5 Best Self-Storage REITs to Invest In: Strategies, Risks & Rewards

Top 5 self-storage REITs for 2025 investment – Public Storage, Extra Space, CubeSmart, SmartStop, NSA

Key Takeaways

Readers should apply these insights by evaluating REITs along these dimensions: market strategy, service innovation, and financial robustness when deciding where to invest or store.

  • PSA continues to enjoy a strong market position through high occupancy, consistent revenues, and acquisition-driven growth.
  • Extra Space Storage aims to grow in cities, leverage technology for customer experience and competitive pricing, and sustainability.
  • CubeSmart differentiates itself with distinct branding, a customer service focus, and alliances with local businesses.
  • It operates with a partnership business model, utilizing partnerships and joint ventures to expand and diversify its self-storage holdings.
  • Taking a look back at how some of the top self storage REITs performed this year in terms of financial performance, customer service, and innovation can shed light on this sector.

That’s because self storage REITs are real estate investment trusts that own, manage or finance self storage facilities. These trusts issue shares publicly, allowing individuals to invest in the self storage sector without direct ownership. The industry generates reliable income from customers who lease units for personal or commercial use. Top self storage REITs tend to have sizable property portfolios. This article lists top self storage REITs and breaks down their features.

1. Public Storage (PSA)

Public Storage is the biggest of the self-storage REITs and the largest player in the U.S. storage sector.

It controls approximately 9% of the country’s total self-storage space.

With more than 3,000 locations and 221 million rentable square feet, PSA’s scale is unmatched.

Many of its facilities are located in urban centers — often near major highways or interchanges.

This prime positioning ensures convenient access and high visibility.

If you live in LA or NYC, you’re likely within 10 minutes of a PSA location.

The sheer number of units means vacancies fill quickly, boosting revenue stability.

Key Metrics (as of Q3 2025):

  • Market Cap: ~.5 billion
  • Dividend Yield: 4.36%
  • Trailing 12-Month Revenue: .79 billion
  • Net Income (TTM): .91 billion (39.81% margin)
  • Core FFO per Share (Q3): .31
  • Occupancy Rate: 92.2%
  • Debt to Equity: 107.85%

Public Storage has delivered consistent growth through strong occupancy and strategic price increases.

Its occupancy rates exceed industry averages, ensuring reliable cash flow — even in volatile markets.

But scale comes with scrutiny.

Frontline workers reportedly earn –/hour, and PSA faced backlash for >10% price hikes after the 2017 Northern California wildfires — resulting in a 0,000 fine for price gouging.

Beyond storage, PSA manages 300+ third-party properties and sells tenant insurance.

While insurance offers peace of mind, it’s been controversial.

Regulators in two states criticized their practices, and a 2016 class-action lawsuit ended in a million settlement over misleading charges.

Growth comes primarily through acquisitions — filling geographic gaps and expanding unit types (including climate-controlled).

This strategy keeps PSA dominant in the global self-storage REIT market.

2. Extra Space Storage (EXR)

Extra Space Storage stands out for its tech-forward approach and urban market focus.

As of March 2024, EXR operated 3,714 locations across 43 states + D.C., totaling 2.6 million units and 283 million rentable square feet.

That makes it the second-largest owner/operator and the largest manager of self-storage in the U.S.

City residents benefit from multiple nearby locations, ideal for small apartments and busy lifestyles.

Key Metrics (as of Q3 2025):

  • Market Cap: ~.5 billion
  • Dividend Yield: 4.85%
  • Trailing 12-Month Revenue: ~.45 billion
  • Net Income (TTM): .32 billion
  • Core FFO per Share (2025 Guidance): .05–.25
  • Occupancy Rate: 93.7%
  • Debt to Equity: ~0.95x

EXR leads in digital innovation.

Customers can reserve, pay, and manage units fully online or via mobile app.

Most facilities include electronic gates, cameras, and keycode access — enhancing security and convenience.

Pricing is dynamic and competitive:

  • New renters get first-month-free or locked rates
  • Larger or long-term units earn deeper discounts

On sustainability, EXR ranks among the top 25 U.S. corporate solar users and won the NAREIT Leader in the Light Award from 2020–2022.

With .8 billion in assets and .32 billion in net income (Feb 2025), EXR proves growth and green initiatives can coexist.

3. CubeSmart (CUBE)

CubeSmart is instantly recognizable thanks to its bold red-and-blue branding and clean, modern facilities.

It operates over 1,200 locations nationwide, with a strong focus on digital marketing and user-friendly tech.

Customers can book online, take virtual tours, and reserve units in minutes — no calls or visits required.

Key Metrics (as of Q3 2025):

  • Market Cap: ~.2 billion
  • Dividend Yield: 5.33%
  • Trailing 12-Month Revenue: .10 billion
  • Net Income (TTM): 4.85 million (34.20% margin)
  • FFO per Share (Q3):

    Key Takeaways

    Readers should apply these insights by evaluating REITs along these dimensions: market strategy, service innovation, and financial robustness when deciding where to invest or store.

    • PSA continues to enjoy a strong market position through high occupancy, consistent revenues, and acquisition-driven growth.
    • Extra Space Storage aims to grow in cities, leverage technology for customer experience and competitive pricing, and sustainability.
    • CubeSmart differentiates itself with distinct branding, a customer service focus, and alliances with local businesses.
    • It operates with a partnership business model, utilizing partnerships and joint ventures to expand and diversify its self-storage holdings.
    • Taking a look back at how some of the top self storage REITs performed this year in terms of financial performance, customer service, and innovation can shed light on this sector.

