Ownership Submission
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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(Print or Type Responses)
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)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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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