Public Storage
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| 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)[1] |
| Operating income | $1.02 billion USD (2010)[2] |
| Net income | $665.64 million USD (2010)[3] b |
| Employees | 4,900 (2010)[4] |
| Website | http://www.publicstorage.com |
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. Today it operates over 2,200 unique and diverse company-owned locations in the United States and Europe (under the Shurgard brand name), totaling more than 140 million net rentable square feet of real estate. Its PS Business Parks interest adds another 21 million rentable square feet of commercial and industrial space. Based on number of tenants, Public Storage is among the largest landlords in the world. The firm's self-storage properties, located in densely populated areas, generate some 94% of the company's sales. The company was founded in 1971 by B. Wayne Hughes.
Public Storage owns about 41% of publicly traded firm PS Business Parks, which rents commercial and industrial storage space. Public Storage locations also sell packing and related moving supplies and facilitates the purchase of insurance from Willis Insurance.
Shurgard Storage Centers, Inc. was publicly traded on the New York Stock Exchange from 1994 to August 2006, when it was bought by Public Storage for $5.5B.
