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    <link:label id="lab_ecd_TradingArrByIndTable_label_en-US" xlink:label="lab_ecd_TradingArrByIndTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangements, by Individual [Table]</link:label>
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    <link:label id="lab_srt_RangeMember_label_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeMember"/>
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    <link:label id="lab_psa_AcquisitionOfNonredeemableNoncontrollingInterestsInSubsidiaries_label_en-US" xlink:label="lab_psa_AcquisitionOfNonredeemableNoncontrollingInterestsInSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition Of Nonredeemable Noncontrolling Interests In Subsidiaries</link:label>
    <link:label id="lab_psa_AcquisitionOfNonredeemableNoncontrollingInterestsInSubsidiaries_documentation_en-US" xlink:label="lab_psa_AcquisitionOfNonredeemableNoncontrollingInterestsInSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Acquisition of redeemable noncontrolling interests in subsidiaries.</link:label>
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    <link:label id="lab_us-gaap_ShortTermDebtTypeAxis_label_en-US" xlink:label="lab_us-gaap_ShortTermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short-Term Debt, Type [Axis]</link:label>
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    <link:label id="lab_dei_Security12bTitle_019e1df9-295d-74c8-8300-b9e0179b8515_terseLabel_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:label id="lab_dei_Security12bTitle_label_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_Security12bTitle" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_Security12bTitle"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_Security12bTitle" xlink:to="lab_dei_Security12bTitle" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_019f7d34-4c7a-7026-95ad-954146052b53_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Numerator for dilutive net income per common share- net income allocable to common shareholders</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Diluted</link:label>
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    <link:label id="lab_us-gaap_SubsequentEventMember_019e1df9-29ec-7493-9bfc-1e5199e9cf7f_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event</link:label>
    <link:label id="lab_us-gaap_SubsequentEventMember_label_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventMember" xlink:to="lab_us-gaap_SubsequentEventMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFiscalYearFocus_019e1df9-2898-755b-a432-07aebfcb1ca0_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalYearFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalYearFocus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentFiscalYearFocus"/>
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    <link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_019e1df9-295c-7ee4-9549-6505a6e180a8_terseLabel_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average effective rate</link:label>
    <link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_label_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Weighted Average Interest Rate</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtWeightedAverageInterestRate" xlink:to="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToCompAmt_terseLabel_en-US" xlink:label="lab_ecd_AdjToCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation, Amount</link:label>
    <link:label id="lab_ecd_AdjToCompAmt_label_en-US" xlink:label="lab_ecd_AdjToCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation Amount</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToCompAmt" xlink:to="lab_ecd_AdjToCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DividendsAndDistributionsAccrued_019e1df9-295d-77a6-b540-944666e50792_terseLabel_en-US" xlink:label="lab_psa_DividendsAndDistributionsAccrued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends and distributions accrued</link:label>
    <link:label id="lab_psa_DividendsAndDistributionsAccrued_label_en-US" xlink:label="lab_psa_DividendsAndDistributionsAccrued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends And Distributions Accrued</link:label>
    <link:label id="lab_psa_DividendsAndDistributionsAccrued_documentation_en-US" xlink:label="lab_psa_DividendsAndDistributionsAccrued" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividends And Distributions Accrued</link:label>
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    <link:label id="lab_psa_EarningsBeforeInterestTaxesDepreciationAndAmortizationToInterestExpenseRatio_019e1df9-295c-715a-acce-9cb2e6650175_terseLabel_en-US" xlink:label="lab_psa_EarningsBeforeInterestTaxesDepreciationAndAmortizationToInterestExpenseRatio" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjusted EBTIDA to interest expense ratio</link:label>
