Self-Storage REITS improving in 4Q of 2020
Overall results showing improvement in activity in the fourth quarter of 2020 in the self storage sector.
Key highlights from Self Storage REITS Q4 2020 report filings:
- The self storage industry appears to be recovering from the headwinds experienced in the first half of 2020 caused by COVID-19, with all of the national REITs showing positive revenue and NOI trends during Q4.
- The winter slow-down typically seen during Q4 did not have a significant impact in 2020 as occupancy trends were positive among the national REITs.
- Year-end acquisition totals were solid among the national REITs, with significant acquisition activity occurring during Q4.
- New competition continues to impact certain markets; however, overall, the headwinds caused by new competition appear to be moderating.