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 also declared a special prorated cash dividend of $0.0336 per common share, covering the period from July 1 through July 21. The dividend is scheduled to be paid immediately before the transaction closes, to holders of record at the close of business on July 21.
If the deal closes on July 22 as expected, the dividend will be paid that day. If closing slips past July 22, shareholders will not receive the dividend on that date.
Under the merger agreement, NSA common shareholders will receive 0.14 of a Public Storage common share for each NSA common share they own immediately before the deal closes. NSA operating partnership unitholders will receive 0.14 of a Public Storage operating partnership unit for each NSA OP unit they own.
NSA said holders of a majority of outstanding OP units, excluding units held by NSA or its subsidiaries, have already consented to the transaction. That leaves shareholder approval at the July 14 special meeting as the only remaining equity-holder approval needed.
As of March 31, 2026, NSA owned interests in and operated 1,061 self storage properties across 37 states and Puerto Rico, with about 69.3 million rentable square feet. Three properties classified as held for sale were excluded from that total and were 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.
