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Public Storage (NYSE: PSA), a real estate investment
trust (REIT), is one of the largest self-storage companies in the United States
with headquarters in Glendale, CA.
Public Storage built its first self-storage facility
in 1972. It operates more than 2000 company-owned locations in the United
States and Europe. In Europe, PS operates under Shugard; it bought Shurgard
Storage Centers, Inc. in August 2006 for $5.5 billion. It estimates that its
facilities hold a 140 million net rentable square feet of real estate.
PS also owns 41% of PS Business Parks, a place for
commercial and industrial storage purposes, of which there is currently 21
million square feet. The company was founded in 1971 by B. Wayne Hughes. Public
Storage locations also sell packing and related moving supplies and facilitates
the purchase of insurance from Willis Insurance.
Type Public (NYSE: PSA)
S&P 500 Component
Industry Real estate investment trust
Founded
1972
Headquarters
Glendale, California, USA
Key people
B. Wayne Hughes, founder; Ronald L. Havner Jr., Chairman of the Board,
CEO and President
Revenue
$1.43 billion USD (2010)
Operating income
$1.02 billion
USD (2010)
Net income
$665.64
million USD (2010)
Employees
4,900 (2010)
Website
http://www.publicstorage.com
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