National Storage Affiliates Trust Reports Second Quarter 2022 Results

National Storage Affiliates Trust (NYSE: NSA) today reported the company’s second quarter 2022 results. Second Quarter 2022 Highlights Reported net income of $48.4 million for the second quarter of 2022, an increase of 35.7% compared to the second quarter of 2021. Reported diluted earnings per share of $0.24 for the second quarter of 2022 compared to $0.25 for the second quarter of 2021. Reported core funds from operations (“Core FFO”) of $91.6 million, or $0.71 per share for the second quarter of 2022, an increase of 29.1% per share compared…

​​​​Leveraging Security Technology to Enhance the Customer Experience: Part One

Customer experience is currently one of the most popular topics in self storage, so it’s no surprise that facilities are facing increased expectations to differentiate themselves. In a recent study conducted by Deloitte, companies that considered themselves customer-centric were 60% more profitable than companies that were not focused on the customer. As facilities continue to focus more on acquiring new business through an improved customer experience, owners and operators need to adapt quickly to keep up to avoid losing potential revenue. In this three-part series, we will explore the opportunities…

Five Questions with Brett Hatcher of the Hatcher-Coe Group of Marcus & Millichap

The self storage industry has certainly demonstrated its resilience over the past several years, gaining the attention of bigger players with access to inexpensive capital. Given the highly competitive investment market, we sat down with Brett Hatcher of the Hatcher-Coe Group of Marcus & Millichap to learn trends he’s observed in recent months. Continue reading below for more information. Question: The competitive environment has made investing in self storage challenging for the traditional investor. How are you seeing buyers adapt? Answer: I am seeing buyers put more equity down. There are…

National Storage Affiliates Trust Reports Third Quarter 2021 Results

National Storage Affiliates Trust (“NSA” or the “Company”) (NYSE: NSA) today reported the Company’s third quarter 2021 results. Third Quarter 2021 Highlights Reported net income of $40.7 million for the third quarter of 2021, an increase of 90.2% compared to the third quarter of 2020. Reported diluted earnings per share of $0.26 for the third quarter of 2021 compared to $0.15 for the third quarter of 2020. Reported core funds from operations (“Core FFO”) of $67.5 million, or $0.57 per share for the third quarter of 2021, an increase of…

The REIT M & A Boom Continues with Record-Breaking Year

Outperforming strong expectations and driven both by strategic and private capital, 2021 has already been a record year for REIT M&A, which hit $108 billion in transaction volume as of September 30, 2021. JLL’s Capital Markets M&A and Corporate Advisory group’s new M&A and Strategic Transactions Monitor report details the positive themes in the public capital markets space contributing to this unprecedented M&A surge. There is a significant demand and supply imbalance in the alternative asset classes, with high-quality platforms and assets generating strong interest from a wide array of investors.” REITs have shown strong earnings…

Software Support: Your First Line of Defense

Sometimes it can be daunting to know who to contact when something goes wrong. Support should be your first line of defense when something stops working and functionality is impacted. Whether it’s a gate not communicating with the software or a payment portal that is failing multiple payments, any loss of functionality can point to problems with back-end settings that you’ll likely need help with. Each software company has a different style of handling inquiries. Some primarily use email and phone calls to communicate with facilities. Some have an online…

List Self Storage Offers Complimentary Data Via StorTrack’s MarketView Platform (MVP)

StorTrack, the largest and most comprehensive pricing and market intelligence database available for the self storage industry, will offer complimentary data on all listings on List Self Storage (“List”), the leading national online platform for buying and selling self storage facilities. Users can choose between a one, three or five-mile radius to view market information including the number of facilities, total and rentable square footage, average rate per square foot, square footage per capita, population, median household income and known developments. In addition, an interactive map displays the location(s) of…

The Current Self Storage Landscape

Over the last twelve months, the self storage industry has gone from a desirable asset class to one of the most sought-after investments in the commercial real estate landscape. The uncertainty of the COVID-19 pandemic created a pause but 2020 would demonstrate very strong year-over-year rental growth and occupancy across most major markets. With strong performance during and emerging from the pandemic, we have seen a wave of new inventory hit the market for sale and record pricing in many markets. What is driving this wave of inventory? What is…

What Is in a Feasibility Study?

A feasibility study provides boots-on-the-ground research for a market of interest. The data collected is granular and covers all relevant components of a project including economic conditions, legal aspects and scheduling considerations. The goal is to determine the viability of a successful operation in that particular trade area by objectively evaluating the strengths and weaknesses of that market. A sample report can be viewed here.

Proactive Strategies to Drive Revenues

In today’s ultra-competitive self storage market, many independent owners are unsure about what to focus on to keep their property competitive and increase its value. With the continued growth of the REITs, regional operators and third-party management platforms, many independent operators are facing more skilled and well-capitalized competitors than ever before. So, how can an independent self storage operator not only stay competitive, but preserve and increase their value as well? It is simple; independent operators need to change their attitudes and processes to become more proactive. Below are four…