- Business
- Public Storage (NYSE: PSA), a leading real estate investment trust (REIT) and S&P 500 member, acquires, develops, owns, and operates self-storage facilities worldwide; it provides secure storage units for personal and business use, including climate-controlled options, vehicle storage such as outdoor parking and enclosed spaces, document and inventory management solutions, distribution services in select locations, and ancillary products like boxes, packing materials, tape, peanuts, and high-security locks; the company also offers tenant insurance and manages facilities for third-party owners.
Founded in 1972 and headquartered in Glendale, California, Public Storage operates approximately 3,432 self-storage facilities across 40 U.S. states with 250 million net rentable square feet, plus a 35% equity interest in Shurgard Self Storage Limited, which manages 321 facilities in seven Western European countries encompassing 18 million net rentable square feet; it serves roughly two million customers, including individuals, small businesses, entrepreneurs, and corporations seeking flexible storage for household goods, equipment, surplus inventory, seasonal merchandise, and sensitive records.
In the past year, Public Storage accelerated its growth through opportunistic acquisitions, purchasing 74 facilities totaling 5.2 million square feet across 17 states for $814.6 million in the first nine months of 2025, including 49 facilities in the third quarter alone; it maintains a $650 million development pipeline and, together with Ki Corporation, submitted a non-binding indicative offer in April 2025 to acquire Abacus Storage King in Australia and New Zealand, potentially securing a 50% stake in the operator of 126 sites to expand internationally amid fragmented markets and rising demand.