U-Store-It Trust (NYSE:YSI)

CAPS Rating: 5 out of 5

A self-administered and self-managed real estate company focused on the ownership, operation, acquisition and development of self-storage facilities in the United States.

Recs

4
Player Avatar TMFDoraemon (91.35) Submitted: 6/6/2006 5:46:57 PM : Outperform Start Price: $14.22 YSI Score: -92.27

This is a storage REIT. The new CEO is the former CEO of Storage USA, which was one of the better run storage REITs prior to selling out to GE. The new CEO has also lured his former CFO from his days at Storage USA away from another REIT as well. Given the economics of storage REITs and the valuation here with a 7% yield (which I could argue a cut in would make sense, but I digress) I think this is a market beater.

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Member Avatar 50day (< 20) Submitted: 9/28/2006 5:06:56 PM
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Nate, thanks for letting us know about YSI. I sat on my hands when Public Storage (PSA) was in the low 20's. I have been watching and waiting for an opportunity to get into the mini storage business and I think this company is it. I like the business: low maintainence buildings,absentee tenants, our tendency of collecting too much junk that must be stored...I bought my first third today. Thanks Dave Richens (50day)

Member Avatar TMFDoraemon (91.35) Submitted: 10/31/2006 3:18:45 PM
Recs: 0

No problem Dave. Just hold on tight if the economy goes downhill storage demand may go with it. That said there is enough operational room for improvement here that an economic downturn might get lost in the bottom line numbers as operations improve.

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