Mizuho は National Storage (NSA) の目標株価を引き上げ; $10.5B の取引ニュースを受けて Evercore は格上げ

National Storage Affiliates Trust (NYSE:NSA) is included among the 14 Under-the-Radar High Dividend Stocks to Buy Now.
On March 17, Mizuho raised its price recommendation on National Storage Affiliates Trust (NYSE:NSA) to $41 from $32. It kept a Neutral rating on the shares.
That same day, Evercore ISI upgraded National Storage to In Line from Underperform and set a $41 price target. The move followed Public Storage’s announcement of an all-stock deal for its smaller rival. After updating its Public Storage model, the firm said its FY26 core FFO per share estimate now stands at $16.91, slightly up from $16.88. Its price target remains $311, and it kept an In Line rating. The firm noted that closing and integrating the deal will take time, and the benefits from scale will likely come later.
On March 16, Reuters reported that Public Storage agreed to acquire National Storage Affiliates in an all-stock deal valued at about $10.5 billion, including debt. The deal marks an expansion into high-growth regions across the U.S.Under the terms, National Storage shareholders will receive 0.14 shares of Public Storage common stock for each share they hold. This values the deal at about $41.68 per share.
Public Storage expects the transaction to strengthen its presence in Sun Belt markets and generate $110 million to $130 million in annual synergies. It also expects the deal to support FFO per share after closing. The deal has been approved by both boards and is expected to close in Q3 2026. Ahead of that, a $3.3 billion joint venture will be formed, with National Storage partners owning 80% and Public Storage managing the portfolio. Public Storage also plans to repay debt and fund the transaction with $4 billion in financing. National Storage owns more than 1,000 properties across 37 states and Puerto Rico.
National Storage Affiliates Trust (NYSE:NSA) is a self-administered and self-managed REIT focused on owning, operating, and acquiring self-storage properties across metropolitan areas in the United States.
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