Public Storage

Company Description

Public Storage is a self-storage company operating as a real estate investment trust. Public Storage is the largest self-storage company in the United States and the world, managing more than 2,200 self-storage facilities in the United States, and seven European countries, where it operates under the Shurgard brand.

Detailed Description

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020. Our headquarters are located in Glendale, California.

Key People

Founder(s): B. Wayne Hughes Kenneth Volk Jr.

B. Wayne Hughes, founder Ronald L. Havner, Jr., Chairman of the Board Joseph D. Russell, Jr., President and CEO

Financials

Revenue: US$2.56 billion (2016)

Operating income: US$1.37 billion (2016)

Net income: US$1.46 billion (2016)

Total assets: US$10.13 billion (2016)

Total equity: US$4.37 billion (2016)