PSA - How This Self-Storage REIT Is Compounding Value
As one of the first movers in the full-scale self-storage business, Public Storage (NYSE: PSA) gained a foothold in some of the most attractive markets in the US before others dove in, helping it become one of the largest and highest-return-on-equity companies among self-storage REITs. Over last year, Public Storage started flexing its muscle by ramping up acquisitions of mid-sized self-storage companies, tucking them into the Public Storage portfolio, increasing their occupancy, and growing its funds from operation per share. Here's why this recession-resistant company deserves your attention.
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If you rent a self-storage unit, you know it can be a handy tool to store valuables and create space in your home or garage, especially in densely populated urban areas. Public Storage seized the opportunity early on before other major self-storage REITs. They accumulated locations in leading markets like LA, San Fransisco, New York, and Miami, where they placed facilities in prime locations that commanded above-average rents.
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How This Self-Storage REIT Is Compounding Value