National Storage Affiliates Trust said it expects its acquisition by Public Storage to close on or about July 22, 2026, following a special shareholder meeting set for July 14.
The company’s board declared a special prorated cash dividend of $0.0336 per common share for the period from July 1 through July 21, payable immediately before the deal closes. Based on the expected closing date, the dividend would be paid on July 22 to shareholders of record at the close of business on July 21.
If the transaction slips past July 22, the dividend will not be paid that day. In that case, NSA said it will issue another update. The New York Stock Exchange has advised that NSA shares will trade with due bills during the record-date period, meaning investors who sell during that window will give up the right to the dividend.
Under the merger terms, NSA common shareholders will receive 0.14 of a Public Storage common share for each NSA share owned immediately before the transaction closes. NSA OP unitholders will receive 0.14 of a Public Storage operating partnership unit for each NSA OP unit.
NSA also said holders of a majority of its outstanding OP units, excluding units held by NSA and its subsidiaries, have already consented to the deal. That leaves the July 14 common shareholder vote as the last remaining equity-holder approval needed for closing.
As of March 31, 2026, NSA owned or operated 1,061 self-storage properties across 37 states and Puerto Rico, with about 69.3 million rentable square feet, excluding three properties classified as held for sale and sold in April 2026. The market has reacted to these announcements by moving the company's shares 0.29% to a price of $44.76. For more information, read the company's full 8-K submission here.
