National Storage Affiliates Trust (NSA) will raise its quarterly dividend by another 9.8 percent to 45 cents per share. This marks the third dividend hike announced by the self storage REIT in 2021.

The increased NSA dividend of $0.45 per share is payable on December 30, 2021 to shareholders of record on December 15, 2021. A new annual rate of $1.90 per share for NSA yields 2.8% at a stock price of $61. National Storage Affiliates Trust will now pay an estimated annual dividend of $160 million to its shareholders.

Tamara Fischer, President and Chief Executive Officer, commented, “We are pleased to raise our dividend for the third time this year, representing an almost 30% increase from last year’s fourth quarter rate. The powerful combination of internal and external growth facilitated by our differentiated PRO structure continues to deliver robust returns for shareholders.”

National Storage Affiliates Trust is a real estate investment trust focused on the ownership, operation and acquisition of self-storage properties located within metropolitan areas throughout the United States. The company owns and operates self storage properties located in the United States and Puerto Rico. The properties are managed with a local operational focus by NSA and its participating regional operators (PROs). National Storage went public in 2015 and has increased its dividend every year since. The company was co-founded by CEO Arlen D. Nordhagen in 1998 as SecurCare Self Storage.