Investors in storage center REITs benefit from the income generated through leasing storage units to tenants. The demand for self-storage has been driven by various factors, including residential moves, downsizing, and businesses seeking additional space.

If you're interested in investing in a storage center, here are two attractive options.

Public Storage

Public Storage (NYSE:PSA) is one of the world's largest owners, operators, and developers of self-storage facilities with more that 2,900 facilities across the U.S.

Public Storage currently pays a quarterly dividend of $3.00 per share, equating to $12.00 per share annually, giving it a yield of about 4.1% at current levels. The company has also raised its dividend 12 times since 2008 and paid out a big $13.15 per share special dividend in 2022, so investors can count it as both a high yield and dividend-growth play.

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Extra Space Storage

Extra Space Storage (NYSE:EXR) owns and/or operates 3,651 self-storage properties across the U.S. as of September 30, 2023.

Extra Space currently pays a quarterly dividend of $1.62 per share, equating to $6.48 per share annually, giving it a yield of about 4.3% at current levels. It has also raised its annual dividend for 14 consecutive years, making it qualify as both a high yield and dividend-growth stock.

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