Declared Dividend • May 24
Final dividend of €0.41 announced Shareholders will receive a dividend of €0.41. Ex-date: 25th May 2026 Payment date: 27th May 2026 Dividend yield will be 3.4%, which is lower than the industry average of 3.8%. Announcement • Nov 23
Shurgard Self Storage Ltd to Report Fiscal Year 2025 Results on Feb 26, 2026 Shurgard Self Storage Ltd announced that they will report fiscal year 2025 results on Feb 26, 2026 Announcement • Mar 31
Shurgard Self Storage Ltd to Report Fiscal Year 2024 Final Results on Apr 29, 2025 Shurgard Self Storage Ltd announced that they will report fiscal year 2024 final results at 9:00 AM, Central European Standard Time on Apr 29, 2025 Announcement • Mar 03
Shurgard Self Storage Ltd, Annual General Meeting, May 14, 2025 Shurgard Self Storage Ltd, Annual General Meeting, May 14, 2025. Buy Or Sell Opportunity • Nov 09
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 8.5% to €38.85. The fair value is estimated to be €31.56, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has grown by 3.5%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to decline by 27% in the next 2 years. Declared Dividend • Aug 26
First half dividend of €0.41 announced Shareholders will receive a dividend of €0.41. Ex-date: 24th September 2024 Payment date: 26th September 2024 Dividend yield will be 2.2%, which is lower than the industry average of 3.8%. Reported Earnings • Aug 15
Second quarter 2024 earnings released: EPS: €1.61 (vs €1.56 in 2Q 2023) Second quarter 2024 results: EPS: €1.61 (up from €1.56 in 2Q 2023). Revenue: €96.0m (up 9.5% from 2Q 2023). Net income: €157.0m (up 13% from 2Q 2023). Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Aug 01
Shurgard Self Storage Ltd (ENXTBR:SHUR) completed the acquisition of Lok'nStore Group Plc (AIM : LOK) from group of sellers. Shurgard Self Storage Ltd (ENXTBR:SHUR) have reached agreement to acquire Lok'nStore Group Plc (AIM : LOK) from group of sellers for approximately £370 million on April 11, 2024. Cash price per share is £11.1. Lok'nStore had 32,897,949 ordinary shares. As a result of the Acquisition, Shurgard will acquire an additional total MLA of 171,000 sq. m. The Acquisition also brings with it income from 17 stores under management contract with one management contract store in the pipeline. This income includes £1.7 million in fees for the year end July 31, 2023. Shurgard has no intention to make material changes to the terms and conditions of employment of Lok'nStore employees as a result of the Acquisition. The Chair, Finance Director and Non-Executive Directors of Lok'nStore are expected to step down from their positions with effect from the Effective Date. Shurgard has received irrevocable undertakings to vote in favour (or procure a vote in favour) of the Scheme at the Court Meeting and the Resolutions to be proposed at the General Meeting from those Lok'nStore Directors who hold Lok'nStore Shares in respect of their own beneficial shareholdings, totalling 6,302,453 Lok'nStore Shares representing approximately 19%. of the issued share capital of Lok'nStore as at April 10, 2024, being the last Business Day before the date of this Announcement. Shurgard Luxembourg, a member of the Shurgard Group, has entered into a loan facility agreement with JPMorgan and J.P. Morgan SE as agent and mandated lead arranger dated 11 April 2024 (the "Facility Agreement"), pursuant to which a £430 million credit facility is being made available to Shurgard Luxembourg to finance the cash payable to Lok'nStore Shareholders under the terms of the Acquisition. The Acquisition is subject to a number of Conditions i.e., the approval of the Scheme by a majority in number of the Scheme Shareholders, representing not less than 75%. in value of the Scheme Shares held by those Scheme Shareholders, present and voting, either in person or by proxy, at the Court Meeting, the passing of the Resolutions by the requisite majority at the General Meeting; and the Scheme being sanctioned by the Court and a copy of the Court Order being delivered to the Registrar of Companies, Accordingly, the Lok'nStore Directors intend to recommend unanimously that Scheme Shareholders vote in favour of the Scheme at the Court Meeting and Lok'nStore Shareholders vote in favour of the resolutions to be proposed at the General Meeting and it is expected that the Scheme will become Effective in July 2024. It is intended that dealings in, and registration of transfers of, Lok'nStore Shares on AIM will be suspended shortly before the Effective Date at a time to be set out in the Scheme Document. As of July 18, 2024 that the Court had sanctioned the Scheme.
