Stock Up On Storage: 3 High-Yield Stocks To Buy And Hold As Americans Hoard More Than Ever Before (NSA, EXR, CUBE)

As Americans accumulate more belongings than ever, the demand for storage space is booming. Self-storage center real estate investment trusts (REITs) specialize in owning and operating income-generating storage facilities.

Investors in self-storage REITs benefit from the income generated through leasing storage units to tenants. Like other REITs, self-storage REITs must distribute a significant portion of their income to shareholders as dividends.

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If you're interested in self-storage REITs, here are three high-quality options you could invest in today.

National Storage Affiliates Trust

As of June 30, National Storage Affiliates Trust NSA owned and operated 1,052 self-storage properties containing approximately 68.8 million rentable square feet in 42 states and Puerto Rico.

According to company filings from August 2024, National Storage pays a quarterly dividend of $0.56 per share, which results in an annualized dividend of $2.24 per share and gives its stock a 5.2% yield at the time of this writing.

National Storage has been a consistent source of dividend growth since its initial public offering in 2015. It has raised its annual dividend payment each year since, which puts it on track for 2024 to mark the ninth consecutive year with an increase.

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Extra Space Storage

As of June 30, Extra Space Storage EXR owned and/or operated 3,812 self-storage properties containing approximately 292 million square feet of rentable space across 42 states and Washington D.C. 

According to company filings from August 2024, Extra Space pays a quarterly dividend of $1.62 per share, which results in an annualized dividend of $6.48 per share and gives its stock a 3.9% yield at the time of this writing.

Extra Space also has an impressive streak of annual dividend increases, currently 14 straight years. However, this streak will end if the company does not raise its payout before the end of the year.

CubeSmart

On June 30, CubeSmart CUBE owned or managed 1,494 self-storage properties across 185 markets in 40 states and the District of Columbia.

According to company filings from July 2024, CubeSmart pays a quarterly dividend of $0.51 per share, which results in an annualized dividend of $2.04 per share and gives its stock a 4.2% yield at the time of this writing.

Like National Storage and Extra Space, CubeSmart has consistently delivered dividend growth for its shareholders with a streak currently standing at 14 straight years. The company traditionally raises its dividend in early December, so investors should look for its next increase in less than two months.

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