Investigation into National Storage Affiliates' Transaction
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 16 2026
0mins
Should l Buy NSA?
Source: PRnewswire
- Investigation Launched: Ademi LLP is investigating National Storage Affiliates (NSA) for potential breaches of fiduciary duty and other legal violations in its transaction with Public Storage (PSA), highlighting concerns over corporate governance.
- Transaction Details: In this deal, NSA shareholders will receive 0.14 shares of PSA common stock or partnership units for each NSA share they own, representing a total consideration of $41.68 per share based on PSA's closing price on March 13, 2026, reflecting the market value of the transaction.
- Insider Benefits: Insiders at National Storage Affiliates will receive substantial benefits as part of change of control arrangements, raising questions about whether the board is fulfilling its fiduciary duties to all shareholders, which could impact governance transparency.
- Competition Restrictions: The transaction agreement imposes significant penalties on NSA for accepting competing bids, potentially harming shareholder interests and limiting market competition, thereby necessitating further legal scrutiny.
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Analyst Views on NSA
Wall Street analysts forecast NSA stock price to fall
10 Analyst Rating
0 Buy
6 Hold
4 Sell
Moderate Sell
Current: 37.070
Low
30.00
Averages
37.00
High
41.00
Current: 37.070
Low
30.00
Averages
37.00
High
41.00
About NSA
National Storage Affiliates Trust is an integrated, self-administered, and self-managed real estate investment trust. The Company is focused on the ownership, operation and acquisition of self-storage properties located within various metropolitan statistical areas across the United States. The Company owns approximately 1,074 self-storage properties, located in 42 states and Puerto Rico, comprising approximately 70.2 million rentable square feet in approximately 5,52,000 storage units. The properties are managed with a local operational focus of the Company and its participating regional operators (PROs). The Company also managed through its property management platform an additional portfolio of approximately 259 properties owned by the Company's unconsolidated real estate ventures. These properties contain approximately 18.0 million rentable square feet, in approximately 143,000 storage units and located across 24 states. The Company’s operating partnership subsidiary is NSA OP, LP.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
BMO Increases Target Price for National Storage Affiliates Trust to $41, Up from $35
- Price Increase Announcement: BMO raised its target price for National Storage Affiliates from $35 to $41.
- Market Implications: This adjustment reflects a positive outlook on the company's performance and potential growth in the storage sector.
See More
Investor Rights Law Firm Investigates Multiple Companies
- Investigation Background: Halper Sadeh LLC is investigating companies like National Storage Affiliates Trust, Clear Channel Outdoor Holdings, and Enviri Corporation for potential violations of federal securities laws and breaches of fiduciary duties, which may impact shareholder rights.
- Transaction Details: National Storage Affiliates Trust is selling for 0.14 shares of Public Storage stock per share, Clear Channel Outdoor Holdings is being sold for $2.43 per share in cash to Mubadala Capital, and Enviri Corporation's Clean Earth is expected to sell for $14.50 to $16.50 per share in cash to Veolia Environnement SA.
- Shareholder Rights Protection: Halper Sadeh LLC encourages shareholders to contact them to discuss their rights and options, promising to handle matters on a contingent fee basis, aiming to secure increased consideration and additional disclosures for shareholders.
- Legal Service Commitment: The firm represents investors globally, focusing on combating securities fraud and corporate misconduct, having successfully recovered millions for defrauded investors in the past, highlighting their expertise in protecting shareholder interests.
See More
Monteverde Law Firm Investigates Multiple Company Transactions
- Veris Residential Investigation: Monteverde & Associates is investigating Veris Residential, Inc. (NYSE:VRE) regarding its sale to an investor consortium led by Affinius Capital, with shareholders expected to receive $19.00 per share in cash, providing a stable return for investors.
- Warner Bros. Discovery Transaction: The firm is also focusing on Warner Bros. Discovery, Inc. (NASDAQ:WBD) and its sale to Paramount Skydance Corporation, where shareholders are anticipated to receive $31.00 per share in cash plus additional ticking consideration, enhancing potential returns for shareholders.
