Shurgard - Still storing growth for the future
Based on our Real Estate report 'Are you ready to step in?', we adjusted our estimates for SHURWe released a 22p note on SHUR on 28 November. No changes have been made since that note on our estimates. Here is the recap of the note.The only change is that we adapted our WACC to 7.3%, impacting the TP. Our new TP emerges at EUR 47.00 (+2.00). We reiterate our ‘Buy' recommendation.More details in the Report published this morningShurgard 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.
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