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Public Storage, based in California, is a real estate investment trust that operates self-storage facilities. The company owns approximately 3,049 self-storage facilities in the United States with 219 million square feet of leasable area. Public Storage also has a 35% stake in Shurgard Europe, with approximately 281 facilities and 16 million square feet of leasable space in Western Europe. The European storage market has underperformed the US market. PSA currently has self-storage properties in 40 states. At the end of 2023, stable properties will make up approximately 75% of the company’s portfolio, and acquisitions 15%. Development and redevelopment properties constitute
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