Storage King (ASX:SKG): Have Analysts Changed Their Expectations After FY26?

Sonal Goyal

08 October 2026 04:56 AM AEDT

Storage King (ASX:SKG): Have Analysts Changed Their Expectations After FY26?

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Highlights

Consensus rating of Buy from 5 analysts: 3 Buy or equivalent, 2 Hold, 0 Sell or equivalent.
Mean price target of A$1.29 against a share price of A$1.07 on 8 October 2026, an implied upside of 20.2%.
Analyst targets range from A$1.10 to A$1.50.
Statutory profit was $154.3 million and the distribution was 6.20 cents per security.

Storage King Group (ASX:SKG) carries a consensus analyst rating of Buy. Of the 5 analyst recommendations recorded, 3 are Buy or equivalent, 2 are Hold and 0 are Sell or equivalent. The mean price target is A$1.29, with targets ranging from A$1.10 to A$1.50, against a current share price of A$1.07 (8 October 2026). Storage King Group is an Australian and New Zealand self-storage group that owns and operates storage properties, with total Assets of $3.9 billion.

Company name	Storage King Group
Ticker	(ASX:SKG)
Exchange	ASX (Australian Securities Exchange)
Current share price	A$1.07
Price date	8 October 2026
Number of analysts	5
Rating consensus	Buy
Consensus price target (mean)	A$1.29
Highest target	A$1.50
Lowest target	A$1.10
Implied upside/downside to mean target	Implied upside of 20.2%

Latest developments

Storage King Group (ASX:SKG) announced its results for the year ended 30 June 2026 on 14 August 2026. Statutory profit was $154.3 million and the distribution was 6.20 cents per security. Total assets rose 8.1% to $3.9 billion, net tangible assets were $1.77 per security, up 1.7%, and the weighted average Capitalisation rate was 5.42%, down three basis points. Funds From Operations (FFO) were $82.1 million, down 3.4%.

The group completed the internalisation of its management platform on 30 June 2026, which it said provides immediate value accretion and a simplified operating model with expected cost efficiencies. It invested $78 million in three operating stores and three development sites, adding about 10,000 square metres of net lettable area, and developed and opened four next-generation stores and completed five expansions, a record of about 34,500 square metres, adding 5% to the portfolio. Its proprietary Revenue management system was implemented across all owned stores.

Established portfolio revenue per available square metre (RevPAM) was $341, up 0.7%. Australian RevPAM was $348, up 2.7%, while New Zealand RevPAM was A$295, down 11.7%, which the company attributes to foreign exchange, a softer New Zealand economy and capital works completed in May 2026.

Risks and what to watch

FFO fell 3.4% and New Zealand RevPAM declined 11.7%, reflecting currency and economic conditions. Self-storage Earnings depend on occupancy, rental rates, development timing and capitalisation rates. The internalisation changes the operating cost structure, and development projects involve construction and lease-up requirements.

Next milestones

Items to watch include the effect of the internalisation on costs, lease-up of newly opened stores and expansions, New Zealand trading, use of the revenue management system, and the half-year result.

FAQs

Q: What is the consensus analyst rating for Storage King Group (ASX:SKG)?

A:The consensus rating is Buy, based on 5 analyst recommendations: 3 Buy or equivalent, 2 Hold and 0 Sell or equivalent.

Q: What are the analyst price targets for Storage King Group (ASX:SKG)?

A:The mean price target is A$1.29, with a highest target of A$1.50 and a lowest target of A$1.10. The share price on 8 October 2026 was A$1.07.

Q: What did Storage King Group (ASX:SKG) report for FY26?

A:SKG reported statutory profit of $154.3 million, FFO of $82.1 million, NTA of $1.77 per security and a distribution of 6.20 cents per security.

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