like‑for‑like revenue growth for the third quarter, but its shares fell after the company forecast adjusted diluted EPRA earnings per share for 2026 in the lower half of analysts' range. Group revenue rose to £62.2m, but occupancy fell to 77.5% and weighed on performance. The UK showed moderate space growth, expansion markets delivered strong growth, and Paris remained weak. Safestore says planned 2026 openings are on track but is reviewing the UK development pipeline for 2027–28. » More on de.investing.com

Barclays has upgraded Safestore from "Equal Weight" to "Overweight" and set a 670 pence price target, saying it prefers Safestore despite occupancy headwinds and higher customer acquisition costs in the self‑storage sector. At the same time, Barclays downgraded Big Yellow, Shurgard and Unite to "Underweight" and cut earnings forecasts for those peers due to weaker medium‑term free cash flow prospects. The bank says the reweighting is based on a new valuation framework that places greater emphasis on free cash flow (80%) with supplementary dividend discounting and categorises European real estate stocks as "defensive growth." » More on de.investing.com

Safestore reports first-half revenue of £120.6m (+6.9%) and an adjusted, diluted EPRA earnings per share that rose 2.1%. Adjusted EBITDA was £67.9m, but operating profit fell sharply by 52.8% to £53.3m; profit before tax was £36.3m. Growth was driven by expansion with new locations and the conversion of larger storage units into higher‑yielding, smaller units; for 2026 the company expects, due to higher interest rates, EPS at the lower end of the consensus range and plans £86m of investment. » More on de.investing.com