2 Storage Center REITs With Yields Up to 6%
Storage center real estate investment trusts (REITs) are companies that specialize in owning and operating income-generating storage facilities, commonly known as self-storage centers. Storage center REITs invest in properties where individuals and businesses can rent space to store their belongings, such as furniture, household items, business inventory, and vehicles of all types.
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.
CubeSmart
CubeSmart (NYSE:CUBE) owns or manages nearly 1,400 self-storage properties across the United States, making it one of the three largest self-storage operators in the U.S., according to the 2023 Self Storage Almanac.
CubeSmart currently pays a quarterly dividend of $0.51 per share, equating to $2.04 per share annually, which gives it a yield of about 4.55% today. The company also raised its dividend this past December, marking its 14th consecutive annual increase.
Don't Miss:
Investing in real estate just got a whole lot simpler. This Dara Khosrowshahi-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100.
Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus & Millichap is changing that, allowing individuals to invest in commercial real estate with as little as $5,000.
National Storage Affiliates Trust
National Storage Affiliates Trust (NYSE:NSA) has ownership interest in and operates over 1,100 self-storage properties across 42 U.S. states and Puerto Rico as of September 30, 2023.
National Storage currently pays a quarterly dividend of $0.56 per share, equating to $2.24 per share annually, which gives it a yield of about 6% at current levels. Like CubeSmart, National Storage is both a high-yield and dividend-growth play, having increased its annual dividend every year since its 2015 initial public offering.
Read Next:
Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus & Millichap is changing that, allowing individuals to invest in commercial real estate with as little as $5,000.
Collecting passive income from real estate just got a whole lot simpler. A new real estate fund backed by Dara Khosrowshahi gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.
Image Credit: Shutterstock
"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!
Get the latest stock analysis from Benzinga?
This article 2 Storage Center REITs With Yields Up to 6% originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
