Shurgard - H1 2023 - Impressive results continue
SHUR results are solid as EPRA earnings grow by 13.9% and NOI margin improves by 40bps YoY. Growth strategy on track. Sweden is the only market underperforming in Q2, something to keep an eye on.EPRA NTA lands at EUR 42.23 per share (+3.1% since Q1).LTV remains at a low 18%, Net debt /EBITDA 4.1x, and ICR 10.0x.We reiterate our Buy rating and EUR 48.5 TP. SHUR is one of our Real Estate top picks.More details in our Note issued this morningSHUR host a conference call today at 10:00 AM CET.Shurgard Self Storage SA, formerly known as Shurgard Self Storage Europe SARL, is a Luxembourg-based company, which serves as a provider of warehousing and self-storage services. The Company operates a number of self-storage facilities in Europe with over 200 self-storage centers. Shurgard's activity is organized around two areas: leasing of storage spaces for companies and individuals and other related services. Additionally, the Company also offers self-storage insurance specially designed for its clients. Apart from the Luxembourg, the Company also operates in the Netherlands, France, Sweden, the United Kingdom, Belgium, Germany and Denmark. The company is partly owned by Public Storage, an owner and operator of self-storage facilities with a range of stores in the United States.
We are an investment house with Belgian roots founded on more than 150 years of trust.
As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.