    <link:label id="lab_psa_EarningsBeforeInterestTaxesDepreciationAndAmortizationToInterestExpenseRatio_label_en-US" xlink:label="lab_psa_EarningsBeforeInterestTaxesDepreciationAndAmortizationToInterestExpenseRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Before Interest Taxes Depreciation And Amortization To Interest Expense Ratio</link:label>
    <link:label id="lab_psa_EarningsBeforeInterestTaxesDepreciationAndAmortizationToInterestExpenseRatio_documentation_en-US" xlink:label="lab_psa_EarningsBeforeInterestTaxesDepreciationAndAmortizationToInterestExpenseRatio" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Earnings Before Interest Taxes Depreciation And Amortization To Interest Expense Ratio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_EarningsBeforeInterestTaxesDepreciationAndAmortizationToInterestExpenseRatio" xlink:href="psa-20260630.xsd#psa_EarningsBeforeInterestTaxesDepreciationAndAmortizationToInterestExpenseRatio"/>
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    <link:label id="lab_us-gaap_SegmentReportingAbstract_019e1df9-2898-76f6-9e2c-2e7ed51e3653_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Reporting [Abstract]</link:label>
    <link:label id="lab_us-gaap_SegmentReportingAbstract_label_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Abstract]</link:label>
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    <link:label id="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_019e1df9-295c-770b-8439-0b8ed9707631_verboseLabel_en-US" xlink:label="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Self-storage cost of operations</link:label>
    <link:label id="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_019e1df9-295c-7e92-871b-2244c9560b97_negatedLabel_en-US" xlink:label="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Cost of operations:</link:label>
    <link:label id="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_label_en-US" xlink:label="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Direct Costs of Leased and Rented Property or Equipment</link:label>
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    <link:label id="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, and Capitalized Cost, Software to be Sold, Leased, or Marketed, Estimated Amortization Expense [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:to="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockValue_019e1df9-295c-7836-aa5c-67ec503501ac_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Common Shares, $0.10 par value, 650,000,000 shares authorized, 175,462,847 shares issued (175,408,393 shares at December 31, 2024)</link:label>
    <link:label id="lab_us-gaap_CommonStockValue_label_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Value, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue" xlink:to="lab_us-gaap_CommonStockValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_019e1df9-295c-769a-8bfb-9c552edb222c_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Various lease commitments 2026</link:label>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Liability, to be Paid, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_019e1df9-2898-7178-8394-ce8e556f7185_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Taxes paid upon net share settlement of restricted share units</link:label>
    <link:label id="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment, Tax Withholding, Share-Based Payment Arrangement</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:to="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpense_019e1df9-295d-72f0-ace6-2837f0089fdd_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
    <link:label id="lab_us-gaap_InterestExpense_019e1df9-295d-73c0-a37f-f8f189cb41db_negatedLabel_en-US" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
    <link:label id="lab_us-gaap_InterestExpense_label_en-US" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Operating and Nonoperating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpense" xlink:to="lab_us-gaap_InterestExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_ScheduleOfRealEstateFacilitiesTable_019e1df9-295c-735e-8f18-75d51bed6bc4_terseLabel_en-US" xlink:label="lab_psa_ScheduleOfRealEstateFacilitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Real Estate Facilities [Table]</link:label>
    <link:label id="lab_psa_ScheduleOfRealEstateFacilitiesTable_label_en-US" xlink:label="lab_psa_ScheduleOfRealEstateFacilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Real Estate Facilities [Table]</link:label>
    <link:label id="lab_psa_ScheduleOfRealEstateFacilitiesTable_documentation_en-US" xlink:label="lab_psa_ScheduleOfRealEstateFacilitiesTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Real Estate Facilities [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_ScheduleOfRealEstateFacilitiesTable" xlink:href="psa-20260630.xsd#psa_ScheduleOfRealEstateFacilitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_ScheduleOfRealEstateFacilitiesTable" xlink:to="lab_psa_ScheduleOfRealEstateFacilitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesLPreferredStockMember_019e1df9-29ec-7911-9005-ee8ca863ee9c_terseLabel_en-US" xlink:label="lab_psa_SeriesLPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series L Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesLPreferredStockMember_019e1df9-29ec-7038-accd-bd8c2210d7f0_verboseLabel_en-US" xlink:label="lab_psa_SeriesLPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series L</link:label>
