National Storage Affiliates Trust said it expects its pending 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 also 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 transaction closes. The dividend is contingent on shareholder approval and the other closing conditions being met.
If the deal closes on July 22 as expected, the dividend will be paid just before completion to holders of record at the close of business on July 21. If closing slips past July 22, shareholders will not receive the dividend on that date.
National Storage also said the New York Stock Exchange will have the shares trade with due bills during the record-date period, meaning sellers in that window will pass along the right to the dividend to buyers.
Under the merger agreement, each National Storage common share will be exchanged for 0.14 of a Public Storage common share, and each National Storage operating partnership unit will be exchanged for 0.14 of a Public Storage operating partnership unit.
The company said holders of a majority of outstanding operating partnership units, excluding units held by the company or its subsidiaries, have already consented to the transaction. That leaves the July 14 common shareholder vote as the only remaining equity-holder approval needed for closing.
National Storage said that as of March 31, 2026, it 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 the full picture, make sure to review National Storage Affiliates Trust's 8-K report.
