As a prominent Real Estate Investment Trust (REIT) included in both the S&P 500 and FT Global 500 indices, Public Storage's core business involves the acquisition, development, ownership, and management of self-storage properties. As of September 30, 2020, its extensive portfolio encompassed 2,504 self-storage locations spanning 38 U.S. states, offering roughly 171 million net rentable square feet. Furthermore, the company held an approximate 35% common equity stake in Shurgard Self Storage SA (Euronext Brussels:SHUR). This European affiliate oversaw 239 "Shurgard" branded self-storage facilities across seven Western European countries, accounting for approximately 13 million net rentable square feet. Public Storage also maintained an approximately 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB), which, by the same date, owned and managed about 28 million rentable square feet of commercial real estate. The corporate headquarters are situated in Glendale, California.