- National Storage Affiliates Trust Sale: Monteverde is investigating National Storage Affiliates Trust (NYSE:NSA) related to its sale to Public Storage, where shareholders will receive 0.14 shares of Public Storage common stock or partnership units for each share, offering an equity conversion opportunity for investors.
- FONAR Corporation Sale: The firm is also looking into FONAR Corporation (NASDAQ:FONR) and its sale to affiliates of CEO Timothy Damadian, with Class B shareholders receiving $19.00 per share and Class C shareholders receiving $6.34 per share, ensuring clear cash returns for shareholders.
See More
NATIONAL STORAGE AFFILIATES TRUST: TRUIST SECURITIES INCREASES TARGET PRICE FROM $33 TO $38
- Price Increase Announcement: Trust Securities has raised the target price for National Storage Affiliates from $33 to $38.
- Market Implications: This adjustment reflects a positive outlook on the company's performance and potential growth in the storage sector.
See More
Investor Rights Law Firm Investigates Multiple Companies for Potential Violations
- Insider Trading Investigation: Halper Sadeh LLC is investigating Tri Pointe Homes, Inc. (NYSE:TPH) for its sale to Sumitomo Forestry at $47.00 per share, potentially infringing on shareholder rights, aiming to ensure fair transaction conditions for investors.
- Shareholder Rights Protection: The firm is also scrutinizing KORE Group Holdings, Inc. (NYSE:KORE) for its sale to Searchlight Capital Partners and Abry Partners at $9.25 per share, which may limit superior competing offers and impact potential shareholder returns.
- Transparency Demands: Halper Sadeh LLC represents shareholders of National Storage Affiliates Trust (NYSE:NSA), investigating its sale for 0.14 shares of Public Storage common stock or partnership units, seeking increased transparency and disclosures regarding transaction terms to protect investor interests.
- Legal Fee Arrangement: The firm commits to handling cases on a contingent fee basis, ensuring that affected investors can seek legal remedies without upfront legal costs, thereby enhancing shareholder confidence in the legal process.
See More
Land & Buildings Increases Stake in Centerspace to 9.19%
- Increased Holdings: Land & Buildings Investment Management, LLC disclosed in a February 17, 2026 SEC filing that it acquired an additional 229,146 shares of Centerspace, raising its stake to 9.19%, reflecting confidence in the company and optimism about the real estate market.
- Value Appreciation: As of December 31, 2025, the fund's quarter-end position in Centerspace increased by $19.97 million, indicating a dual impact from increased holdings and stock price changes, further solidifying its position in the multifamily housing sector.
- Market Performance: As of February 17, 2026, Centerspace shares were priced at $62.87, up 6.1% over the past year, although underperforming the S&P 500 by 6 percentage points, highlighting a balance between stability and growth potential.
- Strategic Regional Focus: Centerspace specializes in the apartment market in the Midwest and Mountain West, leveraging the region's stability and moderate development activity to ensure high occupancy rates and stable rental income, although this may limit upside potential in faster-growing markets.
See More
BMO Increases Target Price for National Storage Affiliates Trust to $41, Up from $35
- Price Increase Announcement: BMO raised its target price for National Storage Affiliates from $35 to $41.
- Market Implications: This adjustment reflects a positive outlook on the company's performance and potential growth in the storage sector.
See More
Investor Rights Law Firm Investigates Multiple Companies
- Investigation Background: Halper Sadeh LLC is investigating companies like National Storage Affiliates Trust, Clear Channel Outdoor Holdings, and Enviri Corporation for potential violations of federal securities laws and breaches of fiduciary duties, which may impact shareholder rights.
- Transaction Details: National Storage Affiliates Trust is selling for 0.14 shares of Public Storage stock per share, Clear Channel Outdoor Holdings is being sold for $2.43 per share in cash to Mubadala Capital, and Enviri Corporation's Clean Earth is expected to sell for $14.50 to $16.50 per share in cash to Veolia Environnement SA.
