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, 2026. The deal still needs approval from NSA’s common shareholders and other customary closing conditions.
Alongside the expected closing date, NSA’s board declared a special prorated cash dividend of $0.0336 per common share for the period from July 1 through July 21, 2026. The dividend is set to be paid immediately before the transaction closes, with holders of record as of the close of business on July 21, 2026. If the transaction slips past July 22, the dividend will not be paid that day.
NSA said holders of a majority of its outstanding operating partnership units, excluding units held by NSA and its subsidiaries, already consented to the transaction. That leaves the July 14 common shareholder vote as the final equity-holder approval still required.
Under the merger terms, NSA common shareholders will receive 0.14 of a Public Storage common share for each NSA 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 unit.
NSA 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. Three properties classified as held for sale were excluded from that figure and were sold in April 2026. Following these announcements, the company's shares moved 1.41%, and are now trading at a price of $45.39. For more information, read the company's full 8-K submission here.
