Self-storage REITs just produced the sector news of the year: Public Storage’s $10.5 billion acquisition of National Storage Affiliates, announced as new supply hit an 11-year low and occupancy gaps closed. The category is consolidating at the bottom of its cycle, which is historically when the strong get stronger. Rankings below, live data included.
For income investors: REIT dividend safety 2026 tracks every dividend cut this year, ranks the monthly payers by grade and lists the highest yields that still grade B or better.
Rates: the median self-storage REIT fell 9.5 percent between August 14 and October 2, 2026, as the 10-year Treasury yield climbed from 4.68 to 5.28 percent. REITs and interest rates ranks all 15 sectors by rate sensitivity.
| # | REIT | Grade | Yield | Market Cap | Occupancy | Credit |
|---|---|---|---|---|---|---|
| 1 | Public Storage (PSA) | A 85 | 4.20% | $50.2B | — | A |
| 2 | Extra Space Storage (EXR) | B 78 | 4.84% | $28.3B | 93.0% | BBB+ |
| 3 | CubeSmart (CUBE) | B 73 | 5.61% | $8.5B | — | — |
| 4 | SmartStop Self Storage REIT (SMA) | C 60 | 4.78% | $1.8B | — | — |
| 5 | Global Self Storage (SELF) | D 52 | 5.96% | $56M | — | — |
Grades follow the published REIT Rankings methodology. Yields and market caps update automatically with market data.
How to Read This Ranking
Public Storage is the quality anchor: A-rated credit, 77% NOI margins, sector-leading rents, and now the consolidator premium. Extra Space is the platform: the largest portfolio, best occupancy (93%), and the fastest same-store recovery, at the richest multiple. CubeSmart is the value option with coastal-barrier markets and a discount price. NSA is graded on frozen standalone fundamentals while its acquisition pends.