Q3-2018 NKF Self Storage REIT Summary Report

Q3-2018 NKF Self Storage REIT Summary Report
Posted: 11/20/2018 Link:
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Same store operating performance for the self storage sector remained positive in the third quarter of 2018, with non-weighted NOI growth at just over 3.4%, while non-weighted same store revenue grew at 3.0%. The self storage sector continues to outperform the broader REIT industry average. The storage REITs also projected optimism through a tightening of guidance ranges along with several guidance increases for the balance of 2018. Although occupancy in self storage facilities drifted lower, the relative strength in NOI and revenue has buoyed overall confidence in the sector. So has the sustained management of rental revenue optimization despite the multi-year period of supply expansion. The sector ended third-quarter 2018 at a non-weighted average occupancy of 92%.

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