{
  "id": 5278430,
  "title": "Safestore shares fall as Q3 revenue rises, EPS seen in lower half of forecasts",
  "url": "https://urgent.news/2026/09/03/safestore-shares-fall-as-q3-revenue-rises-eps-seen-in-lower-half-of",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-03T07:50:14.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/safestore-shares-fall-as-q3-revenue-rises-eps-seen-in-lower-half-of-forecasts-4887109"
  },
  "original_language": "en",
  "account": "Safestore (LON:SAFE) shares experienced a decline on Thursday following the self-storage company's announcement of higher third-quarter revenue. However, the company warned that full-year adjusted diluted EPRA earnings per share were projected to fall within the lower half of analyst estimates. The stock was observed trading at 565 pence in early trading, lagging behind the FTSE 250 index, which showed minimal movement at the time.\n\nThe company's revenue grew by 4.1% at constant exchange rates, reaching £62.2 million for the three months ending July 31. Like-for-like revenue increased by 1.9%. Year-to-date revenue climbed by 5.1% to £182.8 million. The main issue was occupancy, which stood at 77.5% of current lettable area, a 0.9 percentage point decrease from the previous year. On a like-for-like basis, occupancy dropped by 0.8 percentage points to 79.6%, although storage rates rose by 3.4% at constant exchange rates and revenue per available square foot increased by 2.9%.\n\nPerformance varied across markets. Like-for-like UK revenue rose by 1.9%, bolstered by persistent demand from domestic customers and the impact of unit partitioning. Expansion markets, including Spain, the Netherlands, Belgium, and interests in Germany and Italy, contributed to an 11.6% like-for-like revenue growth due to both occupancy and rates. However, Paris experienced a decline in like-for-like revenue as new stores diverted inquiries away from existing locations, occupancy fell in large units undergoing partitioning, and economic conditions remained subdued.\n\nSafestore stated that 2026 store openings, totaling 167,100 square feet, remained on schedule. However, the company is reviewing the timing of its 2027-28 UK development pipeline due to present trading conditions. Safestore anticipates fiscal 2026 adjusted diluted EPRA EPS to be within the lower half of the analyst forecast range, with a company-compiled consensus estimate of 41.4 pence and a range of 39.6 pence to 42.4 pence.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}