    <link:label id="lab_psa_SeriesLPreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesLPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series L Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesLPreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesLPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Outstanding nonredeemable series L preferred stock or outstanding series L preferred stock. Classified within stockholders' equity if nonredeemable or redeemable solely at the option of the issuer. Classified within temporary equity if redemption is outside the control of the issuer.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesLPreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesLPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesLPreferredStockMember" xlink:to="lab_psa_SeriesLPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDeterminationDate_terseLabel_en-US" xlink:label="lab_ecd_RestatementDeterminationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement Determination Date</link:label>
    <link:label id="lab_ecd_RestatementDeterminationDate_label_en-US" xlink:label="lab_ecd_RestatementDeterminationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Determination Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDeterminationDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RestatementDeterminationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDeterminationDate" xlink:to="lab_ecd_RestatementDeterminationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueAugust12053Member_019e1df9-29ec-7522-a7da-d3d8ea9117bc_terseLabel_en-US" xlink:label="lab_psa_NotesDueAugust12053Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due August 1, 2053</link:label>
    <link:label id="lab_psa_NotesDueAugust12053Member_label_en-US" xlink:label="lab_psa_NotesDueAugust12053Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due August 1, 2053 [Member]</link:label>
    <link:label id="lab_psa_NotesDueAugust12053Member_documentation_en-US" xlink:label="lab_psa_NotesDueAugust12053Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due August 1, 2053</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueAugust12053Member" xlink:href="psa-20260630.xsd#psa_NotesDueAugust12053Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueAugust12053Member" xlink:to="lab_psa_NotesDueAugust12053Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_019e1df9-29ec-7ab9-8c30-9b0677334942_verboseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Investment in unconsolidated real estate entity</link:label>
    <link:label id="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures_label_en-US" xlink:label="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:to="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentRiskAxis_019e1df9-295c-77a8-b8ba-32f656c6ccda_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instrument [Axis]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentRiskAxis_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instrument [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentRiskAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentRiskAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentRiskAxis" xlink:to="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DirectAndIndirectInterestSelfStorageFacilities_019e1df9-29ec-7936-98ad-48c1b0a7a730_terseLabel_en-US" xlink:label="lab_psa_DirectAndIndirectInterestSelfStorageFacilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PSA number of self-storage facilities</link:label>
    <link:label id="lab_psa_DirectAndIndirectInterestSelfStorageFacilities_label_en-US" xlink:label="lab_psa_DirectAndIndirectInterestSelfStorageFacilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Direct And Indirect Interest Self Storage Facilities</link:label>
    <link:label id="lab_psa_DirectAndIndirectInterestSelfStorageFacilities_documentation_en-US" xlink:label="lab_psa_DirectAndIndirectInterestSelfStorageFacilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of self-storage facilities direct and indirect interest.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_DirectAndIndirectInterestSelfStorageFacilities" xlink:href="psa-20260630.xsd#psa_DirectAndIndirectInterestSelfStorageFacilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_DirectAndIndirectInterestSelfStorageFacilities" xlink:to="lab_psa_DirectAndIndirectInterestSelfStorageFacilities" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NumberOfRealEstateFacilitiesThatAreSecuringDebt_019e1df9-29ec-7d9a-b0d4-e00a8eb9c272_terseLabel_en-US" xlink:label="lab_psa_NumberOfRealEstateFacilitiesThatAreSecuringDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of real estate facilities securing debt</link:label>
