Public Storage, Inc. - 1998 dated Specimen Stock Certificate

Specimen Stock printed by American Bank Note Company. Public Storage is a prominent American self-storage company, headquartered in Glendale, California, and operates as a real estate investment trust (REIT). It holds the distinction of being the largest self-storage brand in the United States. In 2008, it was recognized as the largest among four publicly traded storage REITs. The company boasts over 2,200 self-storage facilities across the United States, Canada, and Europe. Additionally, it possesses a 42 percent stake in an office parks subsidiary, offers packing supplies, and provides various other services. As a REIT, Public Storage is owned by real estate investors who receive more than 90 percent of the company's profits as returns on their investments. Founded in 1972 by B. Wayne Hughes and Kenneth Volk Jr., the company expanded to 1,000 locations by 1989, utilizing capital from investors in real estate limited partnerships (RELPs). In 1995, it transitioned from a private entity to a publicly traded REIT following a merger with Storage Equities, which adopted the Public Storage name. In 2006, the company acquired Shurgard Storage Centers in a transaction valued at $5.5 billion. Shurgard has since been spun off into a separate publicly traded company, with Public Storage retaining a 36.6% ownership stake.