Description

Public Storage, a distinguished member of both the S&P 500 and FT Global 500 indices, operates as a Real Estate Investment Trust (REIT) primarily engaged in the acquisition, development, ownership, and management of self-storage facilities. As of September 30, 2020, its extensive portfolio encompassed direct interests in 2,504 self-storage properties situated across 38 U.S. states, collectively offering roughly 171 million net rentable square feet. Beyond its core U.S. operations, the company also held an approximate 35% common equity stake in Shurgard Self Storage SA (Euronext Brussels:SHUR). This European entity maintained 239 self-storage locations throughout seven Western European nations, providing about 13 million net rentable square feet under the distinct 'Shurgard' brand. Furthermore, Public Storage possessed a roughly 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB), which, as of the same September 30, 2020, date, managed and owned around 28 million rentable square feet of commercial real estate. The corporate headquarters for Public Storage are located in Glendale, California.