Shurgard Q1 Earnings Miss, Shares Fall 5.5%

Shurgard's shares dropped 5.5% after Q1 earnings fell short of expectations and a macroeconomic warning.
Same-store revenue grew only 1.2% in Q1, while underlying EBITDA declined 2.1% due to higher real estate taxes.
The company kept its full-year adjusted EPS guidance of €1.70‑€1.81, citing challenging conditions but no change to outlook.
KBC Securities noted EPRA earnings missed estimates and highlighted pressure in the UK market.