Why National Storage Affiliates Stock Soared Today

By Joe Tenebruso – Mar 16, 2026 at 4:05PM ESTKey PointsAn industry giant wants to buy National Storage Affiliates.The deal would create a $57 billion behemoth.Shares of National Storage Affiliates (NSA +30.06%) surged on Monday after the real estate investment trust (REIT) struck a deal to be acquired by Public Storage (PSA 1.67%). Image source: Getty Images. An enticing offer for National Storage Affiliates' shareholders Under the terms of the deal, Public Storage would purchase National Storage Affiliates for $10.5 billion, including debt. Investors would receive 0.14 of a share of Public Storage stock for every share of National Storage Affiliates they own. That equates to $41.68 per share, a premium of roughly 35%, based on the companies' closing prices on Friday. The deal is projected to close in the third quarter, subject to shareholder and regulatory approval. ExpandNYSE: NSANational Storage Affiliates TrustToday's Change(30.06%) $9.30Current Price$40.24Key Data PointsMarket Cap$2.4BDay's Range$39.09 - $40.9552wk Range$27.43 - $40.95Volume764KAvg Vol1.5MGross Margin45.46%Dividend Yield9.21% National Storage Affiliates brings over 1,000 properties with 550,000 storage units spanning 69 million rentable square feet in 37 states and Puerto Rico. Public Storage already possesses more than 3,500 self-storage sites with over 250 million rentable square feet in 40 states. The combined company's pro forma market value is estimated at $57 billion. Stronger together Operating under the well-known Public Storage brand should provide a marketing boost to National Storage Affiliates' facilities. The merged company should also benefit from cost efficiencies, attractive financing terms, and robust free cash flow. "Public Storage is the ideal strategic fit for our company given their best-in-class brand, operating platform, and future growth profile," National Storage Affiliates CEO David Cramer said.Read NextSep 13, 2024 •By Keith SpeightsWhy I Just Bought These 2 High-Yield REIT StocksSep 5, 2024 •By Keith Speights3 High-Yield Dividend Stocks to Buy Sooner Rather Than LaterJun 28, 2022 •By Liz BrumerDon't Sleep on This Money-Making Real Estate StockAbout the AuthorJoe Tenebruso is a contributing Motley Fool stock market analyst with more than 3,000 financial bylines to his name. Joe was an investment analyst for Stock Advisor, Income Investor, Crypto Society, and other top-rated investing services. He also managed Tier 1 Investments, a market-crushing real-money portfolio with 24.58% annualized returns. Joe graduated summa cum laude from Rutgers University with a Bachelor of Science in Finance.tmfguardianX@Tier1InvestorStocks MentionedNational Storage Affiliates TrustNYSE: NSA$40.24(+30.06%)+$9.30Public StorageNYSE: PSA$289.84(-1.66%)-$4.88*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.