The Lok'nStore Directors, who have been so advised by Goldman Sachs and Cavendish as to the financial terms of the Acquisition, consider the terms of the Acquisition to be fair and reasonable. Goldman Sachs and Cavendish are providing independent financial advice to the Lok'nStore. J.P. Morgan Cazenove, as financial adviser to Shurgard is satisfied that sufficient resources are available to Shurgard to satisfy in full the cash consideration payable to Scheme Shareholders pursuant to the terms of the Acquisition. Allen & Overy LLPis acting as legal adviser toShurgard. Travers Smith LLP is acting as legal adviser to Lok'nStore.
Shurgard Self Storage Ltd (ENXTBR:SHUR) completed the acquisition of Lok'nStore Group Plc (AIM : LOK) from group of sellers on August 1, 2024. Declared Dividend • May 23
Final dividend of €0.41 announced Shareholders will receive a dividend of €0.41. Ex-date: 27th May 2024 Payment date: 29th May 2024 Dividend yield will be 2.1%, which is lower than the industry average of 3.8%. Announcement • Apr 11
Shurgard Self Storage Ltd (ENXTBR:SHUR) have reached agreement to acquire Lok'nStore Group Plc (AIM : LOK) from group of sellers for approximately £370 million. Shurgard Self Storage Ltd (ENXTBR:SHUR) have reached agreement to acquire Lok'nStore Group Plc (AIM : LOK) from group of sellers for approximately £370 million on April 11, 2024. Cash price per share is £11.1. Lok'nStore had 32,897,949 ordinary shares. As a result of the Acquisition, Shurgard will acquire an additional total MLA of 171,000 sq. m. The Acquisition also brings with it income from 17 stores under management contract with one management contract store in the pipeline. This income includes £1.7 million in fees for the year end July 31, 2023. Shurgard has no intention to make material changes to the terms and conditions of employment of Lok'nStore employees as a result of the Acquisition. The Chair, Finance Director and Non-Executive Directors of Lok'nStore are expected to step down from their positions with effect from the Effective Date. Shurgard has received irrevocable undertakings to vote in favour (or procure a vote in favour) of the Scheme at the Court Meeting and the Resolutions to be proposed at the General Meeting from those Lok'nStore Directors who hold Lok'nStore Shares in respect of their own beneficial shareholdings, totalling 6,302,453 Lok'nStore Shares representing approximately 19%. of the issued share capital of Lok'nStore as at April 10, 2024, being the last Business Day before the date of this Announcement. Shurgard Luxembourg, a member of the Shurgard Group, has entered into a loan facility agreement with JPMorgan and J.P. Morgan SE as agent and mandated lead arranger dated 11 April 2024 (the "Facility Agreement"), pursuant to which a £430 million credit facility is being made available to Shurgard Luxembourg to finance the cash payable to Lok'nStore Shareholders under the terms of the Acquisition. The Acquisition is subject to a number of Conditions i.e., the approval of the Scheme by a majority in number of the Scheme Shareholders, representing not less than 75%. in value of the Scheme Shares held by those Scheme Shareholders, present and voting, either in person or by proxy, at the Court Meeting, the passing of the Resolutions by the requisite majority at the General Meeting; and the Scheme being sanctioned by the Court and a copy of the Court Order being delivered to the Registrar of Companies, Accordingly, the Lok'nStore Directors intend to recommend unanimously that Scheme Shareholders vote in favour of the Scheme at the Court Meeting and Lok'nStore Shareholders vote in favour of the resolutions to be proposed at the General Meeting and it is expected that the Scheme will become Effective in July 2024. It is intended that dealings in, and registration of transfers of, Lok'nStore Shares on AIM will be suspended shortly before the Effective Date at a time to be set out in the Scheme Document.
