There are many options for US investors when it comes to equity REITs. Such REITs invest in real estate that generates stable income. Examples of such real estate include office space, rental housing projects, self-storage complexes, healthcare facilities, warehouses, and other assets. Self-storage has gone through an uptrend off-late. There are a few options when it comes to storage REITs. One of the leading names in the sub-sector is Extra Space Storage. There are more than 200 REITs listed in the US and choosing the right name is important to earn a reasonable return. Extra Space Storage is among the top REIT industrial stocks based on recent performances. Its stock is up 77% over the past 12 months and the company has a strong presence across multiple US states.
Financials And Past Growth Numbers
Extra Space Storage has had an impressive decade of growth from 2011 to 2020. Its revenue was around $330 million at the beginning of the decade. That number had risen to $1.35 billion by 2020 representing a rise of more than 4X. Dividend payouts are a very important metric when investors compare different REITs. In the case of Extra Space Storage, dividends were $0.56 per share in 2011. They have grown every single year since then and hit a high of $3.6 per share in 2020. The dividend payouts have increased every single year throughout the past decade. The increase was marginal in 2020 but it still occurred even during the pandemic. Such a strong track record and impressive growth sets Extra Space Storage apart as one of the top industrial REIT stocks 2021.
Top Reit Industrial Stocks
The price action for Extra Space Storage looks interesting. The price is in what the Dow Theory would consider an uptrend making higher highs and higher lows. It has been doing this since May 2020. The price has respected the 50MA for the most part except in December 2020 and some part of January 2021 when prices were moving sideways.