Shurgard SHUR.BR
LuxembourgReal Estate · REIT - SpecialtyEuronext Bruselas · EUR
28.62 EUR (+31.0%)
17 analysts
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Shurgard is a REIT specialized in self-storage rentals in Europe, generating recurring income from rental leases.
Listed on Euronext Bruselas · Symbol SHUR.BR · EBR: SHUR · Currency EUR
Key points
from its scores- ✓Favourable backdrop7.2
- ✕Poor share-price trend1.2
- ✕Weak growth3.1
- ✕Little competitive advantage4.8
AI analysis
bottom line, main risk, context and newsThe cheap valuation and attractive dividend offset weak growth and leverage, but rising rates limit upside potential.
Shurgard presents acceptable financial health (6.15) but with high leverage (Net Debt/EBITDA of 6.55) and very negative earnings growth (-89.4%), which weighs on its growth score (3.1). Its valuation is attractive (P/B of 0.49) and it offers a net dividend yield of 5.35%, but momentum is very weak (1.21) and rising interest rates in Europe are a drag.
High leverage (Net Debt/EBITDA of 6.55) combined with the ECB's rate-hiking cycle increases financing costs and pressures the valuation of its real estate assets.
Context and risks
Shurgard operates as a REIT in several European countries, headquartered in Luxembourg. The main risk is exposure to interest rates: its Net Debt/EBITDA of 6.55 is high and the rise in long-term rates in Europe (ECB hiking) makes refinancing its debt more expensive and pressures its cost of capital, directly affecting the valuation of its real estate assets.
Is Shurgard stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 67% below the Real Estate median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 7.1 | 21.6 | −67% |
| EV / EBITDA | 15.0 | 18.5 | −19% |
| Price / book | 0.5 | 1.4 | −66% |
| Price / sales | 4.8 | 6.3 | −23% |
Sector: median of the 100 Real Estate companies analysed. In bold, the multiples used for the comparison.
Valuation score: 6.7 out of 10 (median for Real Estate: 4.9).
Average analyst target: 28.62 EUR, +31.0% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 5.6 (sector 5.5), Growth 3.1 (sector 5.7).
Classic formulas with standard assumptions (0.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Real Estate medianValuation
- P/E
- 7.1
- Forward P/E
- 12.8
- EV / EBITDA
- 15.0
- Price / book
- 0.5
- Price / sales
- 4.8
- Market cap
- 2.2B EUR
- Enterprise value
- 3.9B EUR
Profitability
- ROE
- 7.1%
- ROA
- 2.2%
- ROIC (approx.)
- 4.1%
- Gross margin
- 66.9%
- Operating margin
- 56.6%
- Net margin
- 68.4%
- Free cash flow
- 119.2M EUR
- FCF yield
- 5.4%
- Cash conversion
- 46%
Solvency
- Total debt
- 1.8B EUR
- Net debt
- 1.7B EUR
- Cash
- 70.2M EUR
- EBITDA
- 261.8M EUR
- Net debt / EBITDA
- 6.55
- Debt / equity
- 39.26
- Current ratio
- 0.66
- Quick ratio
- 0.49
Growth
- Revenue growth
- +3.2%
- Earnings growth
- −89.4%
- EPS (TTM)
- 3.09 EUR
- EPS (forward)
- 1.71 EUR
Dividend
- Dividend yield
- 5.4%
- Payout
- 37.9%
Risk and market
- Beta
- 0.81
- Analyst consensus
- Buy (17)
- Target price
- 28.62 EUR
- 52-week range
- 21.15 – 35.45
Recent news
All SHUR.BR news →Compare it with its sector
All 100 in Real Estate →Frequently asked questions about Shurgard
Is Shurgard stock cheap or expensive?
On P/E and Price / book, it trades 67% below the Real Estate median on average. Valuation score: 6.7 out of 10 (median for Real Estate: 4.9). Average analyst target: 28.62 EUR, +31.0% versus the price. This is not investment advice.
What score does Shurgard get on MeridIAn Screener?
It scores 5.4 out of 10, rank 1,501 of 2,130 (better than 29% of the companies analysed). Its strongest category is Risk & Context (7.2) and its weakest, Momentum (1.2). Analysis of 08/10/2026.
What is Shurgard's P/E ratio?
Its P/E is 7.1: the share price equals 7.1 times earnings per share over the last 12 months. The Real Estate median is 21.6. Based on the earnings analysts expect, the forward P/E is 12.8.
How much is Shurgard worth on the stock market?
Its market capitalisation is 2.2B EUR.
Does Shurgard pay a dividend?
Yes: its dividend yield is 5.35% and it pays out 38% of its earnings.
How has Shurgard stock performed over the last year?
It has fallen 29.9% over the last year, excluding dividends. Over the last 52 weeks it has traded between 21.15 and 35.45 EUR. Past performance does not guarantee future results.
What do analysts think of Shurgard?
17 analysts cover it; their average recommendation is “Buy” and their average target is 28.62 EUR (+31.0% versus the price). It is an estimate, not market data.