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Public Storage Inc. was founded in 1972 by B. Wayne Hughes and Kenneth Volk Jr. It grew to 1,000 locations by 1989, using funding from investors in real estate limited partnerships (RELPs). The private company was re-structured as a publicly traded REIT in 1995, when Storage Equities merged with Public Storage and adopted its name.
Bradley Wayne Hughes (September 28, 1933 – August 18, 2021) was an American billionaire businessman, the founder and chairman of Public Storage, [1] the largest self-storage company in the U.S. doing business as a real estate investment trust (REIT). [2] At the time of his death, Hughes had an estimated net worth of US$3.3 billion.
Public Storage operates storage facilities across the United States and Europe as a member of the S&P 500 and FT Global 500. At present (2016), he is a member of the Board of Trustees of Public Storage, alongside his sister Tamara Gustavson. In 2005, Hughes Jr. founded American Commercial Equities.
Like most REITs, Public Storage is known more for using its free cash flow to pay dividends (it currently yields 4%, well above the S&P 500's 1.3% average). However, the top self-storage REIT ...
Tamara Hughes Gustavson (born 1961) is an American business executive and billionaire. [1] [2] The daughter of Public Storage co-founder and chairman B. Wayne Hughes, [3] Gustavson is Public Storage’s largest shareholder, owning 11% of the company. [2] As of August 2022, she ranked #251 on the Forbes 400 with a net worth of $8 billion.
Americold. Annaly Capital Management. Arlington Asset Investment. AvalonBay Communities. Boston Properties. Brandywine Realty Trust. Boardwalk Real Estate Investment Trust. Brookfield Property Partners. Brixmor Property Group.
The five largest REITs in the United States are: American Tower Corporation, Prologis, Crown Castle International, Simon Property Group and Weyerhaeuser. [ 1] Notable publicly traded real estate investment trusts based in the United States include: Company Name. REIT Type. Ticker Symbol.
Included Alleghany subsidiary Kentucky Trailer, which designs and manufacturers trailers. AltaLink. Electric Transmission. 92%. 2014/12/01 [7] C$3.24 Billion [8] A subsidiary of Berkshire Hathaway Energy. Ben Bridge Jeweler. Luxury Items.