Public Storage Announces Acquisition of National Storage Affiliates Trust

Summary

Public Storage reported its first quarter 2026 financial results, showing a 32.8% increase in net income per share and a 2.4% increase in core FFO per share. The company also announced the pending acquisition of National Storage Affiliates Trust (NSA) in an all-stock transaction valued at approximately $10.5 billion. Other highlights include the appointment of Tom Boyle as CEO and Shank Mitra as Chairman, development and expansion plans, a strategic data science partnership with Welltower, and a public offering of $500 million in senior notes.