- Business
- Public Storage (NYSE: PSA, PSA-PI), a member of the S&P 500, operates as the world's largest owner, operator, and developer of self-storage facilities, providing secure storage solutions to approximately two million individual and business customers through more than 3,300 facilities across 38 states in the United States and interests in Europe via Shurgard Self Storage. The company offers a comprehensive range of self-storage units in various sizes, including climate-controlled options, drive-up access, and vehicle storage; month-to-month rentals with online reservations and payments; moving and packing supplies such as boxes, tape, locks, and bubble wrap; and tenant reinsurance plans protecting stored goods against damage or loss from specific events. Founded in 1972 and headquartered in Glendale, California, Public Storage generates revenue primarily from rental income, ancillary sales, and operational efficiencies driven by digital tools and AI-optimized staffing.
In recent developments, Public Storage has aggressively expanded its portfolio through acquisitions, completing the purchase of 74 self-storage facilities totaling 5.2 million net rentable square feet for approximately $810 million as of September 30, 2025, alongside 49 additional facilities encompassing 3.4 million net rentable square feet for $511.4 million in the third quarter. Year-to-date through 2025, the company has finalized or placed under contract acquisitions of 6.1 million net rentable square feet for an aggregate investment of about $934.5 million, with further pipeline activity exceeding $1.1 billion in announced deals and developments. These moves, coupled with completed expansion projects adding over 1.1 million net rentable square feet year-to-date and a raised 2025 outlook for NOI growth, Core FFO per share, and overall performance, position Public Storage to capitalize on stabilizing industry fundamentals and declining new supply competition.