Self-storage REIT Extra Space Storage on Feb. 18 issued a relatively weak forecast for 2020, highlighting what a research note from Citi called “continued deceleration” across the self-storage market. Along with reporting financial results for 2019, Salt Lake City, UT-based Extra Space projected key indicators for 2020. The REIT expects same-store revenue growth of 0.75…

Public Storage, the largest self-storage REIT in the U.S., has made a nearly $2 billion buyout bid for Australia’s National Storage REIT. National Storage revealed the unsolicited offer from Public Storage in a Feb. 14 news release. The potential deal is valued at $1.9 billion in Australian currency and nearly $1.3 billion in U.S. currency….

Google’s grip on the marketing budgets of publicly traded self-storage REITs is tightening. During their third-quarter earnings calls, executives at the REITs collectively bemoaned the rise — in some cases a sharp rise — in their marketing expenses. Glendale, CA-based Public Storage reported the steepest climb about the REITs: Same-store marketing costs skyrocketed 69.5 percent…

With a flood of private equity producing a “tough acquisition environment,” Chairman and CEO Arlen Nordhagen says self-storage REIT National Storage Affiliates Trust is bypassing deals that it considers too pricey. The influx of private investments into the self-storage sector has spurred historically low cap rates, Nordhagen explained on the REIT’s Oct. 31 earnings call….

As it continues to achieve cost savings from its Rent Now self-service rental platform and other measures, self-storage REIT Life Storage predicts a 1.25 percent and 2.25 percent upswing in same-store revenue next year. During its third-quarter earnings call Oct. 31, Life Storage leapfrogged its rivals by being the first publicly traded storage REIT to…

The logo isn’t the only thing that’s green. Salt Lake City-based Extra Space Storage is emerging as the most sustainable company operating in the self-storage industry. “Sustainability isn’t a new thing for us,” CEO Joe Margolis told the SpareFoot Storage Beat, “We’ve been undertaking smart sustainability ideas for a number of years.” For example, Margolis…