Public Storage

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Public Storage
Type Public (NYSEPSA)
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 Increase$2 billion USD (2013)[1]
Operating income Increase$1.6 billion USD (2013)[1]
Net income Increase$1 billion USD (2013)[1]
Employees 5,000 (2013)[1]
Website http://www.publicstorage.com

Public Storage, a real estate investment trust (REIT) with headquarters in Glendale, CA.[2]

Public Storage was founded on August 14, 1972. It built its first self-storage facility in 1972. Today, it operates 2,200 company-owned locations in the United States.[3] It also operates locations in Europe (under the Shurgard brand), totaling more than 141 million net rentable square feet of real estate. Its PS Business Parks, Inc. interest adds another 28 million net rentable square feet of commercial and industrial space.[4]

According to an investigation by CBS TV Channel 5, Public Storage employees said they are trained to advise customers that insurance is required, when it isn't actually. Additionally, the station reported that many legitimate insurance claims were not paid.[5][6]

References[edit]

  1. ^ a b c d Public Storage Annual Report, Public Storage, retrieved July 22, 2014 
  2. ^ Armental, Maria (December 28, 2012). "Public Storage Profit Rises on Higher Rents and Occupancy". The Wall Street Journal. Retrieved September 25, 2014. 
  3. ^ The Oregonian, Storage unit auction bidders seek treasures in leftovers of others' lives, December 28, 2012
  4. ^ "Public Storage (PSA) Company Profile | Reuters.com". reuters.com. Retrieved 15 August 2012. "net rentable square feet of commercial space in eight states" 
  5. ^ Watts, Julie (18 November 2010). "ConsumerWatch: Insurance Issues At Public Storage". http://sanfrancisco.cbslocal.com. CBS Local Media. Retrieved 12 April 2014. 
  6. ^ Watts, Julie (9 December 2010). "ConsumerWatch: Ex-Public Storage Employee Talks About Insurance". http://sanfrancisco.cbslocal.com. CBS Local Media. Retrieved 12 April 2014. 

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