The Lok'nStore Directors, who have been so advised by Goldman Sachs and Cavendish as to the financial terms of the Acquisition, consider the terms of the Acquisition to be fair and reasonable. Goldman Sachs and Cavendish are providing independent financial advice to the Lok'nStore. J.P. Morgan Cazenove, as financial adviser to Shurgard is satisfied that sufficient resources are available to Shurgard to satisfy in full the cash consideration payable to Scheme Shareholders pursuant to the terms of the Acquisition. Allen & Overy LLPis acting as legal adviser toShurgard. Travers Smith LLP is acting as legal adviser to Lok'nStore. Reported Earnings • Mar 03
Full year 2023 earnings released: EPS: €5.91 (vs €6.45 in FY 2022) Full year 2023 results: EPS: €5.91 (down from €6.45 in FY 2022). Revenue: €357.9m (up 6.8% from FY 2022). Net income: €533.3m (down 7.1% from FY 2022). Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Global Specialized REITs industry. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. New Risk • Jan 24
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 20% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Shareholders have been diluted in the past year (9.2% increase in shares outstanding). New Risk • Nov 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 18% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Upcoming Dividend • Sep 26
Upcoming dividend of €0.41 per share at 3.1% yield Eligible shareholders must have bought the stock before 03 October 2023. Payment date: 05 October 2023. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.8%). In line with average of industry peers (3.4%). Announcement • Aug 19
Shurgard Self Storage Ltd to Pay Dividend, Payable in October Shurgard Self Storage Ltd. announced that it confirmed the payment of a dividend of EUR 1.17 per share for the year, with a half year dividend of EUR 0.58 per share payable in October. Reported Earnings • Mar 12
Full year 2022 earnings released: EPS: €6.45 (vs €5.03 in FY 2021) Full year 2022 results: EPS: €6.45 (up from €5.03 in FY 2021). Revenue: €335.3m (up 12% from FY 2021). Net income: €574.3m (up 28% from FY 2021). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Board Change • Feb 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. No highly experienced directors. Director Skip Miller was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Feb 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 11 experienced directors. No highly experienced directors. Director Skip Miller was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Jan 14
Shurgard Self Storage S.A. to Report First Half, 2023 Results on Aug 18, 2023 Shurgard Self Storage S.A. announced that they will report first half, 2023 results on Aug 18, 2023 Announcement • Jan 06
Shurgard Self Storage S.A. to Report Q3, 2023 Results on Nov 03, 2023 Shurgard Self Storage S.A. announced that they will report Q3, 2023 results on Nov 03, 2023 Board Change • Nov 22
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. Director Skip Miller was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: €3.74 (vs €1.35 in 2Q 2021) Second quarter 2022 results: EPS: €3.74 (up from €1.35 in 2Q 2021). Revenue: €81.5m (up 12% from 2Q 2021). Net income: €333.0m (up 177% from 2Q 2021). Over the next year, revenue is forecast to grow 7.3% compared to a 47% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Jun 30
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. Director Skip Miller was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • May 03
Upcoming dividend of €0.43 per share Eligible shareholders must have bought the stock before 10 May 2022. Payment date: 12 May 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of German dividend payers (4.1%). Lower than average of industry peers (4.1%). Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. Director Skip Miller was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 27
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: €5.03 (up from €3.26 in FY 2020). Revenue: €300.4m (up 11% from FY 2020). Net income: €446.8m (up 54% from FY 2020). Revenue exceeded analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 7.4% compared to a 27% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Board Change • Oct 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. Director Skip Miller was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 22
Upcoming dividend of €0.39 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 01 October 2021. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.9%). Reported Earnings • Aug 24
Second quarter 2021 earnings released: EPS €1.35 (vs €1.43 in 2Q 2020) Second quarter 2021 results: Revenue: €72.8m (up 10.0% from 2Q 2020). Net income: €120.2m (down 5.4% from 2Q 2020). Upcoming Dividend • May 03
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 10 May 2021. Payment date: 12 May 2021. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (3.1%). Is New 90 Day High Low • Mar 05
New 90-day high: €39.65 The company is up 18% from its price of €33.50 on 04 December 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €15.05 per share. Reported Earnings • Feb 25
Full year 2020 earnings released: EPS €3.26 (vs €1.68 in FY 2019) Full year 2020 results: Revenue: €271.4m (up 5.6% from FY 2019). Net income: €289.5m (up 94% from FY 2019). Is New 90 Day High Low • Jan 08
New 90-day low: €32.05 The company is down 19% from its price of €39.50 on 09 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.79 per share. Is New 90 Day High Low • Dec 24
New 90-day low: €32.15 The company is down 13% from its price of €37.00 on 25 September 2020. The German market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €12.64 per share. Is New 90 Day High Low • Dec 03
New 90-day low: €33.50 The company is down 8.0% from its price of €36.55 on 04 September 2020. The German market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €11.51 per share. Is New 90 Day High Low • Oct 10
New 90-day high: €39.50 The company is up 24% from its price of €31.80 on 10 July 2020. The German market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €12.41 per share. 
