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OFFON

PUBLIC STORAGE

(PSA)
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Public Storage : Provides Further Hurricane Irma Update

09/15/2017 | 08:13pm EDT

Public Storage (NYSE:PSA) is providing an additional progress update on the impact of Hurricane Irma. We have re-opened all properties in South Carolina and Georgia. We have also re-opened 91% of our Florida properties. Due to continuing power outages and repairs, 9% of our properties in Florida remain closed.

  • 259 Florida properties are re-opened with approximately 17.3 million net rentable square feet and 173,600 units.
  • 25 Florida properties continue to be temporarily closed with approximately 1.9 million net rentable square feet and 21,200 units.

We will announce other re-openings as soon as we determine that conditions and access to properties are safe.

We continue to maintain extended hours with our dedicated hotline (866) 381-0520 for those impacted by Hurricane Irma and any customer who would like to speak to a Public Storage Team Member (open from 8 a.m. to 1 a.m. EDT Monday through Friday and 8 a.m. to Midnight EDT Saturday and Sunday).

Company Information

Public Storage, a member of the S&P 500 and FT Global 500, is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters are located in Glendale, California. At June 30, 2017, the Company had interests in 2,358 self-storage facilities located in 38 states with approximately 156 million net rentable square feet in the United States and 220 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the “Shurgard” brand. The Company also owns a 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space, primarily flex, multi-tenant office and industrial space, at June 30, 2017.

Additional information about Public Storage is available on the Internet. The Company’s web site is PublicStorage.com.


ę Business Wire 2017
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Financials (USD)
Sales 2021 3 304 M - -
Net income 2021 1 469 M - -
Net Debt 2021 7 446 M - -
P/E ratio 2021 36,4x
Yield 2021 2,64%
Capitalization 53 248 M 53 248 M -
EV / Sales 2021 18,4x
EV / Sales 2022 17,7x
Nbr of Employees 5 400
Free-Float 86,4%
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Mean consensus HOLD
Number of Analysts 17
Last Close Price 303,88 $
Average target price 330,00 $
Spread / Average Target 8,60%
EPS Revisions
Managers and Directors
Joseph D. Russell President, Chief Executive Officer & Trustee
H. Thomas Boyle Chief Financial Officer & Senior Vice President
Ronald L. Havner Chairman
Natalia N. Johnson SVP, Chief Human Resource & Administrative Officer
Avedick Baruyr Poladian Independent Trustee
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