The Canadian storage operator reported 45 straight quarters of same-store growth, completed $8.9 million of acquisitions in Q2 and raised its Q3 2026 dividend by 0.5%.
StorageVault Canada Inc. reported stronger second-quarter and first-half 2026 operating results, with Q2 revenue rising to $91.1 million from $83.5 million a year earlier and net operating income, or NOI (revenue less operating costs), increasing to $60.3 million from $55.2 million. Funds from operations, or FFO (a cash flow proxy used in real estate), climbed 12.8% to $22.9 million, while adjusted funds from operations, or AFFO (FFO plus certain one-time acquisition costs), rose 9.4% to $25.1 million. On a per basic common share basis, FFO increased 12.6% and AFFO rose 9.2%. For the six months ended June 30, 2026, revenue increased 10.3% to $176.3 million and NOI grew 9.7% to $112.8 million. FFO rose 9.9% to $39.2 million and AFFO increased 8.7% to $43.4 million, with per-share gains of 10.0% and 8.8%, respectively. The company said its year-to-date performance was supported by its 45th consecutive quarter of positive same-store revenue, NOI and AFFO growth. StorageVault posted a Q2 net loss of $6.6 million, compared with a net loss of $6.2 million a year earlier, and a six-month net loss of $20.2 million versus $17.5 million in 2025. It said those figures were affected by non-cash and non-recurring items including depreciation and amortization, interest accretion on convertible debentures, derivative financial instrument gains or losses, and deferred tax recovery. The company also said it completed two store acquisitions in Q2 2026 for an aggregate $8.9 million in cash, bringing total acquisitions completed in 2026 to $71.4 million. It added 30,000 square feet of expansion space during the quarter and said it expects to complete about 165,000 square feet of expanded and renovated space in fiscal 2026, with 70,000 square feet finished by the end of the second quarter. StorageVault increased its Q3 2026 dividend by 0.5% to $0.003036 per common share.