StorageVault Reports 2025 Third Quarter Results and Increases Dividend

Core Insights - StorageVault Canada Inc. reported strong financial results for Q3 2025, with a 5.4% increase in same-store revenue and a 5.2% increase in net operating income (NOI), leading to a 7.5% rise in adjusted funds from operations (AFFO) per common share [1][2][3] Financial Performance - Q3 2025 revenue increased to $88.5 million from $79.0 million in Q3 2024, while NOI grew to $60.2 million from $54.1 million [2][6] - The net income for Q3 2025 was $20.5 million, a significant recovery from a net loss of $7.0 million in Q3 2024, influenced by a $15.7 million realized gain on real estate and $29.5 million in depreciation and amortization [2][6] - Funds from operations (FFO) for Q3 2025 were $24.7 million, up 6.7% from $23.1 million in Q3 2024, while AFFO increased by 5.2% to $26.6 million [3][4] Operational Highlights - Revenue and NOI from existing self-storage facilities increased by 5.4% and 5.2% year-over-year, respectively [3][7] - The company expects to add an incremental annual NOI of $7.9 million over the next three years as acquisitions and expansions stabilize [4][21] Dividend Announcement - StorageVault announced a 0.5% increase in its Q4 2025 dividend to $0.002991 per common share [9] Strategic Focus - The company aims to own and operate storage facilities in top Canadian markets, focusing on acquisitions, organic growth, and expansion of existing stores and services [10][19]