Description

Public Storage is a prominent Real Estate Investment Trust (REIT), recognized as a member of both the S&P 500 and FT Global 500 indices. Its core business involves the acquisition, development, ownership, and operation of self-storage facilities. As of September 30, 2020, the company held interests in 2,504 self-storage sites across 38 U.S. states, encompassing approximately 171 million net rentable square feet. Furthermore, it possessed roughly a 35% common equity stake in Shurgard Self Storage SA (Euronext Brussels:SHUR), which operated 239 self-storage facilities under the "Shurgard" brand in seven Western European countries, totaling about 13 million net rentable square feet. Public Storage also maintained an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB), an entity that owned and managed around 28 million rentable square feet of commercial space by the same date. The corporate headquarters for Public Storage is located in Glendale, California.