Storage King Group reports $3.9B total assets in FY26
- Storage King Group reported its FY26 results with total assets reaching $3.9 billion and net tangible assets of $1.77 per security.
- The company invested $78 million into new developments to add 10,000sqm of capacity to its active portfolio.
- Management stated that delivering new facilities and deploying proprietary revenue platforms will position the business for future market growth.
Storage King Group (ASX:SKG) reported FY26 total assets of $3.9 billion and net tangible assets of $1.77 per security.
Funds from operations reached $82.1 million, down 3.4% from FY25.
The property trust recorded a decreased weighted average capitalisation rate of 5.42% for the current reporting period.
The business detailed investing $78 million to develop an initial 10,000 square metres of new storage capacity.
"Alongside resilient operating performance and continued disciplined growth of the portfolio, we internalised the management platform, creating a simpler, more efficient and better aligned business," according to CEO Nikki Lawson.
The company stated this expansion included delivering four new facilities and adding roughly 34 stores to the portfolio.
The company stated that proprietary revenue systems will support future capabilities.
Following the announcement, the Storage King Group share price was down at $1.28.
Storage King Group provides FY27 distribution guidance of 4.50 cents per security, targeting a full-year payout ratio of 80% to 100% of funds from operations.
Abacus Storage Operations continues to act as the primary entity managing these underlying real estate trust assets.
