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Self-storage center real estate investment trusts (REITs) specialize in owning and operating income-generating storage facilities. The demand for self-storage has been driven by various factors, including residential moves, downsizing, and businesses seeking additional space.

Investors in self-storage center 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.

If you're interested in investing in a self-storage REIT, here are four you could buy today.

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Public Storage

As of June 30, Public Storage (NYSE:PSA) owns 3,049 self-storage properties containing approximately 219 million net rentable square feet across 40 states. It also owns a 35% interest in Shurgard Self Storage Limited, which owns and manages 281 self-storage properties across seven Western European nations.

Public Storage currently pays a quarterly dividend of $3.00 per share, which equates to an annualized dividend of $12.00 per share and gives its stock a yield of about 3.8% at the time of this writing.

In addition to offering a high yield, Public Storage has a track record of dividend growth. It has raised its dividend 12 times since 2007, with its last being a 50% increase in February 2023.

National Storage Affiliates Trust

As of June 30, National Storage Affiliates Trust (NYSE:NSA) owned ownership interests in 1,052 self-storage properties in 42 states and Puerto Rico, which contain approximately 68.8 million rentable square feet.

National Storage currently pays a quarterly dividend of $0.56 per share, which equates to an annualized dividend of $2.24 per share and gives its stock a yield of about 5.2% at the time of this writing.

National Storage has consistently delivered dividend growth since its initial public offering in 2015. It has raised its annual dividend payment every year since 2015, including its 1.8% hike in June 2023, which put it on track for 2024 to mark the ninth consecutive year with an annual increase.

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Extra Space Storage

As of June 30, Extra Space Storage (NYSE:EXR) owns and/or operates 3,812 self-storage properties containing approximately 2.6 million units and 292.1 million square feet of rentable space. Its properties are located across 42 states and Washington, D.C.

Extra Space currently pays a quarterly dividend of $1.62 per share, which equates to an annualized dividend of $6.48 per share and gives its stock a yield of about 3.9% at the time of this writing.

Like National Storage, Extra Space has consistently grown its dividend. It has raised its annual dividend payment each of the last 14 years, but this streak could end if it does not announce a dividend increase before the end of the year.

CubeSmart

As of June 30, CubeSmart (NYSE:CUBE) owns and/or manages 1,494 self-storage properties in 182 markets across 41 states and the District of Columbia.

CubeSmart currently pays a quarterly dividend of $0.51 per share, which equates to an annualized dividend of $2.04 per share and gives its stock a yield of about 4.3%.

Like National Storage and Extra Space Storage, CubeSmart has an active streak of annual dividend increases, including a five-year growth rate of 62%. Its latest dividend increase was a 4.1% hike last December, which marked the 14th consecutive year in which it has raised its annual dividend payment.

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This article 4 Self-Storage REITs Yielding 3-6% To Buy In August originally appeared on Benzinga.com