Public Storage Q4 Earnings Call Highlights

At the board level, Russell said longtime Chairman Ron Havner is stepping down from the chair role after 15 years but will remain a trustee, while trustee John Reyes, Public Storage’s former CFO, is retiring from the board. The company appointed Shankh Mitra, CEO of Welltower and an independent trustee for the past five years, as Chairman. Russell also pointed to Mitra and Havner purchasing $25 million and $5 million, respectively, of out-of-the-money 10-year options with a six-year lockout, which he said d ...