Safestore stock reports Q3 growth as earnings outlook softens

Published on 10/04/2026 at 19:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Safestore stock posted GBP 62.2 million of Q3 2026 revenue on September 3, up 4.4 percent year over year. Adjusted EPRA EPS is guided to the lower half of forecasts.

Aquarellbild der Londoner Skyline mit Themse und historischen Gebäuden — Aquarellmalerei der Skyline von London symbolisiert Firmensitz von Safestore Holdings plc, ISIN GB00B1N7Z094, britischer Self-Storage-Immobilienkonzern, Illustration mit AI erstellt.

Safestore stock (ISIN GB00B1N7Z094) closed at GBp 506 on the London Stock Exchange on October 2, 2026, after the self-storage group reported GBP 62.2 million of third-quarter revenue. The quarterly update showed continued sales growth, but adjusted earnings per share are now expected in the lower half of the analyst forecast range.

Q3 revenue rose 4.4 percent

According to Scottish Widows on September 3, 2026, group revenue for the quarter increased 4.4 percent from the prior year to GBP 62.2 million. Revenue on a like-for-like basis rose 1.9 percent to GBP 60.0 million, while expansion markets delivered like-for-like growth of 11.6 percent.

The operating picture was uneven across regions. Like-for-like revenue in Paris fell 2.5 percent, and closing occupancy declined to 79.6 percent from 80.4 percent a year earlier. In the United Kingdom, like-for-like revenue increased 1.9 percent, supported by domestic demand and unit partitioning.

Forecast range shifts lower

Safestore guided adjusted diluted EPRA earnings per share for fiscal 2026 toward the lower half of the analyst range of 39.6 pence to 42.4 pence, according to Inside Self-Storage on September 9, 2026. The lower-half guidance matters because revenue growth is currently running ahead of the earnings trajectory, with occupancy and development costs limiting conversion into profit.

Safestore opened one facility in Watford during the quarter, adding 57,500 square feet of maximum lettable area. The remaining 2026 pipeline totals 167,100 square feet, giving the group a measurable expansion route while the review of the 2027 and 2028 United Kingdom pipeline adds a capital-allocation question.

Analysts see 52.0 percent upside

According to MarketScreener, the consensus rating was Outperform across 12 analysts, with an average target price of GBp 769.1. Against the October 2 closing price of GBp 506, that target lies 52.0 percent above the price.

The consensus sits alongside a more cautious recent call. Oddo BHF cut Safestore from Outperform to Neutral on September 16, 2026, and reduced its target from GBp 840 to GBp 600, according to MarketScreener. The split between the consensus target and the lower individual target reflects the central tension in the story: expansion remains visible, while near-term earnings delivery is more restrained.

Safestore stock closed at GBp 506

Safestore stock closed at GBp 506 on October 2, 2026, up 0.40 percent from the previous close of GBp 504. The stock's 52-week range was GBp 500.50 to GBp 849.50, placing the latest close GBp 5.50 above the yearly low and 40.4 percent below the yearly high.