09:20 AM EDT, 05/14/2026 (MT Newswires) -- Berenberg maintained its price target and estimates on buy-rated Shurgard Self Storage (SHUR.BR) after the company's first-quarter results, which showed an "overall robust operational momentum but relatively large differences by region."

"Of the seven countries the company operates in, all regions saw higher in-place rents on a same-store basis except for the UK (-4.3% yoy), ranging from 0.1% for France and 9.7% for Sweden. The UK also saw a fall in same-store occupancy levels in Shurgard's portfolio by -70bp to 85.4%, alongside Belgium (89%, -180bp yoy), the Netherlands (89.5%, -40bp yoy) and Sweden (90.5%, -30bp yoy). Overall, same-store occupancy levels went down by 30bp yoy to 88.1% as of March,"according to a Thursday note.

For the first quarter, the self-storage facility developer reported real estate operating revenue of 114.6 million euros, against 111.6 million euros a year ago and the research firm's 112.4 million-euro estimate. Shurgard maintained its revenue outlook for full-year 2026 and the medium term from 2027 to 2030, each with a compound annual growth rate of between 6% and 8%.