Description

Public Storage operates as a prominent real estate investment trust (REIT), recognized as a member of both the S&P 500 and FT Global 500, with its main focus being the acquisition, development, ownership, and management of self-storage properties. As of September 30, 2020, its portfolio encompassed 2,504 self-storage locations situated across 38 U.S. states, collectively providing around 171 million net rentable square feet. The company also held an approximately 35% common equity share in Shurgard Self Storage SA (Euronext Brussels:SHUR), which managed 239 "Shurgard"-branded self-storage facilities totaling about 13 million net rentable square feet across seven Western European countries. Furthermore, Public Storage maintained an approximate 42% common equity stake in PS Business Parks, Inc. (NYSE:PSB), responsible for owning and operating roughly 28 million rentable square feet of commercial space by the same date. The corporate base for Public Storage is located in Glendale, California.