SOURCE: U-Store-It Trust

U-Store-It Trust

January 19, 2010 16:05 ET

U-Store-It Trust Announces Tax Allocations of 2009 Dividend Distributions

WAYNE, PA--(Marketwire - January 19, 2010) - U-Store-It Trust (NYSE: YSI), a self-administered and self-managed real estate investment trust focused primarily on self-storage facilities, announced today that the tax allocations of its 2009 dividend distributions for the Company's common shares of beneficial interest represent 100% capital gain income. The 2009 distributions paid with respect to U-Store-It common stock (CUSIP #91274f104 and traded under ticker symbol YSI) are as follows:

                                             Total Unrecaptured Non-Taxable
                        Total      Ordinary Capital Section 1250  Distri-
Record     Payable   Distribution  Dividend   Gain    Gain (1)    bution
 Date       Date       per share   (Box 1a) (Box 2a)  (Box 2b)    (Box 3)

1/7/2009   1/22/2009  $      0.025 $   0.00 $ 0.025 $       0.00 $     0.00
4/7/2009   4/22/2009  $      0.025 $   0.00 $ 0.025 $       0.00 $     0.00
7/7/2009   7/22/2009  $      0.025 $   0.00 $ 0.025 $       0.00 $     0.00
10/7/2009 10/22/2009  $      0.025 $   0.00 $ 0.025 $       0.00 $     0.00
                      ------------ -------- ------- ------------ ----------
                      $       0.10 $   0.00 $  0.10 $       0.00 $     0.00

     (1) Amounts in Box 2b are included in Box 2a.

The fourth quarter 2009 distribution made to holders of record as of January 7, 2010 for the common shares is considered a 2010 distribution for federal income tax purposes.

About the Company

U-Store-It Trust is a self-administered and self-managed real estate investment trust. The Company provides self-storage solutions across the country. U-Store-It owns and or manages 375 facilities across the United States, and operates the U-Store-It Network, which consists of approximately 521 additional self-storage facilities. The Company's self-storage facilities, storage space and storage solutions are designed to offer affordable, easily accessible, and in most locations, climate-controlled storage space for residential and commercial customers, as well as boat storage and mini storage. According to the 2009 Self Storage Almanac, U-Store-It Trust is one of the top four owners and operators of self-storage facilities in the U.S. For more information, visit www.ustoreit.com.

Forward-Looking Statements

Although the Company believes the expectations reflected in any forward-looking statements in this press release are based on reasonable assumptions, there can be no assurance that such expectations will be achieved. You should not rely on our forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that could cause the Company's future results, performance, or achievements to differ significantly from the results, performance, or achievements expressed or implied by such statements. Such risks are set forth under the captions "Item 1A. Risk Factors" and "Forward-Looking Statements" in our annual report on Form 10-K and under the caption "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" (or similar captions) in our quarterly reports on Form 10-Q, and described from time to time in the Company's filings with the SEC. For forward-looking statements herein, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Contact Information

  • Company Contact:
    Tim Martin
    Chief Financial Officer
    (610) 293-5700