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No. of Recommendations: 18
If you want a REAL dividend increase, look at what Extra Space (EXR) did last week: They bumped the dividend by 25.5%. The stock has done really well, as this is a very well-managed REIT and owns properties in the rapidly-growing self-storage sector.{"comparisons":"VNQ","comparisonsColors":"#cc0000","comparisonsWidths":"1","comparisonsGhosting":"0","range":"2y","showPrePost":false}

The current yield is 3.37%. And the current payout ratio is still reasonable at 85% of AFFO - which has been growing at rates into the double-digits.

That said, EXR is hardly a cheap stock, trading at a substantial NAV premium that takes into account expected rapid future external growth as well as above-average internal growth. I own a ton of this one but am not buying more at the present time. Those who like this property type should consider CUBE, which is also very well-run and which is much cheaper on an NAV basis. The yield is smaller, at 2.7%, but its payout ratio is a lot lower than EXR's.

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