Extra Space, CubeSmart Outperform Sovran, Public Storage in Q1 2015

Here is a list of the self storage REITs ranked by various Q1-2015 key metrics (operations, funds from operations, distributions, debt, valuation, and projections).  The stocks are rated item by item (from best #1 to worst #5), and at the end, there is a consolidated result.

These are the companies:

  • Extra Space Storage (NYSE: EXR)
  • Public Storage (NYSE: PSA)
  • CubeSmart (NYSE: CUBE)
  • Sovran Self Storage (NYSE: SSS)

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Ranking Item by Item & Consolidated

Metrics Ticker EXR CUBE SSS PSA
Operations
Q1 Revenue growth (YoY) 2 1 3 4
Q1 Same-store NOI growth (YoY) 1 2 4 3
Q1 Same-Store Occupancy 2 3 4 1
Funds From Operations
Q1 FFO per share growth (YoY) 1 3 2 4
Q1 Company FFO per share growth (YoY) 1 3 4 2
Distributions
Q1 Dividend payout ratio 2 1 3 4
Q1 Dividend per share growth (YoY) 2 1 3 4
Debt
Q1 Total debt to total capitalization value 4 3 2 1
Valuation
Q1 Implied Cap Rate 3 2 1 4
Q1 Dividend yield 2 4 1 2
Projections
Dividend per share growth (2015 vs 2014) 4 1 3 2
Company FFO/AFFO per share growth (2015 vs 2014) 1 3 2 4
Total Sum 25 27 32 35
Final Ranking   1 2 3 4
    Results:
  1. Extra Space Storage (NYSE: EXR)
  2. CubeSmart (NYSE: CUBE)
  3. Sovran Self Storage (NYSE: SSS)
  4. Public Storage (NYSE: PSA)

Written by Heli Brecailo

Disclaimer: This newsletter is not engaged in rendering tax, accounting, or other professional advice through this publication. No statement in this issue is to be construed as a recommendation to buy or sell any security or other investment. Please do your own due diligence before making any investment decision. Some information presented in this publication has been obtained from third-party sources considered to be reliable. Sources are not required to make representations as to the accuracy of the information, however, and consequently the publisher cannot guarantee accuracy.

Disclosure: The author has no positions in any shares mentioned, and no plans to initiate any positions within the next 72 hours.​