Public Storage (PSA-PQ) Research

Public Storage is a prominent real estate investment trust (REIT), recognized as a constituent of both the S&P 500 and FT Global 500. Its core business revolves around the acquisition, development, ownership, and management of self-storage properties. As of September 30, 2020, the company boasted a significant domestic presence, managing 2,504 self-storage facilities spread across 38 U.S. states, encompassing roughly 171 million net rentable square feet. Furthermore, Public Storage held an approximate 35% common equity stake in Shurgard Self Storage SA (Euronext Brussels:SHUR), which oversaw 239 self-storage locations operating under the 'Shurgard' brand throughout seven Western European countries, accounting for approximately 13 million net rentable square feet. It also maintained about a 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB), which, at the same date, owned and operated approximately 28 million rentable square feet of commercial real estate. The corporate headquarters for Public Storage are situated in Glendale, California.

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