U-Store-It Trust Inc., a real estate investment trust (REIT) focused on the self-storage industry, recently shared its operating statistics for the first quarter, which ended March 31. The company showed upticks in total revenue, net operating income and occupancy.
Highlights of the statistics include:
- Same-store total revenue increased 3.7 percent in the first quarter of 2011 compared to the first quarter of 2010.
- Same-store net operating income increased 2.6 percent from the first quarter of 2010, 6.6 percent assuming no change in advertising expenses.
- Average same-store physical occupancy was 76.7 percent for the first quarter of 2011 compared to 75.3 percent for the first quarter of 2010.
More details can be found at http://www.snl.com/irweblinkx/file.aspx?IID=4095755&FID=11152318.
U-Store-It is a self-administered and self-managed REIT that owns or manages 451 self-storage facilities across the United States. The company also operates the U-Store-It Network, which consists of approximately 750 additional self-storage facilities.