NSA: 15-12G · acquisition merger
National Storage Affiliates Trust has filed a Form 15 to terminate its registration under Section 12(g) and suspend its duty to file reports under the Securities Exchange Act of 1934. This administrative step follows the company's merger with and into Pelican Merger Sub I, LLC. The merger, which closed on July 22, 2026, resulted in the end of National Storage Affiliates Trust's separate corporate existence. Consequently, the company reports that there are currently no holders of record for its registered securities.
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NSA: 8-K · acquisition merger
National Storage Affiliates Trust announced the completion of its acquisition by Public Storage, effective July 22, 2026. Each outstanding NSA common share was converted into the right to receive 0.1400 shares of Public Storage common stock, and trading of NSA shares was suspended on the NYSE. In connection with the merger, NSA formed a joint venture holding 313 real estate assets valued at approximately $3.2 billion. This joint venture incurred roughly $2.2 billion in debt, consisting of $2.0 billion in secured mortgage financing from Goldman Sachs and Wells Fargo and $237 million in mezzanine financing. NSA has notified the NYSE of its intent to delist and will file a Form 15 to suspend its reporting obligations. All directors and officers have resigned, and the company is now an indirect subsidiary of Public Storage.
NSA: 25-NSE · delisting
The New York Stock Exchange filed a Form 25-NSE notifying the SEC of its intention to remove National Storage Affiliates Trust from listing and registration. The removal is effective at the opening of business on August 3, 2026, following the completion of the company's merger with Public Storage. The merger became effective on July 22, 2026, triggering the conversion of securities. Each common share of National Storage Affiliates Trust was converted into 0.14 of a share of Public Storage common stock. Additionally, the company's Series A and Series B preferred shares were converted into newly issued shares of Public Storage 6.000% Cumulative Preferred Shares Series T and Series U, respectively. Trading in the company's securities was suspended on July 22, 2026.
Molina Healthcare Set to Join S&P MidCap 400 and Construction Partners to Join S&P SmallCap 600
Molina Healthcare is set to join the S&P MidCap 400 effective prior to the open of trading on July 22, 2026. The company replaces National Storage Affiliates Trust, which is being acquired by Public Storage, marking Molina's graduation from the SmallCap 600. Construction Partners will replace Molina Healthcare in the S&P SmallCap 600.
Public Storage Announces Anticipated Closing Date of Pending Acquisition of National Storage Affiliates Following Approval by NSA Shareholders
National Storage Affiliates Trust Announces Common Shareholder Approval of Acquisition by Public Storage
National Storage Affiliates Trust shareholders approved the company's acquisition by Public Storage at a special meeting held on July 14, 2026. The transaction received overwhelming support, with approximately 99.9% of votes cast in favor, representing more than 84% of outstanding common shares. NSA expects the deal to close on or about July 22, 2026, subject to the satisfaction of remaining customary closing conditions.
National Storage Affiliates Trust Announces Anticipated Closing Date of Pending Transaction; Declares Dividend in Connection with Pending Transaction
National Storage Affiliates Trust declared a special prorated cash dividend of $0.0336 per share, payable immediately before the anticipated closing of its acquisition by Public Storage on or about July 22, 2026. The dividend is contingent on shareholder approval and the completion of the merger, and is tied to the period from July 1 through July 21, 2026. Holders of NSA common shares will receive 0.14 of a Public Storage common share for each NSA share owned immediately prior to the transaction's effective time.
National Storage Affiliates Trust filed a Form 8-K to supplement its proxy statement regarding its pending acquisition by Public Storage. The company is voluntarily adding disclosures to address three pending lawsuits and demand letters from shareholders alleging insufficient information and breaches of fiduciary duty. NSA denies the allegations but is providing the additional information to avoid litigation costs and potential delays to the merger scheduled for July 14, 2026. The supplemental filing includes detailed financial projections for the proposed Dropdown Joint Venture and a table of Wall Street analyst price targets for NSA, which range from $29.00 to $39.00 per share.
Are FSRL, KORE, FOX, NSA Obtaining Fair Deals for their Shareholders?
