Real estate prices remain elevated, and while this has hurt several industries directly connected to the housing market, some secondary and tertiary industries have immensely benefited. One of the beneficiaries is the $20+ billion storage industry, as the elevated housing prices are forcing many Americans to turn to storage solutions as a way to economically maximize their living spaces. We’ve entered this space with our latest Best Real Estate Dividend Stocks List pick.
Several tailwinds are driving massive growth for storage operators, both via organic and inorganic mediums, and our latest pick is poised to take advantage of both channels.
Though the company has a market cap of more than $10 billion, it has plenty of room for expansion as it currently operates in just 25 states and has a management team that continues to show an aptitude for making excellent acquisition decisions.
Plus, the company recently increased its quarterly dividend by 25%+, a testament to its strong balance sheet and cash-rich business model.
Succinctly, we believe it’s one of the best-run self-storage REITs out there, so watch out for it when it goes ex-dividend on Monday, July 4 (estimated date).
To clear the way for this moderate growth and income stock, we removed another REIT from our list.
You can check out the Best Real Estate Dividend Stocks List to explore all the stocks.
