MergerJul 29, 2026, 04:14 PM
Public Storage Completes NSA Merger; Acquires PS Canada for $1.2B
AI Summary
Public Storage completed its merger with National Storage Affiliates Trust (NSA) on July 22, 2026, involving the issuance of new shares and assumption of debt. Additionally, the company announced an agreement to acquire PS Canada for $1.2 billion, anticipated to close in Q3 2026. For the second quarter of 2026, net income allocable to common shareholders increased to $450.26 million, with diluted EPS rising to $2.55.
Key Highlights
- Completed merger with National Storage Affiliates Trust (NSA) on July 22, 2026.
- Issued 11.2M common shares and 9.57M Series T Preferred Shares for NSA merger.
- Agreed to acquire PS Canada for $1.2 billion, expected to close in Q3 2026.
- Q2 2026 net income allocable to common shareholders: $450.26 million.
- Q2 2026 diluted EPS: $2.55.
- Q2 2026 total revenues: $1.23 billion.
- H1 2026 net cash flows from operating activities: $1.56 billion.
- Secured new $3.0 billion unsecured revolving credit facility.
Price Impact
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