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Self-storage REITs a bright spot in big selloff

Published 12/04/2018, 02:12 PM
© Reuters.  Self-storage REITs a bright spot in big selloff
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  • The REIT sector often sees some buying on days like this when the major averages sell off and interest rates fall. The iShares U.S. Real Estate ETF (IYR -0.9%), however, is in the red (though outperforming the S&P 500's 2.6% decline by a wide margin).
  • What's working in REITs? Interestingly, the only group within that sector in the green are the self-storage players - Public Storage (PSA +0.7%), Extra Space Storage (EXR +0.1%), CubeSmart (CUBE +0.4%), and Life Storage (LSI +0.3%) among them. After all, if the economy is headed south and homebuying is in the dumps (see Toll Brothers results today), self-storage cubicles should benefit?
  • Now read: Extra Space Storage: Opportunity From Optionality


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