Public Storage Acquires National Storage Affiliates Trust, Expanding Facilities and Offering High-Yield Preferred Securities
Public Storage (PSA) has announced an all-stock acquisition of National Storage Affiliates Trust (NSA), adding over 1,000 properties and expanding its Sunbelt exposure. The deal, expected to close in Q3 2026, will create a $77 billion enterprise with 4,600 facilities. PSA's preferred securities, including Series F, offer attractive yields, with the common stock yielding close to 4%.
Topics: M&A National Storage Affiliates Trust Public Storage REIT Self-storage