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1Q18 Self Storage REIT Report

1Q18 Self Storage REIT Report
Posted: 5/14/2018 Link: NGKF.com
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Same store operating performance for the self storage sector remained positive in the first quarter of 2018, as non-weighted NOI growth was just over 3.5%, while non-weighted same store revenue also grew just over 3.5%. This compares positively with the broader REIT universe and materially outpaces U.S. GDP growth. The 2018 guidance increases by several of the storage REITs, along with multiple analyst upgrades within the storage sector, indicates the new supply headwinds remain managed and strong operating platforms are adequately regulating rental rates to maintain supply/demand equilibrium. The sector also ended first-quarter 2018 at a non-weighted average occupancy of 92%.

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