Halper Sadeh LLC is investigating Fox Corporation regarding its proposed merger with Roku Inc., focusing on potential breaches of fiduciary duties or violations of federal securities laws. Under the terms of the proposed transaction, Fox shareholders are expected to own approximately 73% of the combined company upon closing. The law firm is soliciting Fox shareholders to contact them to discuss rights and options regarding the deal on a contingent fee basis.
Are KORE, DAN, NSA, RMAX Obtaining Fair Deals for their Shareholders?
Halper Sadeh LLC is investigating the proposed sale of Dana Incorporated to Eaton Corporation plc for potential breaches of fiduciary duties or federal securities law violations. The law firm encourages Dana shareholders to contact them to discuss their rights and options on a contingent fee basis. This is a standard solicitation from a plaintiff firm and does not represent new disclosure or action from the company itself.
NSA: DEFM14A · acquisition merger
National Storage Affiliates Trust (NSA) has filed a definitive proxy statement/prospectus for its acquisition by Public Storage (PSA). NSA shareholders will receive 0.1400 shares of PSA common stock for each NSA share, implying a value of approximately $45.34 per share based on PSA’s June 10 closing price of $323.87. The NSA board unanimously recommends the merger, citing significant benefits for shareholders. The transaction includes a fixed exchange ratio, meaning the final value will fluctuate with PSA’s stock price until closing. NSA common shareholders will own approximately 5.8% of the combined company, while existing PSA shareholders will retain 94.2%. A special meeting for NSA shareholders is scheduled for July 14, 2026, to vote on the merger proposal. The merger is subject to customary closing conditions, including shareholder approval and regulatory clearances, with closing expected in the third quarter of 2026. NSA officers holding 7.4% of shares have agreed to vote in favor.
Are AFBI, BLD, NSA Obtaining Fair Deals for their Shareholders?
Halper Sadeh LLC issued a shareholder-solicitation notice naming AFBI, BLD, and NSA; no new disclosure from the companies themselves. The release is a routine lead-plaintiff-deadline reminder soliciting investors with losses to contact the firm on a contingency basis. This is law-firm marketing, not an issuer disclosure or a court action; treat as low-signal noise.
NSA: 425 · acquisition merger
Public Storage (PSA) has filed a Rule 425 communication supporting its proposed $10.5 billion acquisition of National Storage Affiliates Trust (NSA), combining the #1 and #5 self-storage operators in the U.S. The deal is structured as a mix of wholly-owned and joint venture assets to benefit all stakeholders, with an expected close in the third quarter of 2026. The transaction is projected to generate $110-130 million in annual synergies through brand unification, margin expansion, and operational efficiencies on PSA’s PS Next platform. PSA expects the deal to be breakeven for FFO per share in 2026, with accretion of $0.10-$0.20 in 2027 and $0.35-$0.50 in 2028-2029. Public Storage highlighted its strong operational performance, citing a 92.2% average occupancy and industry-leading NOI margins. The company maintains a robust balance sheet with an A2/A credit rating and 2.9x net debt to EBITDA, positioning it to fund the acquisition through debt capacity and retained cash flow.
National Storage Affiliates Trust Announces Quarterly Dividends
National Storage Affiliates Trust declared a quarterly common dividend of $0.57 per share for Q2 2026, payable June 30 to shareholders of record on June 15. The annualized common dividend rate remains at $2.28 per share. The company also declared $0.375 per share dividends on its Series A and Series B 6.000% Cumulative Redeemable Preferred Shares. As of March 31, 2026, NSA operated 1,061 self-storage properties across 37 states and Puerto Rico, totaling approximately 69.3 million rentable square feet.
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National Storage Affiliates Trust Reports First Quarter 2026 Results
National Storage Affiliates Trust reported Q1 2026 net income of $27.7 million, up 41.8% year-over-year, with Core FFO increasing 5.6% to $0.57 per share driven by NOI growth and expense control. The company reiterated its definitive merger agreement with Public Storage, an all-stock transaction valued at approximately $10.5 billion that is expected to close in the third quarter of 2026. Due to the pending merger, NSA suspended its full-year 2026 guidance; the quarter also saw $10.4 million in acquisitions and $20.6 million in dispositions.
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National Storage Affiliates Trust (NSA) Q4 2025 Earnings Call Transcript
National Storage (NSA) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
