NSA National Storage Affiliates Trust

Self-storage rates rose 0.7% in June, but annual growth stayed negative. Public Storage-led REIT consolidation signals a shifting market.

Public Storage (NYSE:PSA) has completed a major senior notes offering with detailed covenant disclosures. The notes include special mandatory redemption provisions tied to the outcome of its planned acquisition of National Storage Affiliates Trust. These terms link the company’s new debt obligations directly to the completion or non completion of the pending transaction. Public Storage enters this financing step with its stock at $315.01 and a return of 21.9% year to date, alongside a 14.2%...

Public Storage finalized its $10.5B NSAT acquisition, expanding its self-storage portfolio to more than 4,500 US facilities.

PSA readies for Q2 earnings with revenue growth expected, as strong operations and acquisitions are likely to support results after its National Storage deal.

Public Storage (PSA) said Wednesday that it has completed its acquisition of National Storage Affili