Strategic Storage Trust, Inc. Reports Second Quarter 2014 Results

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    33532_logoStrategic Storage Trust, Inc. today announced operating results for the three and six months ended June 30, 2014. “We are pleased with the Q2 results, our top line growth in same store revenues and NOI has continued to increase and contributed to our first quarter with positive net income. Our increase in occupancy will afford us potential positive rental rate growth. In addition, our integrated technology, enhanced revenue management system along with our next generation marketing platform has proven to provide incrementally positive results,” commented H. Michael Schwartz, CEO of Strategic Storage Trust, Inc. Key Highlights for the Three Months Ended June 30, 2014:

    • Increased same-store revenues and net operating income (“NOI”) by 8.8% and 15.7%, respectively, for the three months ended June 30, 2014 compared to the three months ended June 30, 2013.
    • Increased same-store average occupancy by approximately 3.6% to 86.5% for the three months ended June 30, 2014 from 82.9% for the three months ended June 30, 2013.
    • Increased same-store annualized rent per occupied square foot by approximately 4.1% to $10.00 for the three months ended June 30, 2014 from $9.61 for the three months ended June 30, 2013.
    • Decreased property operating expenses as a percentage of revenues to 31.6% for the three months ended June 30, 2014 from 35.9% for the three months ended June 30, 2013.
    • Increased IPA Modified Funds From Operations (“MFFO”) by 76% to $7.9 million for the three months ended June 30, 2014 from $4.5 million for the three months ended June 30, 2013.
    • Increased cash flows from operations by 58% to $8.4 million for the three months ended June 30, 2014 from $5.3 million for the three months ended June 30, 2013.
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    About Strategic Storage Trust, Inc.:

    Strategic Storage Trust, Inc. (“SSTI”) was the first self storage REIT in the public non-traded REIT marketplace. SSTI is one of six publicly registered self storage REITs in the United States and is one of the fastest growing self storage REITs nationwide. The SSTI management team is comprised of industry veterans with extensive institutional experience in the acquisition and property management of self storage properties. Since the launch of SSTI in 2008, the company’s portfolio of properties has expanded to include 126 properties in 17 states and Canada that are being branded as SmartStop® Self Storage. The portfolio includes approximately 80,000 self storage units and 10.5 million rentable square feet of storage space. For more information about SSTI, please call 949-429-6600 or visit: www.strategicstoragetrust.com

    (via MarketWired)

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