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…

National Storage Affiliates Announces Management Promotion

National Storage Affiliates Trust today announced the promotion, effective July 1, 2022, of David Cramer from his role as executive vice president and chief operating officer to president and chief operating officer. We believe the Company will benefit from Dave’s elevated leadership role as well as his focus on operational execution and growth through acquisitions given his invaluable industry experience and proven track record of results.” Tamara Fischer, Chief Executive Officer, commented, “We are extremely pleased to announce Dave’s promotion to president of NSA. This promotion acknowledges his current and…

First Quarter Results for Absolute Storage Management

Absolute Storage Management (Absolute), a leading third-party management company for self-storage facilities in the United States, announced operating results for the three months ended March 31, 2022. 2022 Highlights for Three Months Ended March 31, 2022: Increased same-store revenue by 18.3% vs. the same period in 2021. Maintained Square Ft. and Unit Occupancy vs. the same period in 2021. Ended the period with 21% increase in GPI vs. the same period in 2021. Acquired nine (9) management contracts: four (4) operating facility and five (5) facilities at the completion of…

It’s Still a Good Time to Borrow

Unless you’ve been hiding under a rock for most of 2022, you know that interest rates are on the rise. The best barometers for commercial real estate interest rates are US Treasuries and LIBOR/SOFR. They are the indices most lenders use to price their loans. Since December 2021, the 10-Year benchmark index has risen over 150 basis points to 2.96% as of May 17, 2022. To be sure, this more than doubling of treasury rates over five months has led to disruption in the market and caused lenders to revisit…

Rising Interest Rates and Inflation – What Does This Mean for the Sector?

In an environment with rising interest rates and inflation, the U.S. real estate market should prove resilient in sectors with pricing power, strong demand and shorter lease terms, which, have historically performed well. Real estate is an ideal place to park capital in stagflation environments, except where markets are oversupplied and lose pricing power. Fortunately, the self storage sector isn’t oversupplied. Development activity in 2021 for self storage fell from activity levels in 2019, with $3.5 billion versus 2019’s $5.0 billion. REITs do not anticipate significant supply challenges this year.…

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…

Evaluating Offers from Four Major Self Storage Buyer Groups

Over the last couple of months, top executives and self storage owners from around the country gathered in Orlando for the SSA Spring meeting and in Las Vegas at the ISS Spring tradeshow to discuss industry trends, investor sentiment and overall market conditions. The consensus is that the industry continues to be cautiously optimistic about performance in 2022 and rising interest rates are on the front of everyone’s mind.  We saw the 10-year treasury continue to rise the last couple of weeks with market volatility continuing to gain momentum.  Meanwhile,…

Introducing The Hatcher Coe Group of Marcus & Millichap

We are excited to announce that The Hatcher Group of Marcus & Millichap is now The Hatcher Coe Group of Marcus & Millichap. For nearly eight years, Gabriel has been essential in the completion of over 348 self storage transactions totaling close to $2.1 billion. He started from the ground up and continues to build upon his success as both a team player and leader.” “Gabriel has been an integral part of our success and has proven himself year after year, making a great name for himself and our team…

National Storage Affiliates Trust Announces Largest Increase in Quarterly Common Dividend Since IPO

National Storage Affiliates Trust (“NSA” or the “Company”) (NYSE: NSA), announced that its Board of Trustees today declared regular cash dividends for the first quarter 2022 payable on March 31, 2022 to shareholders of record on March 15, 2022 on the following securities: a dividend of $0.50 per common share, representing an annualized dividend rate of $2.00. This new rate represents a 43% increase from the first quarter 2021 dividend and an 11% increase from the previous quarter. a dividend of $0.375 per share on the Company’s 6.000% Series A…

Cannabis and the Self Storage Industry

The year is 1983. You dance your way into the kitchen while enjoying Lionel Richie’s smashing new hit “All Night Long”, pour yourself a nice tall glass of Tang and flip on Good Morning America. Poised front and center is the always classy FLOTUS, Nancy Reagan, and you hear her utter that infamous phrase for the first time, “JUST SAY NO.” This phrase has echoed throughout the decades but the war on drugs has shifted tremendously since that point in time. All but two states now have some form of…