Public Storage Releases Inaugural Sustainability Report

GLENDALE, Calif.--(BUSINESS WIRE)--

Public Storage (NYSE:PSA) announced today the release of its inaugural Sustainability Report discussing the Company’s long-term focus and commitment to operating as a sustainable organization.

“For nearly five decades, Public Storage’s corporate strategy has been centered on one core philosophy: create value by operating our properties and Company for the long term. Sustainability is an important part of our business, and sustainable decision making has and will continue to benefit our long-term resilience. We are pleased to share these strategies and commitments in our inaugural Sustainability Report,” said Joe Russell, Chief Executive Officer.

Adherence to their company strategy has resulted in:

• A geographically diversified property portfolio with low environmental impact;
• A high-integrity corporate culture, fortress balance sheet, and unparalleled brand and operating platform that produce strong free cash flow with sustained growth; and
• Well-managed risk with significant value creation for our stakeholders.

The long-term focus has allowed Public Storage to create unique competitive advantages that, in 2019, helped result in our same-store operating margin being 500 to 1,000 basis points higher than the operating margins of our self storage REIT competitors.

Long-term resilience and sustainable value creation are core to their corporate decision making, which recognizes and acts on connections across good sustainability practices and economic returns on invested capital.

Public Storage’s sustainability is reflected in their:

• Low Environmental Impact: Properties consume less energy, use less water, and produce less waste relative to other real estate types.
• Proactive Initiatives: Initiatives such as “on demand” LED lighting, solar power generation, and low-water-use landscaping.
• People Focus: Engaging with stakeholders to promote long-term decision making while managing risk.
• Risk Management: Oversight, accountability, succession planning, and broader risk management are pervasive across the Public Storage company.

For more information on their company Sustainability Report, visit their website here where you can access the report directly.

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At March 31, 2020, we had: (i) interests in 2,492 self-storage facilities located in 38 states with approximately 170 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 234 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2020. Our headquarters are located in Glendale, California.

Source: BusinessWire, PublicStorage. Thumbnail: Photo by Markus Spiske on Unsplash