NATIONAL STORAGE AFFILIATES CUM

Energy Transition & Power Demand▲

Public Storage adds 60 rooftop solar projects and raises 2026 guidance

Public Storage is partnering with Commonwealth Edison and Solar Landscape to install 60 rooftop community solar projects across northern Illinois over two years, while reporting second-quarter 2026 revenue of US$1,232.88 million and net income of US$499.96 million. The company also completed a US$900.00 million senior notes offering to fund acquisitions including National Storage Affiliates and the expansion of solar across roughly five million square feet of rooftop space. Management raised its 2026 guidance, projecting US$5.3 billion in revenue and US$2.0 billion in earnings by 2029, requiring 3.0% yearly revenue growth and a roughly US$0.3 billion earnings increase from the current US$1.7 billion. The solar push and balance sheet moves are part of a strategy to convert underused real estate into additional income streams and cleaner energy infrastructure, though elevated marketing and discounting remain a near-term watchpoint.

PSA ▲

Energy Transition & Power Demand ▲

Simply Wall St·47dRead more →

NSA-PR-B

Public Storage raises 2026 core FFO guidance to $16.75-$17.05 after closing NSA deal

Public Storage raised its 2026 core FFO guidance to a range of $16.75 to $17.05 per share, with a midpoint of $16.90, following the close of the National Storage Affiliates transaction and improving operating trends. The company reported second-quarter core FFO of $4.17 per share, with same-store revenue down 0.6% and same-store net operating income down 2.2%, both ahead of internal expectations. Management highlighted the rapid integration of the 1,100-store NSA portfolio, the announced $1.2 billion acquisition of Public Storage Canada, and a turn in leading indicators, including positive average move-in rents for the first time since 2021. The updated guidance reflects a smaller headwind from Los Angeles pricing restrictions, now seen at minus 50 basis points versus the prior minus 80 basis points, and a modest financing benefit from recent acquisitions. The company expects same-store revenue growth to turn positive in the fourth quarter, though Sunbelt markets are still projected to remain in negative territory through year-end.

PSA ▲

Seeking Alpha·50dRead more →

NSA-PR-B▲2

Public Storage sets July 22 closing date for National Storage Affiliates acquisition after shareholder approval

Public Storage expects to close its acquisition of National Storage Affiliates on July 22, 2026, after NSA common shareholders voted to approve the deal at a special meeting on July 14. The parties had already secured approval from holders of a majority of NSA operating partnership units, satisfying the required equity-holder conditions. The transaction remains subject to customary closing conditions. Goldman Sachs, Wells Fargo, and Eastdil Secured are advising Public Storage, while Morgan Stanley is advising NSA.

PSA ▲

Business Wire·66dRead more →