National Storage Affiliates Trust

National Storage Affiliates Trust 6.000% Series B Cumulative Redeemable Preferred Shares is a series of preferred equity securities issued by National Storage Affiliates Trust, a real estate investment trust. These shares provide holders with a fixed 6.000% annual dividend rate on the $25.00 liquidation preference per share, paid quarterly in cash when declared by the board. Dividends are cumulative, meaning any unpaid amounts accrue and must be paid before common shareholders receive distributions. The shares are redeemable at the issuer's option under specified conditions, offering flexibility in capital management. They rank senior to common shares in dividend payments and liquidation proceeds but junior to debt obligations. National Storage Affiliates Trust, headquartered in Greenwood Village, Colorado, owns, operates, and acquires self storage properties across top metropolitan areas in the United States. This preferred series supports the trust's capital structure by attracting income-focused investors seeking stable returns from the self storage real estate sector, complementing its common equity and other preferred offerings.