    That’s because self storage REITs are real estate investment trusts that own, manage or finance self storage facilities. These trusts issue shares publicly, allowing individuals to invest in the self storage sector without direct ownership. The industry generates reliable income from customers who lease units for personal or commercial use. Top self storage REITs tend to have sizable property portfolios. This article lists top self storage REITs and breaks down their features.

    1. Public Storage (PSA)

    Public Storage is the biggest of the self-storage REITs and the largest player in the U.S. storage sector.

    It controls approximately 9% of the country’s total self-storage space.

    With more than 3,000 locations and 221 million rentable square feet, PSA’s scale is unmatched.

    Many of its facilities are located in urban centers — often near major highways or interchanges.

    This prime positioning ensures convenient access and high visibility.

    If you live in LA or NYC, you’re likely within 10 minutes of a PSA location.

    The sheer number of units means vacancies fill quickly, boosting revenue stability.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$50.5 billion
    • Dividend Yield: 4.36%
    • Trailing 12-Month Revenue: $4.79 billion
    • Net Income (TTM): $1.91 billion (39.81% margin)
    • Core FFO per Share (Q3): $4.31
    • Occupancy Rate: 92.2%
    • Debt to Equity: 107.85%

    Public Storage has delivered consistent growth through strong occupancy and strategic price increases.

    Its occupancy rates exceed industry averages, ensuring reliable cash flow — even in volatile markets.

    But scale comes with scrutiny.

    Frontline workers reportedly earn $9–$10/hour, and PSA faced backlash for >10% price hikes after the 2017 Northern California wildfires — resulting in a $140,000 fine for price gouging.

    Beyond storage, PSA manages 300+ third-party properties and sells tenant insurance.

    While insurance offers peace of mind, it’s been controversial.

    Regulators in two states criticized their practices, and a 2016 class-action lawsuit ended in a $5 million settlement over misleading charges.

    Growth comes primarily through acquisitions — filling geographic gaps and expanding unit types (including climate-controlled).

    This strategy keeps PSA dominant in the global self-storage REIT market.

    2. Extra Space Storage (EXR)

    Extra Space Storage stands out for its tech-forward approach and urban market focus.

    As of March 2024, EXR operated 3,714 locations across 43 states + D.C., totaling 2.6 million units and 283 million rentable square feet.

    That makes it the second-largest owner/operator and the largest manager of self-storage in the U.S.

    City residents benefit from multiple nearby locations, ideal for small apartments and busy lifestyles.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$29.5 billion
    • Dividend Yield: 4.85%
    • Trailing 12-Month Revenue: ~$2.45 billion
    • Net Income (TTM): $1.32 billion
    • Core FFO per Share (2025 Guidance): $8.05–$8.25
    • Occupancy Rate: 93.7%
    • Debt to Equity: ~0.95x

    EXR leads in digital innovation.

    Customers can reserve, pay, and manage units fully online or via mobile app.

    Most facilities include electronic gates, cameras, and keycode access — enhancing security and convenience.

    Pricing is dynamic and competitive:

    • New renters get first-month-free or locked rates
    • Larger or long-term units earn deeper discounts

    On sustainability, EXR ranks among the top 25 U.S. corporate solar users and won the NAREIT Leader in the Light Award from 2020–2022.

    With $28.8 billion in assets and $1.32 billion in net income (Feb 2025), EXR proves growth and green initiatives can coexist.

    3. CubeSmart (CUBE)

    CubeSmart is instantly recognizable thanks to its bold red-and-blue branding and clean, modern facilities.

    It operates over 1,200 locations nationwide, with a strong focus on digital marketing and user-friendly tech.

    Customers can book online, take virtual tours, and reserve units in minutes — no calls or visits required.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$10.2 billion
    • Dividend Yield: 5.33%
    • Trailing 12-Month Revenue: $1.10 billion
    • Net Income (TTM): $374.85 million (34.20% margin)
    • FFO per Share (Q3): $0.65
    • Occupancy Rate: 89.9%
    • Debt to Equity: 1.18

    Customer service is a core pillar.

    Staff are trained to help renters choose the right unit size — whether for seasonal gear or business inventory.

    Many locations offer free truck rentals for move-in.

    CubeSmart builds community through local charity drives, food bank support, and clean-up events.

    It owns 631 properties (45.8 million sq ft) across 25 states + D.C. and is self-managed — keeping costs low.

    The 2021 acquisition of Storage West ($1.7B) expanded its Western U.S. presence significantly.

    CubeSmart also partners with local movers, packing suppliers, and realtors — offering discounts and creating win-win relationships.

    4. National Storage Affiliates (NSA)

    NSA stands apart with its unique partnership model.

    Instead of building or buying alone, it teams up with regional operators — combining local expertise with national scale.

    A small Texas operator, for example, joins NSA and gains better marketing, tech, and purchasing power — while keeping day-to-day control.

    This lets NSA expand quickly with lower risk and cost.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$2.23 billion
    • Dividend Yield: 7.13%
    • Trailing 12-Month Revenue: ~$1.05 billion
    • Net Income (TTM): $96.5 million (9.16% margin)
    • Core FFO per Share (2025 Guidance): $2.17–$2.23
    • Occupancy Rate: 83.6%
    • Debt to Equity: 2.09

    Joint ventures (JVs) are central to growth.

    NSA co-owns and co-manages properties, sharing risk and reward.

