SECURITIES AND EXCHANGE COMMISSION

                              WASHINGTON, DC 20549


                                    FORM 8-K


                Current Report Pursuant to Section 13 or 15(d) of
                       The Securities Exchange Act of 1934

        Date of Report (date of earliest event reported) February 27, 2008

                                 PUBLIC STORAGE
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

     Maryland                          001-33519                 95-3551121
-------------------                    ---------                 ----------
(State or Other Jurisdiction    (Commission File Number)    (I.R.S. Employer
     Of Incorporation)                                   Identification Number)

               701 Western Avenue, Glendale, California 91201-2397
              (Address of principal executive offices) (Zip Code)

       Registrant's telephone number, including area code: (818) 244-8080
                                                           --------------

                                       N/A
          (Former name or former address, if changed since last report)


( _ )    Written  communications  pursuant to Rule 425 under the  Securities
         Act (17 CFR 230.425)

( _ )    Soliciting  material pursuant to Rule 14a-12 under the Exchange Act
         (17 CFR 240.14a-12)

( _ )    Pre-commencement communications pursuant to rule 14d-2(b) under the
         Exchange Act (17 CFR 240.14d-2(b))

( _ )    Pre-commencement communications pursuant to rule 13e-4(c) under the
         Exchange Act (17 CFR 240.13e-4(c))





Item 2.02     Results of Operations and Financial Condition and Exhibits

         On February 27, 2008 Public Storage announced its financial results for
the quarter ended  December 31, 2007.  The full text of the press release issued
in  connection  with the  announcement  is filed as Exhibit 99.1 to this Current
Report on Form 8-K.

         The information in this Form 8-K and the Exhibit  attached hereto shall
not be deemed "filed" for purposes of Section 18 of the Securities  Exchange Act
of 1934 (the  "Exchange  Act") or otherwise  subject to the  liabilities of that
section,  nor shall it be deemed  incorporated  by reference in any filing under
the Securities Act of 1933 or the Exchange Act, except as expressly set forth by
specific reference in such filing.

Item 7.01     Regulation FD Disclosure

         On February 27, 2008,  Public Storage announced that the quarterly cash
dividend for regular common shares had been  increased from $0.50 to $0.55.  The
announcement  is included in the text of the press release  furnished as Exhibit
99.1 to this Current  Report on From 8-K. The  information  in this From 8-K and
Exhibit  99.1  shall not be deemed  "filed"  for  purposes  of Section 18 of the
Exchange Act or otherwise subject to the liabilities of that section,  nor shall
it be deemed incorporated by reference in any filing under the Securities Act of
1933 or the Exchange Act, except as expressly set forth by specific reference in
such filing.

Item 9.01.    Financial Statements and Exhibits

(c)           Exhibits

         The  following  exhibit  relating  to Item  2.02  shall be deemed to be
furnished and not filed:

              99.1 Press Release dated February 27, 2008.





                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                             PUBLIC STORAGE


Dated: February 27, 2008


                                             By: /s/ John Reyes
                                                 -----------------------
                                                 John Reyes
                                                 Chief Financial Officer