    <link:label id="lab_psa_NumberOfRealEstateFacilitiesThatAreSecuringDebt_label_en-US" xlink:label="lab_psa_NumberOfRealEstateFacilitiesThatAreSecuringDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Real Estate Facilities That Are Securing Debt</link:label>
    <link:label id="lab_psa_NumberOfRealEstateFacilitiesThatAreSecuringDebt_documentation_en-US" xlink:label="lab_psa_NumberOfRealEstateFacilitiesThatAreSecuringDebt" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of Real Estate Facilities That Are Securing Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NumberOfRealEstateFacilitiesThatAreSecuringDebt" xlink:href="psa-20260630.xsd#psa_NumberOfRealEstateFacilitiesThatAreSecuringDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NumberOfRealEstateFacilitiesThatAreSecuringDebt" xlink:to="lab_psa_NumberOfRealEstateFacilitiesThatAreSecuringDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DilutiveSecurities_019f7d30-006b-767c-9a5e-c5374e5ba49a_terseLabel_en-US" xlink:label="lab_us-gaap_DilutiveSecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of assumed conversion of noncontrolling interest shares</link:label>
    <link:label id="lab_us-gaap_DilutiveSecurities_label_en-US" xlink:label="lab_us-gaap_DilutiveSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dilutive Securities, Effect on Basic Earnings Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DilutiveSecurities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DilutiveSecurities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DilutiveSecurities" xlink:to="lab_us-gaap_DilutiveSecurities" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RealEstateInvestmentPropertyOperatingFacilitiesRollForward_019e1df9-2898-71b3-aaa7-a73257ceaf36_terseLabel_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyOperatingFacilitiesRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating facilities, at cost:</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyOperatingFacilitiesRollForward_label_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyOperatingFacilitiesRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Operating Facilities [Roll Forward]</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyOperatingFacilitiesRollForward_documentation_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyOperatingFacilitiesRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Operating Facilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RealEstateInvestmentPropertyOperatingFacilitiesRollForward" xlink:href="psa-20260630.xsd#psa_RealEstateInvestmentPropertyOperatingFacilitiesRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RealEstateInvestmentPropertyOperatingFacilitiesRollForward" xlink:to="lab_psa_RealEstateInvestmentPropertyOperatingFacilitiesRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AmendmentFlag_019e1df9-29ec-7966-b000-b7a267bb4801_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:label id="lab_dei_AmendmentFlag_label_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_AmendmentFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentFlag" xlink:to="lab_dei_AmendmentFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_019e1df9-295d-7987-9bd7-8aa39c73ae19_terseLabel_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_label_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCommonStockSharesOutstanding" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding" xlink:to="lab_dei_EntityCommonStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockRedemptionPricePerShare_019e1df9-295d-7bac-b513-d7bb080f6ec7_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockRedemptionPricePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemption price per share (in USD per share)</link:label>
    <link:label id="lab_us-gaap_PreferredStockRedemptionPricePerShare_label_en-US" xlink:label="lab_us-gaap_PreferredStockRedemptionPricePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Redemption Price Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockRedemptionPricePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockRedemptionPricePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockRedemptionPricePerShare" xlink:to="lab_us-gaap_PreferredStockRedemptionPricePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueJanuary202034Member_019e1df9-29ec-7a0d-ae5a-e576d64814d6_terseLabel_en-US" xlink:label="lab_psa_NotesDueJanuary202034Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due January 20, 2034</link:label>
    <link:label id="lab_psa_NotesDueJanuary202034Member_label_en-US" xlink:label="lab_psa_NotesDueJanuary202034Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due January 20, 2034 [Member]</link:label>
    <link:label id="lab_psa_NotesDueJanuary202034Member_documentation_en-US" xlink:label="lab_psa_NotesDueJanuary202034Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due January 20, 2034</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueJanuary202034Member" xlink:href="psa-20260630.xsd#psa_NotesDueJanuary202034Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueJanuary202034Member" xlink:to="lab_psa_NotesDueJanuary202034Member" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_CreditFacilityAndCommercialPaperProgramTextBlock_019e1df9-29ec-7a4a-a295-62f3c25ef4f3_terseLabel_en-US" xlink:label="lab_psa_CreditFacilityAndCommercialPaperProgramTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility and Commercial Paper Program</link:label>