    This structure shines in tough markets — partners absorb downturns together.

    Occupancy has hovered around 90% in recent years, driven by local pricing knowledge and same-store revenue growth.

    NSA operates in over 40 states, reducing exposure to regional slumps.

    A hurricane in Florida? Midwest and Northeast performance helps balance results.

    This geographic diversification makes NSA a resilient, income-focused pick in the self-storage REIT space.

    4. SmartStop Self Storage REIT (SMA)

    SmartStop Self Storage REIT is a technology-driven, self-managed powerhouse in the self-storage arena.

    It's fully integrated, with a team of over 1,000 professionals overseeing operations, customer service, and growth.

    As of November 2025, SmartStop owns or manages over 460 properties across 34 states, D.C., and Canada.

    This spans more than 270,000 units and 35 million rentable square feet — blending U.S. Sun Belt hotspots with Canadian diversification.

    Its North American focus shields against regional dips, while emphasizing high-growth urban edges.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$2.02 billion
    • Dividend Yield: 4.8% (annualized ~$0.13/share monthly)
    • Trailing 12-Month Revenue: ~$250 million
    • Net Income (TTM): $15.5 million
    • Adjusted FFO per Share (Q3): $0.47
    • Occupancy Rate: 92.6%
    • Debt to Equity: 2.17

    SmartStop's April 2025 NYSE debut supercharged liquidity for everyday investors.

    It sponsors non-traded REITs like Strategic Storage Growth Trust III and now offers third-party management post-Argus acquisition.

    That $32.1 million deal (upfront $21.1M + earnout) ballooned managed assets to 460+ properties, adding fee streams beyond ownership.

    In Q3 2025 alone, it inked a CAD $200 million Maple Bond (3.89% fixed) to slash debt, plus snapped up $90 million in premium assets — including Alberta portfolios, a New Jersey Class A site, and Florida expansions.

    Tech is its secret sauce:

    • AI-powered pricing and app-based bookings boost occupancy
    • Contactless entry and smart cameras draw tech-savvy city renters

    Pricing stays sharp and flexible, with demand-tied rates and first-month specials to snag newbies.

    Growth targets opportunistic deals in rebounding markets, holding leverage at 5–6x for agility.

    Same-store revenue climbed 2.5% in Q3, trumping peers in a shaky sector.

    Sustainability? It's piloting solar arrays and energy-efficient builds at key sites, nodding to green-minded tenants and cost savings.

    With Q3 net income at $5.2 million (up from losses), SmartStop shows smart bets yield big in self-storage REITs.

    Conclusion

    Self storage REITs provide an avenue to invest in real estate with less hassle. Industry giants Public Storage, Extra Space Storage, CubeSmart and National Storage Affiliates sustain consistent expansion by satisfying the robust demand for space. All three represent a combination of scale, footprint and history. To select the right fit, consider factors such as historical returns, fees and geographic distribution of each firm. These REITs tend to hold up well in slow times. For anyone looking to diversify and add tangible assets, self storage REITs are logical. Read more, see what’s new and what’s been rated before you buy. Keep your eyes peeled for new trends.

    Self-storage isn’t just a side niche — it’s a core pillar of specialty REITs.

    Want to explore data centers, cell towers, or timber? 👉 Read our full guide to Specialty REITs here

    Frequently Asked Questions

    What is a self storage REIT?

    A self storage REIT, like National Storage Affiliates Trust, manages storage facilities, allowing investors to buy shares and earn income from rental revenues in the storage sector.

    Why invest in self storage REITs?

    SELF STORAGE REITS, such as National Storage Affiliates Trust, provide stable income, diversification, and growth potential in the storage sector due to consistently high demand.

    How do Public Storage (PSA), Extra Space Storage (EXR), and CubeSmart (CUBE) compare?

    All three are top self storage REITs, with Public Storage being the biggest in the storage sector, Extra Space Storage focused on growth, and CubeSmart offering adaptable storage solutions, all demonstrating strong market footholds.

    Are self storage REITs safe investments?

    Self storage REITs, particularly those in the global self storage sector, have been deemed somewhat safe due to consistent demand for rentable space. Every investment is risky; thus, reviewing the financial results of storage REITs is essential before you invest.

    How do self storage REITs make money?

    They generate revenue by leasing storage units to customers, while ancillary services like insurance and packing supplies can enhance overall revenue in the storage sector.

    Can non-U.S. residents invest in self storage REITs?

    Indeed, many self storage REITs, including the National Storage Affiliates Trust, are publicly traded, allowing foreign investors to acquire shares through international stock markets or brokers.

    What are the main risks of investing in self storage REITs?

    Risks include market competition, shifting demand in the storage sector, and economic downturns, affecting storage REITs due to interest rates and property management expenses.

    .65
  • Occupancy Rate: 89.9%
  • Debt to Equity: 1.18

Customer service is a core pillar.

Staff are trained to help renters choose the right unit size — whether for seasonal gear or business inventory.

Many locations offer free truck rentals for move-in.

CubeSmart builds community through local charity drives, food bank support, and clean-up events.

It owns 631 properties (45.8 million sq ft) across 25 states + D.C. and is self-managed — keeping costs low.

The 2021 acquisition of Storage West (.7B) expanded its Western U.S. presence significantly.

CubeSmart also partners with local movers, packing suppliers, and realtors — offering discounts and creating win-win relationships.

4. National Storage Affiliates (NSA)

NSA stands apart with its unique partnership model.

