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. Its primary operations encompass the acquisition, development, ownership, and management of self-storage properties. As of September 30, 2020, the company held a substantial portfolio: this included direct interests in 2,504 self-storage facilities spanning 38 U.S. states, providing approximately 171 million net rentable square feet. Furthermore, Public Storage maintained an approximate 35% common equity stake in Shurgard Self Storage SA (Euronext Brussels:SHUR), which operated 239 self-storage sites under the "Shurgard" brand, totaling about 13 million net rentable square feet across seven Western European nations. The company also possessed roughly a 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB), a firm that owned and managed approximately 28 million rentable square feet of commercial space as of the same reporting date. Public Storage's corporate headquarters are located in Glendale, California.