- Shareholder Rights Protection: Halper Sadeh LLC encourages shareholders to contact them to discuss their rights and options, promising to handle matters on a contingent fee basis, aiming to secure increased consideration and additional disclosures for shareholders.
- Legal Service Commitment: The firm represents investors globally, focusing on combating securities fraud and corporate misconduct, having successfully recovered millions for defrauded investors in the past, highlighting their expertise in protecting shareholder interests.
See More
Monteverde Law Firm Investigates Multiple Company Transactions
- Veris Residential Investigation: Monteverde & Associates is investigating Veris Residential, Inc. (NYSE:VRE) regarding its sale to an investor consortium led by Affinius Capital, with shareholders expected to receive $19.00 per share in cash, providing a stable return for investors.
- Warner Bros. Discovery Transaction: The firm is also focusing on Warner Bros. Discovery, Inc. (NASDAQ:WBD) and its sale to Paramount Skydance Corporation, where shareholders are anticipated to receive $31.00 per share in cash plus additional ticking consideration, enhancing potential returns for shareholders.
- National Storage Affiliates Trust Sale: Monteverde is investigating National Storage Affiliates Trust (NYSE:NSA) related to its sale to Public Storage, where shareholders will receive 0.14 shares of Public Storage common stock or partnership units for each share, offering an equity conversion opportunity for investors.
- FONAR Corporation Sale: The firm is also looking into FONAR Corporation (NASDAQ:FONR) and its sale to affiliates of CEO Timothy Damadian, with Class B shareholders receiving $19.00 per share and Class C shareholders receiving $6.34 per share, ensuring clear cash returns for shareholders.
See More
NATIONAL STORAGE AFFILIATES TRUST: TRUIST SECURITIES INCREASES TARGET PRICE FROM $33 TO $38
- Price Increase Announcement: Trust Securities has raised the target price for National Storage Affiliates from $33 to $38.
- Market Implications: This adjustment reflects a positive outlook on the company's performance and potential growth in the storage sector.
See More
Investor Rights Law Firm Investigates Multiple Companies for Potential Violations
- Insider Trading Investigation: Halper Sadeh LLC is investigating Tri Pointe Homes, Inc. (NYSE:TPH) for its sale to Sumitomo Forestry at $47.00 per share, potentially infringing on shareholder rights, aiming to ensure fair transaction conditions for investors.
- Shareholder Rights Protection: The firm is also scrutinizing KORE Group Holdings, Inc. (NYSE:KORE) for its sale to Searchlight Capital Partners and Abry Partners at $9.25 per share, which may limit superior competing offers and impact potential shareholder returns.
- Transparency Demands: Halper Sadeh LLC represents shareholders of National Storage Affiliates Trust (NYSE:NSA), investigating its sale for 0.14 shares of Public Storage common stock or partnership units, seeking increased transparency and disclosures regarding transaction terms to protect investor interests.
- Legal Fee Arrangement: The firm commits to handling cases on a contingent fee basis, ensuring that affected investors can seek legal remedies without upfront legal costs, thereby enhancing shareholder confidence in the legal process.
See More
Land & Buildings Increases Stake in Centerspace to 9.19%
- Increased Holdings: Land & Buildings Investment Management, LLC disclosed in a February 17, 2026 SEC filing that it acquired an additional 229,146 shares of Centerspace, raising its stake to 9.19%, reflecting confidence in the company and optimism about the real estate market.
- Value Appreciation: As of December 31, 2025, the fund's quarter-end position in Centerspace increased by $19.97 million, indicating a dual impact from increased holdings and stock price changes, further solidifying its position in the multifamily housing sector.
- Market Performance: As of February 17, 2026, Centerspace shares were priced at $62.87, up 6.1% over the past year, although underperforming the S&P 500 by 6 percentage points, highlighting a balance between stability and growth potential.
- Strategic Regional Focus: Centerspace specializes in the apartment market in the Midwest and Mountain West, leveraging the region's stability and moderate development activity to ensure high occupancy rates and stable rental income, although this may limit upside potential in faster-growing markets.
See More
