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Public Storage, a prominent member of the S&P 500 and FT Global 500, operates as a real estate investment trust (REIT) specializing in the acquisition, development, ownership, and operation of self-storage facilities. Headquartered in Glendale, California, the company boasts a substantial portfolio as of September 30, 2020: it holds interests in 2,504 self-storage facilities across 38 states in the United States, totaling approximately 171 million net rentable square feet. Additionally, Public Storage holds a 35% common equity interest in Shurgard Self Storage SA, which owns and operates 239 self-storage facilities in seven Western European countries under the "Shurgard" brand, comprising approximately 13 million net rentable square feet.
Furthermore, Public Storage maintains an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE: PSB), a company specializing in commercial real estate. PS Business Parks owns and operates about 28 million rentable square feet of commercial space, complementing Public Storage's diversified real estate holdings. Public Storage's strategic focus on self-storage facilities underscores its commitment to providing secure and accessible storage solutions across a broad geographic footprint, catering to both residential and commercial customers.
With a robust presence in key markets in North America and Western Europe, Public Storage continues to expand its portfolio and enhance operational efficiency. The company's enduring success is rooted in its proactive approach to real estate management, disciplined investment strategies, and dedication to delivering superior value to shareholders and customers alike.
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