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2Q17 Self Storage REIT Report

2Q17 Self Storage REIT Report
Posted: 8/16/2017 Link: NGKF.com
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Same store operating performance remained positive for the sector in the second quarter of 2017, as non-weighted same store NOI growth was just over 4.6%, while non-weighted same store revenue grew 4%. Performance at this level is very competitive in the context of the REIT universe, with self storage remaining among the top-performing sectors for operating fundamentals. Although the self storage sector has materially outperformed the broader REIT market for more than a decade, equity investors view the normalization of operating metrics as a negative. This sentiment has become very pronounced in the sector’s stock price performance over the last three quarters, so that the bifurcation remains between equity pricing and the underlying operating fundamentals.

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