Self-Storage REIT Public Storage Marks 50th Anniversary by Ringing NYSE Opening Bell

Public Storage Inc., a self-storage real estate investment trust (REIT) and third-party management firm, will celebrate its 50th anniversary today by having CEO Joe Russell ring the New York Stock Exchange (NYSE) opening bell at 9:30 a.m.

“We are honored to celebrate our 50th anniversary by ringing the NYSE opening bell,” Russell said in a press release. “On behalf of the current and prior management, I want to thank the Public Storage team for their invaluable contributions and our expanding customer base for their continued confidence in us. As we reflect on the successes of our past and present, I am very optimistic and excited about our future.”

Entrepreneurs Wayne Hughes and Ken Volk founded the company in 1972 with its first location in El Cajon, California. Today, the REIT owns or manages more than 2,900 self-storage properties nationwide and is developing its fifth generation of facilities. As the self-storage industry’s largest operator, it has more than 5,000 employees and serves about 1.7 million customers, the release stated.

A live feed of Russell ringing the bell will be available for viewing beginning at 9:29 a.m. ET at www.nyse.com/bell.

Based in Glendale, California, Public Storage has interests in 2,807 self-storage facilities in 39 states, with approximately 200 million net rentable square feet. It holds a 35 percent interest in Shurgard Self Storage SA, which has 256 facilities in seven European countries, with approximately 14 million net rentable square feet.

Source: Business Wire, Public Storage to Celebrate its 50th Anniversary by Ringing the NYSE Opening Bell

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