Instead of building or buying alone, it teams up with regional operators — combining local expertise with national scale.

A small Texas operator, for example, joins NSA and gains better marketing, tech, and purchasing power — while keeping day-to-day control.

This lets NSA expand quickly with lower risk and cost.

Key Metrics (as of Q3 2025):

  • Market Cap: ~.23 billion
  • Dividend Yield: 7.13%
  • Trailing 12-Month Revenue: ~.05 billion
  • Net Income (TTM): .5 million (9.16% margin)
  • Core FFO per Share (2025 Guidance): .17–.23
  • Occupancy Rate: 83.6%
  • Debt to Equity: 2.09

Joint ventures (JVs) are central to growth.

NSA co-owns and co-manages properties, sharing risk and reward.

This structure shines in tough markets — partners absorb downturns together.

Occupancy has hovered around 90% in recent years, driven by local pricing knowledge and same-store revenue growth.

NSA operates in over 40 states, reducing exposure to regional slumps.

A hurricane in Florida? Midwest and Northeast performance helps balance results.

This geographic diversification makes NSA a resilient, income-focused pick in the self-storage REIT space.

4. SmartStop Self Storage REIT (SMA)

SmartStop Self Storage REIT is a technology-driven, self-managed powerhouse in the self-storage arena.

It’s fully integrated, with a team of over 1,000 professionals overseeing operations, customer service, and growth.

As of November 2025, SmartStop owns or manages over 460 properties across 34 states, D.C., and Canada.

This spans more than 270,000 units and 35 million rentable square feet — blending U.S. Sun Belt hotspots with Canadian diversification.

Its North American focus shields against regional dips, while emphasizing high-growth urban edges.

Key Metrics (as of Q3 2025):

  • Market Cap: ~.02 billion
  • Dividend Yield: 4.8% (annualized ~

    Key Takeaways

    Readers should apply these insights by evaluating REITs along these dimensions: market strategy, service innovation, and financial robustness when deciding where to invest or store.

    • PSA continues to enjoy a strong market position through high occupancy, consistent revenues, and acquisition-driven growth.
    • Extra Space Storage aims to grow in cities, leverage technology for customer experience and competitive pricing, and sustainability.
    • CubeSmart differentiates itself with distinct branding, a customer service focus, and alliances with local businesses.
    • It operates with a partnership business model, utilizing partnerships and joint ventures to expand and diversify its self-storage holdings.
    • Taking a look back at how some of the top self storage REITs performed this year in terms of financial performance, customer service, and innovation can shed light on this sector.

    That’s because self storage REITs are real estate investment trusts that own, manage or finance self storage facilities. These trusts issue shares publicly, allowing individuals to invest in the self storage sector without direct ownership. The industry generates reliable income from customers who lease units for personal or commercial use. Top self storage REITs tend to have sizable property portfolios. This article lists top self storage REITs and breaks down their features.

    1. Public Storage (PSA)

    Public Storage is the biggest of the self-storage REITs and the largest player in the U.S. storage sector.

    It controls approximately 9% of the country’s total self-storage space.

    With more than 3,000 locations and 221 million rentable square feet, PSA’s scale is unmatched.

    Many of its facilities are located in urban centers — often near major highways or interchanges.

    This prime positioning ensures convenient access and high visibility.

    If you live in LA or NYC, you’re likely within 10 minutes of a PSA location.

    The sheer number of units means vacancies fill quickly, boosting revenue stability.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$50.5 billion
    • Dividend Yield: 4.36%
    • Trailing 12-Month Revenue: $4.79 billion
    • Net Income (TTM): $1.91 billion (39.81% margin)
    • Core FFO per Share (Q3): $4.31
    • Occupancy Rate: 92.2%
    • Debt to Equity: 107.85%

    Public Storage has delivered consistent growth through strong occupancy and strategic price increases.

    Its occupancy rates exceed industry averages, ensuring reliable cash flow — even in volatile markets.

    But scale comes with scrutiny.

    Frontline workers reportedly earn $9–$10/hour, and PSA faced backlash for >10% price hikes after the 2017 Northern California wildfires — resulting in a $140,000 fine for price gouging.

    Beyond storage, PSA manages 300+ third-party properties and sells tenant insurance.

    While insurance offers peace of mind, it’s been controversial.

    Regulators in two states criticized their practices, and a 2016 class-action lawsuit ended in a $5 million settlement over misleading charges.

    Growth comes primarily through acquisitions — filling geographic gaps and expanding unit types (including climate-controlled).

    This strategy keeps PSA dominant in the global self-storage REIT market.

    2. Extra Space Storage (EXR)

    Extra Space Storage stands out for its tech-forward approach and urban market focus.

    As of March 2024, EXR operated 3,714 locations across 43 states + D.C., totaling 2.6 million units and 283 million rentable square feet.

    That makes it the second-largest owner/operator and the largest manager of self-storage in the U.S.

    City residents benefit from multiple nearby locations, ideal for small apartments and busy lifestyles.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$29.5 billion
    • Dividend Yield: 4.85%
    • Trailing 12-Month Revenue: ~$2.45 billion
    • Net Income (TTM): $1.32 billion
    • Core FFO per Share (2025 Guidance): $8.05–$8.25
    • Occupancy Rate: 93.7%
    • Debt to Equity: ~0.95x

    EXR leads in digital innovation.

    Customers can reserve, pay, and manage units fully online or via mobile app.

    Most facilities include electronic gates, cameras, and keycode access — enhancing security and convenience.

