SkyView Advisors Self Storage Industry Report Q1 2017

SkyView Advisors Self Storage Industry Report Q1 2017
Posted: 5/17/2017 Link:
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Busy season for the self storage sector is just around the corner and the REITs are feeling well positioned based on first quarter performances. Q1 results show a revenue growth for all REITs compared to the same period in 2016, with NSA leading at 6.6% growth, exceeding their forecasts for the quarter. With regards to NOI growth, NSA and Extra Space nearly tie as leaders by a difference of just .1% (NSA at 9.1% and Extra Space at 9.2%). Occupancy rates remain near peak levels throughout all five major REITs. Additional key points include LSI, CUBE and EXR seeing an acceleration in their third-party management businesses and census construction spend grew 85% year over year for March.

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