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National Storage Affiliates Trust (NYSE:NSA) is included among the 13 Best Dividend Stocks Paying Over 6%.

On January 8, UBS lowered its price target on National Storage Affiliates Trust (NYSE:NSA) to $29 from $30 and kept a Neutral rating on the stock. UBS said the adjustment was not really about one company-specific issue. It came as part of the firm’s broader view on REITs heading into 2026.UBS expects 2026 to be an important year for the REIT space. The firm forecasts total returns of 9%–11%, supported by improving macro conditions, more attractive valuations, easing supply pressures, and a steadier political backdrop. It also expects the year to unfold in two different phases, with investors leaning more defensive in the first half of 2026 and stronger catalysts showing up in the second half. In that environment, UBS said it prefers Healthcare REITs, Shopping Centers, and Coastal Apartments.

National Storage Affiliates Trust (NYSE:NSA) has also been active on the growth front. Earlier in November, the company announced a new joint venture with an affiliate of Investment Real Estate Management (IRE). IRE is one of NSA’s former participating regional operators and manages self-storage properties under the “Moove In” brand.

The joint venture is expected to have around $350 million in buying power, funded through partner equity contributions and debt raised at the joint venture level. NSA plans to provide 75% of the equity capital, up to $105 million, in exchange for preferred equity. That investment comes with a 10% preferred return per year, plus the potential for additional upside, which NSA expects to earn when the joint venture exits its investments in future years.

The company expects the joint venture to put the capital to work over the next 24 months. The focus will be on value-add self-storage opportunities in markets where population and demand trends look favorable. Any properties acquired through the venture will be managed by IRE under the Moove In brand, which gives the partnership an operating platform that is already in place.

National Storage Affiliates Trust (NYSE:NSA) is a self-storage REIT based in Greenwood Village, Colorado. The company focuses on owning, operating, and acquiring storage properties, mostly located in large US metro areas within the top 100 metropolitan statistical areas.

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Disclosure: None.