Positive Outlook for Self Storage Sector
Management is optimistic about the self-storage sector's future, citing decreased new supply, potential Fed interest rate cuts, and improved borrowing costs as factors supporting growth.
Core FFO Per Share Beat Consensus
Core FFO per share of $0.57 was reported for the third quarter, beating consensus estimates.
Successful Capital Recycling Program
NSA's capital recycling program has been effective, with proceeds used for deleveraging and funding attractive investments, including a new preferred equity program.
Improvements in Marketing and Revenue Management
Enhanced marketing efforts and centralized revenue management have led to a 23% increase in web shopping sessions and a 7.1% increase in conversion rates year-over-year for October.
New Joint Venture and Preferred Equity Program
NSA announced a new preferred investment program and a joint venture to invest in self-storage deals, providing an initial yield higher than wholly-owned acquisitions.