Form 8-K · Current Report · Filed 2026-03-16
Public Storage Announces Merger with National Storage Affiliates
Public Storage, a leading self-storage REIT, has announced an agreement to acquire National Storage Affiliates in an all-stock transaction valued at approximately $10.5 billion.
- Filer
- PSA PSA
- Filed
- Accession
- 0001193125-26-107159
- CIK
- 0001393311
- Signal
- High impact
- Source
- Official filing on sec.gov ↗
Details
The merger is expected to close in the third quarter of 2026, subject to shareholder approval and other customary conditions. The combined company will have a pro forma equity market capitalization of approximately $57 billion and a total enterprise value of approximately $77 billion. The transaction is expected to be accretive to FFO per share within the first year of closing and approximately $0.35-$0.50 per share accretive upon the full realization of synergies in three to four years. The merger will also create a new joint venture consisting of 313 properties, providing an attractive yield alternative to existing NSA OP unitholders.
Items reported
Reported Item
Market reaction
Close before filing
$297.72
Next session
-3.9%
Since filing
+8.9%
Latest close
$324.17
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