SOURCE: U-Store-It

February 21, 2007 16:00 ET

U-Store-It Declares First Quarter 2007 Dividend and Names David J. LaRue as Audit Committee Chairman

CLEVELAND, OH -- (MARKET WIRE) -- February 21, 2007 -- U-Store-It Trust (NYSE: YSI), a self-administered and self-managed real estate investment trust focused on self-storage facilities, announced that its Board of Trustees declared a quarterly dividend of $0.29 per common share for the period ending March 31, 2007. The dividend is payable on April 24, 2007 to common shareholders of record on April 9, 2007.

The Company also announced the appointment of David J. LaRue as Chairman of the Audit Committee effective immediately. Mr. LaRue replaces William M. Diefenderfer who was named Chairman of the Board of Trustees effective February 14, 2007.

About U-Store-It Trust

U-Store-It Trust is a self-administered and self-managed real estate investment trust. The Company's self-storage facilities are designed to offer affordable, easily-accessible and secure storage space for residential and commercial customers. According to the Self-Storage Almanac, U-Store-It Trust is one of the top five owners and operators of self-storage facilities in the United States.

Forward-Looking Statements

Certain statements in this release that are not historical fact may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company to differ materially from historical results or from any results expressed or implied by such forward-looking statements, including without limitation: national and local economic, business, real estate and other market conditions; the competitive environment in which the Company operates; the execution of the Company's business plan; financing risks; increases in interest rates and operating costs; the Company's ability to maintain its status as a REIT for federal income tax purposes; acquisition and development risks; changes in real estate and zoning laws or regulations; risks related to natural disasters; potential environmental and other liabilities; and other factors affecting the real estate industry generally or the self-storage industry in particular. The Company refers you to the documents filed by the Company from time to time with the Securities and Exchange Commission, specifically the section titled "Business - Risk Factors" in the Company's Annual Report on Form 10-K, which discuss these and other risks and factors that could cause the Company's actual results to differ materially from any forward-looking statements.

Contact Information

  • Contact:
    U-Store-It Trust
    Christopher Marr
    Chief Financial Officer
    (440) 234-0700