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Same Store Net Operating Margin
Indicates profitability of long-held properties, reflecting cost control and pricing strategies.Same‑store margins have been unusually stable in a tight band, reflecting durable operating leverage from expense control, ancillary income and non‑same‑store lift. Recent Q1 softness looks seasonal and market‑driven—compounded by localized Sunbelt supply and an LA state‑of‑emergency drag—and a timing property‑tax benefit partly masked trends. Management’s unchanged guidance signals limited near‑term upside, while the NSA acquisition and PS platform upgrades are the realistic multi‑year levers to push margins higher if integration and busy‑season demand hold up.
Date | Same Store Net Operating Margin |
|---|---|
Jun 30, 2026 | 77.00 |
Mar 31, 2026 | 77.10 |
Dec 31, 2025 | 78.40 |
Sep 30, 2025 | 78.50 |
Jun 30, 2025 | 78.80 |
Mar 31, 2025 | 77.10 |
Dec 31, 2024 | 79.20 |
Sep 30, 2024 | 78.40 |
Jun 30, 2024 | 79.30 |
Mar 31, 2024 | 77.20 |