Self-Storage Management Firm SAM Reports Q2 2024 Results

Storage Asset Management (SAM), a self-storage management and consulting company, announced its operating results for the second quarter of 2024, which ended June 30. Same-store net operating income (NOI) increased by 0.2% during the quarter. Additionally, move-ins and revenue collected were approximately 5% higher than the same period last year, according to a press release.

“In an extremely competitive market, I am proud of our hard-working teams and the outcomes they have achieved for SAM’s clients in revenue and NOI growth,” said CEO Alyssa Quill. “Our strategic focus on sales, targeted online marketing and revenue management are netting positive results.”

SAM’s same-store pool for the period consisted of 280 stores that were stabilized by the first day of the prior year. The company considers a store stabilized once it’s been open for three years or sustained average square-foot occupancy of 80% or more for one calendar year. If a property reduces in size, it’s removed from the same-store pool until the beginning of the calendar year, at least 12 months from the date of change, the release stated.

Founded in 2010 by Quill and Jay Hoke, SAM manages nearly 600 facilities nationwide. It’s based in York, Pennsylvania.