March 8, 2006 |
Public Storage Inc. agreed to buy Shurgard Storage Centers Inc. for $3.1 billion in stock, concluding a long-sought deal that would expand the nation's largest self-storage business, the companies said Tuesday. Glendale-based Public Storage, known for its empire of orange-colored mini-warehouses for the masses, was rebuffed by Shurgard in 2000 and again last summer but kept up the pursuit of its smaller rival.
September 27, 2005 |
Public Storage Inc. expressed willingness Monday to raise its takeover offer for Shurgard Storage Centers Inc. and said the owners of more than 50% of Shurgard's outstanding stock strongly endorsed a deal. Public Storage, a Glendale-based real estate investment trust that owns self-storage facilities, made an unsolicited $2.5-billion bid for its smaller rival Aug. 1 even though Shurgard said it was not for sale. Seattle-based Shurgard has refused to discuss a transaction.
August 2, 2005 |
Consumer spending drives our economy, but it also creates the headache of where to put all that stuff. That need helped create the nation's largest owner of mini warehouse facilities, Glendale-based Public Storage Inc. On Monday the company unveiled plans to get even bigger by revealing that it had made an unsolicited $2.5-billion offer to buy smaller rival Shurgard Storage Centers Inc. On July 8, Public Storage offered to pay 0.8 share of Public Storage stock for each share of Shurgard.
November 6, 2004 |
Public Storage Inc. said third-quarter funds from operations slipped to $97.8 million, or 76 cents a share, after expenses from stock redemption and hurricane losses, compared with $99.8 million, or 79 cents, a year earlier. The Glendale-based real estate investment trust, which rents out storage units in 37 states, said net income for the three months ended Sept. 30 rose 8.7% to $97.5 million. Average occupancy in the firm's facilities held steady at about 92%.
May 7, 2004 |
Public Storage Inc. said first-quarter profit fell 9.9% primarily because of the restructuring of preferred partnership interests. The Glendale-based real estate investment trust, which rents out storage units in 31 states, earned $69 million, or 17 cents a share, in the three months ended March 31, compared with $76.6 million, or 26 cents, in the same period a year earlier. Average occupancy in the firm's facilities rose to 89.6% from 84.9% a year earlier.
November 7, 2003 |
Public Storage Inc. said Thursday that its third-quarter profit rose 7.7% as it reduced losses from unprofitable operations and continued to attract new business through aggressive advertising and discounts. The Glendale-based real estate investment trust, which rents out storage units in 37 states, earned $89.7 million, or 39 cents a share, compared with $83.4 million, or 27 cents, in the same period last year.