<SEC-DOCUMENT>0001698445-26-000004.txt : 20260224
<SEC-HEADER>0001698445-26-000004.hdr.sgml : 20260224
<ACCEPTANCE-DATETIME>20260224100551
ACCESSION NUMBER:		0001698445-26-000004
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20260220
FILED AS OF DATE:		20260224
DATE AS OF CHANGE:		20260224

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Mitra Shankh
		CENTRAL INDEX KEY:			0001698445
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33519
		FILM NUMBER:		26667992

	MAIL ADDRESS:	
		STREET 1:		4500 DORR STREET
		CITY:			TOLEDO
		STATE:			OH
		ZIP:			43615

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Public Storage
		CENTRAL INDEX KEY:			0001393311
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				953551121
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		701 WESTERN AVENUE
		CITY:			GLENDALE
		STATE:			CA
		ZIP:			91201-2349
		BUSINESS PHONE:		818-244-8080

	MAIL ADDRESS:	
		STREET 1:		701 WESTERN AVENUE
		CITY:			GLENDALE
		STATE:			CA
		ZIP:			91201-2349
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wk-form4_1771945548.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-02-20</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001393311</issuerCik>
        <issuerName>Public Storage</issuerName>
        <issuerTradingSymbol>PSA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001698445</rptOwnerCik>
            <rptOwnerName>Mitra Shankh</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PUBLIC STORAGE</rptOwnerStreet1>
            <rptOwnerStreet2>2811 INTERNET BOULEVARD</rptOwnerStreet2>
            <rptOwnerCity>FRISCO</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75034</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>OP Options</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>350</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2026-02-20</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>561293</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>44.54</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2032-02-20</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2036-02-20</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>561293</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>561293</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Reflects the private purchase by the reporting person from Public Storage OP, L.P. (&quot;Public Storage OP&quot;) of out-of-the-money non-qualified options (&quot;OP Options&quot;) to purchase common units (&quot;OP
Units&quot;) of Public Storage OP. The OP Options become exercisable 100% on the sixth anniversary of the settlement date. OP Units may be exchanged by the reporting person for Public Storage common
shares or the equivalent cash value of common shares, as determined by Public Storage.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Steven C. Babinski, Attorney-in-Fact</signatureName>
        <signatureDate>2026-02-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
