Safestore stock gains as Q3 growth meets a cautious outlook

Published on 09/28/2026 at 16:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Safestore stock was at GBp 531.50 at 3:45 p.m. BST on September 28, 2026, up 1.82 percent from the prior close. Q3 revenue rose 4.10 percent at CER.

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Safestore stock (ISIN GB00B1N7Z094) was trading at GBp 531.50 on the London Stock Exchange at 3:45 p.m. BST on September 28, 2026, up 1.82 percent from the GBp 522.00 prior close. The latest operating update combines 4.10 percent Q3 revenue growth with a cautious full-year earnings outlook.

Q3 revenue grows 4.10 percent

For the quarter ended July 31, 2026, group revenue reached GBP 62.2 million, compared with GBP 59.6 million a year earlier on a reported basis. Safestore reported the 4.10 percent constant-exchange-rate increase on September 3, 2026.

Like-for-like group revenue rose 1.90 percent, while like-for-like revenue in the Expansion Markets increased 11.60 percent. The contrast shows that new stores and international operations are contributing more strongly than the mature portfolio.

Occupancy sets the counterpoint

Like-for-like closing occupancy stood at 79.60 percent of current lettable area in Q3 2026, down from 80.40 percent in Q3 2025. Paris was the clearest pressure point, with like-for-like occupancy at 79.00 percent against 85.20 percent a year earlier.

Safestore expects FY 2026 adjusted diluted EPRA EPS in the lower half of the analyst range of GBp 39.60 to GBp 42.40, against company-compiled consensus of GBp 41.40. This makes occupancy and the pace of new-store absorption more important than the headline revenue increase for the next valuation debate.

Analyst target falls to GBp 600

On September 16, 2026, MarketScreener reported that Oddo BHF cut its Safestore rating to Neutral from Outperform and reduced its price target to GBp 600.00 from GBp 840.00. The revised target remains above the September 28 trading price, but the size of the cut underlines the market's concern about the self-storage operating backdrop.

Stock trades above prior close

Safestore shares were trading at GBp 531.50 on September 28, 2026, with an intraday range of GBp 531.00 to GBp 538.00 and volume of 149,925 shares. The 52-week range was GBp 509.50 to GBp 849.50, leaving the stock 37.43 percent below its yearly high.