Shurgard Self-Storage: Q2 26 preview: Regional divide, rents still slide

研报英文原文证据摘录

Shurgard Self-Storage: Q2 26 preview: Regional divide, rents still slide

Powered by Lab Global28 JulyResearch2026ab Evidence UBS YES

Shurgard Self-Storage Equities

LuxembourgQ2 26 preview: Regional divide, rents still slide

Real Estate

12-month rating Buy

UBS Evidence Lab: expanded study now covers most of Shurgard's key markets

We continue to expand our coverage of operational data across European self-storage 12m price target €34.50

markets. Starting with only London two years ago, our UBS Evidence Lab dataset now

captures nearly all of Shurgard's major operating markets, covering approximately 95%

Price (27 Jul 2026) €25.90

of portfolio value and providing a broader perspective on current self-storage

fundamentals. The enhanced study incorporates the UK, France, the Netherlands and RIC: SHUR.BR BBG: SHUR BB

Germany, markets management previously highlighted as experiencing a sharper

Trading data and key metrics

slowdown due to increasing competitive pressures. By widening market coverage, we

52-wk range €35.50-23.00

can better assess rental trends, pricing behaviour and competitive intensity across the

group's core geographies. The deeper dataset also improves comparability between Market cap. €2.62b/US$2.98b

regions and provides a stronger framework for evaluating near-term trading momentum Shares o/s 101m (ORD)

and regional performance. The dataset is not just broader, but also deeper: in this note, Free float 37%

we introduce asset-by-asset tracking for a more refined analysis. Avg. daily volume ('000) 75.6

Avg. daily value (m) €1.9

Key takeaways: Continent falls back in line with UK Common s/h equity (12/26E) €4.59b

UBS Evidence Lab pricing data - harvesting prices in the European self-storage market on P/BV (12/26E) 0.5x