    Pricing is dynamic and competitive:

    • New renters get first-month-free or locked rates
    • Larger or long-term units earn deeper discounts

    On sustainability, EXR ranks among the top 25 U.S. corporate solar users and won the NAREIT Leader in the Light Award from 2020–2022.

    With $28.8 billion in assets and $1.32 billion in net income (Feb 2025), EXR proves growth and green initiatives can coexist.

    3. CubeSmart (CUBE)

    CubeSmart is instantly recognizable thanks to its bold red-and-blue branding and clean, modern facilities.

    It operates over 1,200 locations nationwide, with a strong focus on digital marketing and user-friendly tech.

    Customers can book online, take virtual tours, and reserve units in minutes — no calls or visits required.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$10.2 billion
    • Dividend Yield: 5.33%
    • Trailing 12-Month Revenue: $1.10 billion
    • Net Income (TTM): $374.85 million (34.20% margin)
    • FFO per Share (Q3): $0.65
    • Occupancy Rate: 89.9%
    • Debt to Equity: 1.18

    Customer service is a core pillar.

    Staff are trained to help renters choose the right unit size — whether for seasonal gear or business inventory.

    Many locations offer free truck rentals for move-in.

    CubeSmart builds community through local charity drives, food bank support, and clean-up events.

    It owns 631 properties (45.8 million sq ft) across 25 states + D.C. and is self-managed — keeping costs low.

    The 2021 acquisition of Storage West ($1.7B) expanded its Western U.S. presence significantly.

    CubeSmart also partners with local movers, packing suppliers, and realtors — offering discounts and creating win-win relationships.

    4. National Storage Affiliates (NSA)

    NSA stands apart with its unique partnership model.

    Instead of building or buying alone, it teams up with regional operators — combining local expertise with national scale.

    A small Texas operator, for example, joins NSA and gains better marketing, tech, and purchasing power — while keeping day-to-day control.

    This lets NSA expand quickly with lower risk and cost.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$2.23 billion
    • Dividend Yield: 7.13%
    • Trailing 12-Month Revenue: ~$1.05 billion
    • Net Income (TTM): $96.5 million (9.16% margin)
    • Core FFO per Share (2025 Guidance): $2.17–$2.23
    • Occupancy Rate: 83.6%
    • Debt to Equity: 2.09

    Joint ventures (JVs) are central to growth.

    NSA co-owns and co-manages properties, sharing risk and reward.

    This structure shines in tough markets — partners absorb downturns together.

    Occupancy has hovered around 90% in recent years, driven by local pricing knowledge and same-store revenue growth.

    NSA operates in over 40 states, reducing exposure to regional slumps.

    A hurricane in Florida? Midwest and Northeast performance helps balance results.

    This geographic diversification makes NSA a resilient, income-focused pick in the self-storage REIT space.

    4. SmartStop Self Storage REIT (SMA)

    SmartStop Self Storage REIT is a technology-driven, self-managed powerhouse in the self-storage arena.

    It's fully integrated, with a team of over 1,000 professionals overseeing operations, customer service, and growth.

    As of November 2025, SmartStop owns or manages over 460 properties across 34 states, D.C., and Canada.

    This spans more than 270,000 units and 35 million rentable square feet — blending U.S. Sun Belt hotspots with Canadian diversification.

    Its North American focus shields against regional dips, while emphasizing high-growth urban edges.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$2.02 billion
    • Dividend Yield: 4.8% (annualized ~$0.13/share monthly)
    • Trailing 12-Month Revenue: ~$250 million
    • Net Income (TTM): $15.5 million
    • Adjusted FFO per Share (Q3): $0.47
    • Occupancy Rate: 92.6%
    • Debt to Equity: 2.17

    SmartStop's April 2025 NYSE debut supercharged liquidity for everyday investors.

    It sponsors non-traded REITs like Strategic Storage Growth Trust III and now offers third-party management post-Argus acquisition.

    That $32.1 million deal (upfront $21.1M + earnout) ballooned managed assets to 460+ properties, adding fee streams beyond ownership.

    In Q3 2025 alone, it inked a CAD $200 million Maple Bond (3.89% fixed) to slash debt, plus snapped up $90 million in premium assets — including Alberta portfolios, a New Jersey Class A site, and Florida expansions.

    Tech is its secret sauce:

    • AI-powered pricing and app-based bookings boost occupancy
    • Contactless entry and smart cameras draw tech-savvy city renters

    Pricing stays sharp and flexible, with demand-tied rates and first-month specials to snag newbies.

    Growth targets opportunistic deals in rebounding markets, holding leverage at 5–6x for agility.

    Same-store revenue climbed 2.5% in Q3, trumping peers in a shaky sector.

    Sustainability? It's piloting solar arrays and energy-efficient builds at key sites, nodding to green-minded tenants and cost savings.

    With Q3 net income at $5.2 million (up from losses), SmartStop shows smart bets yield big in self-storage REITs.

    Conclusion

    Self storage REITs provide an avenue to invest in real estate with less hassle. Industry giants Public Storage, Extra Space Storage, CubeSmart and National Storage Affiliates sustain consistent expansion by satisfying the robust demand for space. All three represent a combination of scale, footprint and history. To select the right fit, consider factors such as historical returns, fees and geographic distribution of each firm. These REITs tend to hold up well in slow times. For anyone looking to diversify and add tangible assets, self storage REITs are logical. Read more, see what’s new and what’s been rated before you buy. Keep your eyes peeled for new trends.

