Public Storage was founded on August 14, 1972, and built its first self-storage facility the same year.
Public Storage acquires, develops, owns, and operates self-storage facilities in the United States and Europe.
The company has more than 2,200 self-storage facilities with 127 million net rentable square feet in 38 states and 10 million net rentable square feet in 7 western European countries.
Public Storage is a publicly traded company, trading on the NASDAQ under the symbol PSA.
Some customers have found their items auctioned off after billing errors, such as in the case of a woman in Phoenix.
Public Storage is a real estate investment trust, or REIT, which means that it is a company that owns income-producing real estate. Some other examples of REITs are hotels, warehouses, hospitals, and shopping centers. As a REIT, Public Storage is not subject to federal income tax because it distributes 90% of its taxable income to shareholders.
Public Storage has 5,000 employees, is part of the S&P 500, is #361 in the FT Global 500, is #996 in the Fortune 1,000, and had $2.56 billion in revenue in 2016.
Public Storage maintains a corporate office in Glendale, California.