FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * HARKHAM URI P   2. Issuer Name and Ticker or Trading Symbol Public Storage [PSA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O PUBLIC STORAGE, 701 WESTERN AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 03/09/2011 (Street) GLENDALE, CA 91201 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 03/09/2011   M   2,500 A $ 74.23 2,500 D   Common Stock 03/09/2011   S   2,500 D $ 112.4778 (6) 0 D   Common Stock 03/09/2011   M   1,666 A $ 62.8 1,666 D   Common Stock 03/09/2011   S   1,666 D $ 1,124,523 (7) 0 D   Common Stock               23,504 I By Profit Sharing Plan (1) Common Stock               3,815 I By affiliated partnership (2) Common Stock               30,205 I As trustee (3)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (right to buy) (5)

$ 94.25

05/06/2011

05/06/2020

Common Stock

5,000

5,000

D

Stock Option (right to buy) (5)

$ 62.8

03/09/2011

M

1,666

05/07/2010

05/07/2019

Common Stock

1,666

$ 0

3,334

D

Stock Option (right to buy) (5)

$ 91.81

05/08/2009

05/08/2018

Common Stock

5,000

5,000

D

Stock Option (right to buy) (5)

$ 74.23

03/09/2011

M

2,500

08/02/2008

08/02/2017

Common Stock

2,500

$ 0

0

D

Stock Option (right to buy) (5)

$ 91.68

05/03/2008

05/03/2017

Common Stock

2,500

2,500

D

Stock Option (right to buy) (4)

$ 85.5

08/22/2007

08/22/2016

Common Stock

2,500

2,500

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
HARKHAM URI P C/O PUBLIC STORAGE 701 WESTERN AVENUE GLENDALE, CA 91201	X

Signatures

/s/ Stephanie G. Heim, Attorney in Fact		03/10/2011
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	By Uri P. Harkham, Trustee of Harkham Industries, Inc. (DBA Jonathan Martin, Inc.) Profit Sharing Plan dated 10/1/80.
(2)	By Harkham Ivestments L.P., an affiliated entity of Mr. Harkham
(3)	By Uri P. Harkham, Trustee of Uri Harkham Trust and ajusted to reflect inclusion of shares previously reported as directly held and held in another trust.
(4)	Stock Options granted pursuant to the 2001 Stock Option and Incentive Plan; options vest in 3 equal annual installments beginning 1 year from date of grant.
(5)	Stock Options granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan; options vest in 3 equal annual installments beginning 1 year from date of grant.
(6)	Represents weighted average purchase price. These shares were sold at prices ranging between $112.36 and $112.62. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.
(7)	Represents weighted average purchase price. These shares were sold at prices ranging between $112.3438 and $112.48. Full information regarding the number of shares sold at each separate price will be provided by the reporting person upon request to the staff of the Securities and Exchange Commission, the issuer, or a security holder of the issuer.

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