Real estate investment trusts (REITs) that focus on niche property sectors can often generate strong growth thanks to industry tailwinds. One example is Storage Equities Inc (STOR), a self-storage facility REIT whose stock has been soaring.
About Storage Equities Inc
Storage Equities Inc is a Maryland-based self-storage REIT founded in 1996. It owns and operates over 1,000 storage facilities across 40 US states. Their properties are a mix of climate-controlled and drive-up storage units rented to both residential and business customers.
Recent Stock Growth
STOR’s stock price has jumped over 50% year-to-date. This remarkable growth is driven by several key factors:
- Booming self-storage industry with expected 4% annual growth
- STOR’s impressive financial performance over the last 10 quarters
- Attractive valuation compared to competitors
Bullish Outlook
Wall Street analysts remain very bullish on STOR. The consensus price target of $314 represents a potential 15% upside from current levels.
The self-storage sector benefits from increasing urbanization and ecommerce trends. As a leading operator, STOR is poised to capitalize on this growth for years to come. Investors wanting exposure to the self-storage market may find STOR’s stock a compelling opportunity.
Of course, as with any investment, it’s critical to do your own research before making decisions. But the fundamentals helping to drive STOR’s surge appear likely to remain in place going forward.
