Public Storage was founded in August 1972 by B. Wayne Hughes and Kenneth Volk Jr. in El Cajon, California. The company listed on the New York Stock Exchange (NYSE: PSA) in 1995 after restructuring from a real estate limited partnership model to a publicly traded REIT. Headquartered in Glendale, California, Public Storage operates as a self-storage REIT and holds membership in both the S&P 500 and FT Global 500. Public Storage operates 3,491 self-storage facilities across 40 states as of September 2025, encompassing approximately 254 million net rentable square feet. The company maintains a 35% equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which operates 323 facilities across seven Western European nations with approximately 18 million net rentable square feet. The investment strategy focuses on acquiring and developing self-storage properties through opportunistic acquisitions, ground-up development, and facility expansions. The company accelerated its acquisition activity in 2025, purchasing 74 self-storage facilities across 17 states totaling approximately 5.2 million square feet for $814.6 million during the first nine months of the year. In Q3 2025 alone, Public Storage acquired 49 facilities. California, Texas, and Florida represent top market concentrations, with the company maintaining dense facility clusters in major metropolitan areas to leverage shared marketing and operational efficiencies.