    Self-storage isn’t just a side niche — it’s a core pillar of specialty REITs.

    Want to explore data centers, cell towers, or timber? 👉 Read our full guide to Specialty REITs here

    Frequently Asked Questions

    What is a self storage REIT?

    A self storage REIT, like National Storage Affiliates Trust, manages storage facilities, allowing investors to buy shares and earn income from rental revenues in the storage sector.

    Why invest in self storage REITs?

    SELF STORAGE REITS, such as National Storage Affiliates Trust, provide stable income, diversification, and growth potential in the storage sector due to consistently high demand.

    How do Public Storage (PSA), Extra Space Storage (EXR), and CubeSmart (CUBE) compare?

    All three are top self storage REITs, with Public Storage being the biggest in the storage sector, Extra Space Storage focused on growth, and CubeSmart offering adaptable storage solutions, all demonstrating strong market footholds.

    Are self storage REITs safe investments?

    Self storage REITs, particularly those in the global self storage sector, have been deemed somewhat safe due to consistent demand for rentable space. Every investment is risky; thus, reviewing the financial results of storage REITs is essential before you invest.

    How do self storage REITs make money?

    They generate revenue by leasing storage units to customers, while ancillary services like insurance and packing supplies can enhance overall revenue in the storage sector.

    Can non-U.S. residents invest in self storage REITs?

    Indeed, many self storage REITs, including the National Storage Affiliates Trust, are publicly traded, allowing foreign investors to acquire shares through international stock markets or brokers.

    What are the main risks of investing in self storage REITs?

    Risks include market competition, shifting demand in the storage sector, and economic downturns, affecting storage REITs due to interest rates and property management expenses.

    .13/share monthly)
  • Trailing 12-Month Revenue: ~0 million
  • Net Income (TTM): .5 million
  • Adjusted FFO per Share (Q3):

    Key Takeaways

    Readers should apply these insights by evaluating REITs along these dimensions: market strategy, service innovation, and financial robustness when deciding where to invest or store.

    • PSA continues to enjoy a strong market position through high occupancy, consistent revenues, and acquisition-driven growth.
    • Extra Space Storage aims to grow in cities, leverage technology for customer experience and competitive pricing, and sustainability.
    • CubeSmart differentiates itself with distinct branding, a customer service focus, and alliances with local businesses.
    • It operates with a partnership business model, utilizing partnerships and joint ventures to expand and diversify its self-storage holdings.
    • Taking a look back at how some of the top self storage REITs performed this year in terms of financial performance, customer service, and innovation can shed light on this sector.

    That’s because self storage REITs are real estate investment trusts that own, manage or finance self storage facilities. These trusts issue shares publicly, allowing individuals to invest in the self storage sector without direct ownership. The industry generates reliable income from customers who lease units for personal or commercial use. Top self storage REITs tend to have sizable property portfolios. This article lists top self storage REITs and breaks down their features.

    1. Public Storage (PSA)

    Public Storage is the biggest of the self-storage REITs and the largest player in the U.S. storage sector.

    It controls approximately 9% of the country’s total self-storage space.

    With more than 3,000 locations and 221 million rentable square feet, PSA’s scale is unmatched.

    Many of its facilities are located in urban centers — often near major highways or interchanges.

    This prime positioning ensures convenient access and high visibility.

    If you live in LA or NYC, you’re likely within 10 minutes of a PSA location.

    The sheer number of units means vacancies fill quickly, boosting revenue stability.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$50.5 billion
    • Dividend Yield: 4.36%
    • Trailing 12-Month Revenue: $4.79 billion
    • Net Income (TTM): $1.91 billion (39.81% margin)
    • Core FFO per Share (Q3): $4.31
    • Occupancy Rate: 92.2%
    • Debt to Equity: 107.85%

    Public Storage has delivered consistent growth through strong occupancy and strategic price increases.

    Its occupancy rates exceed industry averages, ensuring reliable cash flow — even in volatile markets.

    But scale comes with scrutiny.

    Frontline workers reportedly earn $9–$10/hour, and PSA faced backlash for >10% price hikes after the 2017 Northern California wildfires — resulting in a $140,000 fine for price gouging.

    Beyond storage, PSA manages 300+ third-party properties and sells tenant insurance.

    While insurance offers peace of mind, it’s been controversial.

    Regulators in two states criticized their practices, and a 2016 class-action lawsuit ended in a $5 million settlement over misleading charges.

    Growth comes primarily through acquisitions — filling geographic gaps and expanding unit types (including climate-controlled).

    This strategy keeps PSA dominant in the global self-storage REIT market.

    2. Extra Space Storage (EXR)

    Extra Space Storage stands out for its tech-forward approach and urban market focus.

    As of March 2024, EXR operated 3,714 locations across 43 states + D.C., totaling 2.6 million units and 283 million rentable square feet.

    That makes it the second-largest owner/operator and the largest manager of self-storage in the U.S.

    City residents benefit from multiple nearby locations, ideal for small apartments and busy lifestyles.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$29.5 billion
    • Dividend Yield: 4.85%
    • Trailing 12-Month Revenue: ~$2.45 billion
    • Net Income (TTM): $1.32 billion
    • Core FFO per Share (2025 Guidance): $8.05–$8.25
    • Occupancy Rate: 93.7%
    • Debt to Equity: ~0.95x

    EXR leads in digital innovation.

    Customers can reserve, pay, and manage units fully online or via mobile app.

    Most facilities include electronic gates, cameras, and keycode access — enhancing security and convenience.

