$PSA Success Displays REITS Reversal?

In this clip from The Call @ Hedgeye, REITS analyst Rob Simone updates on Public Storage (PSA) and discusses the current market dynamics within the REITs space.

“Historically what has happened is that customers tend to stay in their storage units longer than they first expect,” explains Simone. “Now what is actually happening is the reverse. The growth of market asking rents are rising so quickly, that they’re effectively outpacing what’s called Existing Customer Rate Increase (ECRI).”