Public Storage Company profile
About Public Storage
Public Storage is a real estate investment trust (REIT). The Company's principal business activities include the ownership and operation of self-storage facilities and other related operations, including tenant reinsurance and third-party self-storage management. The Company's segments include Self-Storage Operations and Ancillary Operations. The Self-Storage Operations segment includes the aggregated rental operations from the self-storage facilities it owns from same store facilities, acquired facilities, developed, and expanded facilities, and other non-same store facilities. The Ancillary Operations segment includes the combined operations of its tenant loss reinsurance, merchandise sales, and third-party property management operating segments. It holds interests in and consolidated approximately 2,787 self-storage facilities (an aggregate of about 198 million net rentable square feet of space). Its subsidiaries include PS LPT Properties Investors and PS California Holdings, Inc.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Public Storage revenues increased 17% to $3.42B. Net income applicable to common stockholders increased 58% to $1.73B. Revenues reflect Self Storage Operations segment increase of 18% to $3.2B, Ancillary operations segment increase of 10% to $212.3M. Net income benefited from Self Storage Operations segment income increase of 23% to $2.35B.
Equity composition
Common Stock $.10 Par, 03/11, 650M auth., 169,470,524 issd. Insiders own 0.32%. PO 3/97, 4.6M shares @ $28.375 by DLJ Secs. Eq. Stock, Series A $.01 Par, Preferred shs. $.01 Par, 03/11, 100M auth., 486,390 issd. 06/07, Name changedfrom Public Storage, Inc.
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