    Pricing is dynamic and competitive:

    • New renters get first-month-free or locked rates
    • Larger or long-term units earn deeper discounts

    On sustainability, EXR ranks among the top 25 U.S. corporate solar users and won the NAREIT Leader in the Light Award from 2020–2022.

    With $28.8 billion in assets and $1.32 billion in net income (Feb 2025), EXR proves growth and green initiatives can coexist.

    3. CubeSmart (CUBE)

    CubeSmart is instantly recognizable thanks to its bold red-and-blue branding and clean, modern facilities.

    It operates over 1,200 locations nationwide, with a strong focus on digital marketing and user-friendly tech.

    Customers can book online, take virtual tours, and reserve units in minutes — no calls or visits required.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$10.2 billion
    • Dividend Yield: 5.33%
    • Trailing 12-Month Revenue: $1.10 billion
    • Net Income (TTM): $374.85 million (34.20% margin)
    • FFO per Share (Q3): $0.65
    • Occupancy Rate: 89.9%
    • Debt to Equity: 1.18

    Customer service is a core pillar.

    Staff are trained to help renters choose the right unit size — whether for seasonal gear or business inventory.

    Many locations offer free truck rentals for move-in.

    CubeSmart builds community through local charity drives, food bank support, and clean-up events.

    It owns 631 properties (45.8 million sq ft) across 25 states + D.C. and is self-managed — keeping costs low.

    The 2021 acquisition of Storage West ($1.7B) expanded its Western U.S. presence significantly.

    CubeSmart also partners with local movers, packing suppliers, and realtors — offering discounts and creating win-win relationships.

    4. National Storage Affiliates (NSA)

    NSA stands apart with its unique partnership model.

    Instead of building or buying alone, it teams up with regional operators — combining local expertise with national scale.

    A small Texas operator, for example, joins NSA and gains better marketing, tech, and purchasing power — while keeping day-to-day control.

    This lets NSA expand quickly with lower risk and cost.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$2.23 billion
    • Dividend Yield: 7.13%
    • Trailing 12-Month Revenue: ~$1.05 billion
    • Net Income (TTM): $96.5 million (9.16% margin)
    • Core FFO per Share (2025 Guidance): $2.17–$2.23
    • Occupancy Rate: 83.6%
    • Debt to Equity: 2.09

    Joint ventures (JVs) are central to growth.

    NSA co-owns and co-manages properties, sharing risk and reward.

    This structure shines in tough markets — partners absorb downturns together.

    Occupancy has hovered around 90% in recent years, driven by local pricing knowledge and same-store revenue growth.

    NSA operates in over 40 states, reducing exposure to regional slumps.

    A hurricane in Florida? Midwest and Northeast performance helps balance results.

    This geographic diversification makes NSA a resilient, income-focused pick in the self-storage REIT space.

    4. SmartStop Self Storage REIT (SMA)

    SmartStop Self Storage REIT is a technology-driven, self-managed powerhouse in the self-storage arena.

    It's fully integrated, with a team of over 1,000 professionals overseeing operations, customer service, and growth.

    As of November 2025, SmartStop owns or manages over 460 properties across 34 states, D.C., and Canada.

    This spans more than 270,000 units and 35 million rentable square feet — blending U.S. Sun Belt hotspots with Canadian diversification.

    Its North American focus shields against regional dips, while emphasizing high-growth urban edges.

    Key Metrics (as of Q3 2025):

    • Market Cap: ~$2.02 billion
    • Dividend Yield: 4.8% (annualized ~$0.13/share monthly)
    • Trailing 12-Month Revenue: ~$250 million
    • Net Income (TTM): $15.5 million
    • Adjusted FFO per Share (Q3): $0.47
    • Occupancy Rate: 92.6%
    • Debt to Equity: 2.17

    SmartStop's April 2025 NYSE debut supercharged liquidity for everyday investors.

    It sponsors non-traded REITs like Strategic Storage Growth Trust III and now offers third-party management post-Argus acquisition.

    That $32.1 million deal (upfront $21.1M + earnout) ballooned managed assets to 460+ properties, adding fee streams beyond ownership.

    In Q3 2025 alone, it inked a CAD $200 million Maple Bond (3.89% fixed) to slash debt, plus snapped up $90 million in premium assets — including Alberta portfolios, a New Jersey Class A site, and Florida expansions.

    Tech is its secret sauce:

    • AI-powered pricing and app-based bookings boost occupancy
    • Contactless entry and smart cameras draw tech-savvy city renters

    Pricing stays sharp and flexible, with demand-tied rates and first-month specials to snag newbies.

    Growth targets opportunistic deals in rebounding markets, holding leverage at 5–6x for agility.

    Same-store revenue climbed 2.5% in Q3, trumping peers in a shaky sector.

    Sustainability? It's piloting solar arrays and energy-efficient builds at key sites, nodding to green-minded tenants and cost savings.

    With Q3 net income at $5.2 million (up from losses), SmartStop shows smart bets yield big in self-storage REITs.

    Conclusion

    Self storage REITs provide an avenue to invest in real estate with less hassle. Industry giants Public Storage, Extra Space Storage, CubeSmart and National Storage Affiliates sustain consistent expansion by satisfying the robust demand for space. All three represent a combination of scale, footprint and history. To select the right fit, consider factors such as historical returns, fees and geographic distribution of each firm. These REITs tend to hold up well in slow times. For anyone looking to diversify and add tangible assets, self storage REITs are logical. Read more, see what’s new and what’s been rated before you buy. Keep your eyes peeled for new trends.

