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Public Storage leads self-storage names lower following Irma

Published 09/11/2017, 10:06 AM
Updated 09/11/2017, 10:06 AM
© Reuters.  Public Storage leads self-storage names lower following Irma
  • All of Public Storage's (PSA -2.5%) Florida properties (284), and nine in So. Carolina and Georgia are temporarily closed while Irma blows through. The impact to them from the storm is not yet known.
  • Turning to Houston, all 116 of PSA's properties have been reopened, but seven more severely properties will have to be demolished and rebuilt.
  • The entire sector is in the red this session, perhaps as Irma's less-than-feared impact means less incremental demand for self-storage services.
  • Life Storage (LSI -2.1%), CubeSmart (CUBE -2.7%), Extra Space Storage (EXR -2.9%)
  • Now read: The Extra Space Moat: Technology Advantage


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