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I Love This Storage REIT And Here's Why

Before I get started, let me be clear, I’m not recommending a self-storage REIT today.

Summary

  • IRM customers' storage needs are largely unaffected by interest rate movements, and the company's core storage NOI doesn't change with the value of the underlying real estate.
  • In a rising rate environment, this structure reduces IRM's exposure to real estate value fluctuations compared with REITs that own their entire portfolios.
  • This REIT is definitely uniquely positioned and I see more potential as the Iron Mountain brand continues to widen its moat.