    Self-storage isn’t just a side niche — it’s a core pillar of specialty REITs.

    Want to explore data centers, cell towers, or timber? 👉 Read our full guide to Specialty REITs here

    Frequently Asked Questions

    What is a self storage REIT?

    A self storage REIT, like National Storage Affiliates Trust, manages storage facilities, allowing investors to buy shares and earn income from rental revenues in the storage sector.

    Why invest in self storage REITs?

    SELF STORAGE REITS, such as National Storage Affiliates Trust, provide stable income, diversification, and growth potential in the storage sector due to consistently high demand.

    How do Public Storage (PSA), Extra Space Storage (EXR), and CubeSmart (CUBE) compare?

    All three are top self storage REITs, with Public Storage being the biggest in the storage sector, Extra Space Storage focused on growth, and CubeSmart offering adaptable storage solutions, all demonstrating strong market footholds.

    Are self storage REITs safe investments?

    Self storage REITs, particularly those in the global self storage sector, have been deemed somewhat safe due to consistent demand for rentable space. Every investment is risky; thus, reviewing the financial results of storage REITs is essential before you invest.

    How do self storage REITs make money?

    They generate revenue by leasing storage units to customers, while ancillary services like insurance and packing supplies can enhance overall revenue in the storage sector.

    Can non-U.S. residents invest in self storage REITs?

    Indeed, many self storage REITs, including the National Storage Affiliates Trust, are publicly traded, allowing foreign investors to acquire shares through international stock markets or brokers.

    What are the main risks of investing in self storage REITs?

    Risks include market competition, shifting demand in the storage sector, and economic downturns, affecting storage REITs due to interest rates and property management expenses.

    .47
  • Occupancy Rate: 92.6%
  • Debt to Equity: 2.17

SmartStop’s April 2025 NYSE debut supercharged liquidity for everyday investors.

It sponsors non-traded REITs like Strategic Storage Growth Trust III and now offers third-party management post-Argus acquisition.

That .1 million deal (upfront .1M + earnout) ballooned managed assets to 460+ properties, adding fee streams beyond ownership.

In Q3 2025 alone, it inked a CAD 0 million Maple Bond (3.89% fixed) to slash debt, plus snapped up million in premium assets — including Alberta portfolios, a New Jersey Class A site, and Florida expansions.

Tech is its secret sauce:

  • AI-powered pricing and app-based bookings boost occupancy
  • Contactless entry and smart cameras draw tech-savvy city renters

Pricing stays sharp and flexible, with demand-tied rates and first-month specials to snag newbies.

Growth targets opportunistic deals in rebounding markets, holding leverage at 5–6x for agility.

Same-store revenue climbed 2.5% in Q3, trumping peers in a shaky sector.

Sustainability? It’s piloting solar arrays and energy-efficient builds at key sites, nodding to green-minded tenants and cost savings.

With Q3 net income at .2 million (up from losses), SmartStop shows smart bets yield big in self-storage REITs.

Conclusion

Self storage REITs provide an avenue to invest in real estate with less hassle. Industry giants Public Storage, Extra Space Storage, CubeSmart and National Storage Affiliates sustain consistent expansion by satisfying the robust demand for space. All three represent a combination of scale, footprint and history. To select the right fit, consider factors such as historical returns, fees and geographic distribution of each firm. These REITs tend to hold up well in slow times. For anyone looking to diversify and add tangible assets, self storage REITs are logical. Read more, see what’s new and what’s been rated before you buy. Keep your eyes peeled for new trends.

Self-storage isn’t just a side niche — it’s a core pillar of specialty REITs.

Want to explore data centers, cell towers, or timber? 👉 Read our full guide to Specialty REITs here

Frequently Asked Questions

What is a self storage REIT?

A self storage REIT, like National Storage Affiliates Trust, manages storage facilities, allowing investors to buy shares and earn income from rental revenues in the storage sector.

Why invest in self storage REITs?

SELF STORAGE REITS, such as National Storage Affiliates Trust, provide stable income, diversification, and growth potential in the storage sector due to consistently high demand.

How do Public Storage (PSA), Extra Space Storage (EXR), and CubeSmart (CUBE) compare?

All three are top self storage REITs, with Public Storage being the biggest in the storage sector, Extra Space Storage focused on growth, and CubeSmart offering adaptable storage solutions, all demonstrating strong market footholds.

Are self storage REITs safe investments?

Self storage REITs, particularly those in the global self storage sector, have been deemed somewhat safe due to consistent demand for rentable space. Every investment is risky; thus, reviewing the financial results of storage REITs is essential before you invest.

How do self storage REITs make money?

They generate revenue by leasing storage units to customers, while ancillary services like insurance and packing supplies can enhance overall revenue in the storage sector.

Can non-U.S. residents invest in self storage REITs?

Indeed, many self storage REITs, including the National Storage Affiliates Trust, are publicly traded, allowing foreign investors to acquire shares through international stock markets or brokers.

What are the main risks of investing in self storage REITs?

Risks include market competition, shifting demand in the storage sector, and economic downturns, affecting storage REITs due to interest rates and property management expenses.

Japheth

About The Author

Japheth is the founder of Bullishfow.com, where he shares insights on investing.

Share this article:

The Exact System I Use To Make $500-$10k/Month Trading Stocks

Learn dividend strategies, options trading, and cash-flow techniques that work in any market. Limited-time enrollment open now.

You might also like

No posts found...