Dividend Challengers 2025: Top 25

4. National Storage Affiliates Trust (NYSE:NSA)

Dividend Yield as of April 29: 6.29%

National Storage Affiliates Trust (NYSE:NSA) is a Colorado-based integrated and self-managed real estate investment trust company. As of 2025, the company operates over 1,070 self-storage facilities in 40 states and Puerto Rico, covering approximately 70 million rentable square feet. The company targets ownership in the top 100 metropolitan areas across the US. What sets National Storage Affiliates apart is its strategy of not consolidating its properties under a single national brand. Instead, it owns, operates, and manages well-established regional brands.

National Storage Affiliates Trust (NYSE:NSA) was implementing a consolidation strategy aimed at reducing its portfolio from a dozen brands to seven market-specific ones. This approach is designed to reinforce its core brands, lower costs, and improve returns. By strengthening these brands, the company plans to expand within their markets through acquisitions of smaller competitors, which would then be integrated into the more focused regional brands.

National Storage Affiliates Trust (NYSE:NSA) is a strong dividend payer, having raised its payouts for seven consecutive years. The company currently offers a quarterly dividend of $0.57 per share and has a dividend yield of 6.29%, as of April 29.