The self storage REITs posted positive same-store gains in revenues and net operating income in the second quarter compared to last year’s second quarter. The pace continues a decelerating growth trend from recent quarters. New supply is impacting operating performance in markets with the most development activity.
The self storage REITs generated same-store revenue growth in the second quarter ranging from 1.5% to 4.1%.
Net operating income of same-store pools range from 1.2% to 5.2%.
The self storage sector reported near REIT-leading performance during the first half of 2018. The self storage sector generated 6.1% returns, trailing only student housing, lodging/gaming and industrial out of 17 different REIT categories.