    <link:label id="lab_psa_CreditFacilityAndCommercialPaperProgramTextBlock_label_en-US" xlink:label="lab_psa_CreditFacilityAndCommercialPaperProgramTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility And Commercial Paper Program [Text Block]</link:label>
    <link:label id="lab_psa_CreditFacilityAndCommercialPaperProgramTextBlock_documentation_en-US" xlink:label="lab_psa_CreditFacilityAndCommercialPaperProgramTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Credit Facility [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_CreditFacilityAndCommercialPaperProgramTextBlock" xlink:href="psa-20260630.xsd#psa_CreditFacilityAndCommercialPaperProgramTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_CreditFacilityAndCommercialPaperProgramTextBlock" xlink:to="lab_psa_CreditFacilityAndCommercialPaperProgramTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_019e1df9-295d-79c5-af48-725ef47f43ea_negatedLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Accumulated depreciation</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_019e1df9-295d-717f-bb51-33bc2546250d_negatedPeriodStartLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance (Accumulated depreciation)</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_019e1df9-295d-7d37-b765-b48b9e933c80_negatedPeriodEndLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance (Accumulated depreciation)</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Accumulated Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_019e1df9-295c-7e39-ad34-75bef77bc6ae_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Various lease commitments thereafter</link:label>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Liability, to be Paid, after Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StandbyLettersOfCreditMember_019e1df9-295c-7139-96f0-87fb289e116a_terseLabel_en-US" xlink:label="lab_us-gaap_StandbyLettersOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Standby Letters of Credit</link:label>
    <link:label id="lab_us-gaap_StandbyLettersOfCreditMember_label_en-US" xlink:label="lab_us-gaap_StandbyLettersOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Standby Letters of Credit [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StandbyLettersOfCreditMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StandbyLettersOfCreditMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StandbyLettersOfCreditMember" xlink:to="lab_us-gaap_StandbyLettersOfCreditMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_AffirmativeVoteOfOutstandingSharesOfAllPreferredSharesVotingAsSingleClassRequiredToIssueSharesRankingSeniorToPreferredSharesPercent_019e1df9-29ec-72ef-8535-899420d2ce5c_terseLabel_en-US" xlink:label="lab_psa_AffirmativeVoteOfOutstandingSharesOfAllPreferredSharesVotingAsSingleClassRequiredToIssueSharesRankingSeniorToPreferredSharesPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affirmative vote of outstanding shares of all Preferred Shares, voting as a single class, required to issue shares ranking senior to Preferred Shares (in percent)</link:label>
    <link:label id="lab_psa_AffirmativeVoteOfOutstandingSharesOfAllPreferredSharesVotingAsSingleClassRequiredToIssueSharesRankingSeniorToPreferredSharesPercent_label_en-US" xlink:label="lab_psa_AffirmativeVoteOfOutstandingSharesOfAllPreferredSharesVotingAsSingleClassRequiredToIssueSharesRankingSeniorToPreferredSharesPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Affirmative Vote of Outstanding Shares of all Preferred Shares, Voting as a Single Class, Required to Issue Shares Ranking Senior to Preferred Shares, Percent</link:label>
    <link:label id="lab_psa_AffirmativeVoteOfOutstandingSharesOfAllPreferredSharesVotingAsSingleClassRequiredToIssueSharesRankingSeniorToPreferredSharesPercent_documentation_en-US" xlink:label="lab_psa_AffirmativeVoteOfOutstandingSharesOfAllPreferredSharesVotingAsSingleClassRequiredToIssueSharesRankingSeniorToPreferredSharesPercent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Affirmative Vote of Outstanding Shares of all Preferred Shares, Voting as a Single Class, Required to Issue Shares Ranking Senior to Preferred Shares, Percent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_AffirmativeVoteOfOutstandingSharesOfAllPreferredSharesVotingAsSingleClassRequiredToIssueSharesRankingSeniorToPreferredSharesPercent" xlink:href="psa-20260630.xsd#psa_AffirmativeVoteOfOutstandingSharesOfAllPreferredSharesVotingAsSingleClassRequiredToIssueSharesRankingSeniorToPreferredSharesPercent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_AffirmativeVoteOfOutstandingSharesOfAllPreferredSharesVotingAsSingleClassRequiredToIssueSharesRankingSeniorToPreferredSharesPercent" xlink:to="lab_psa_AffirmativeVoteOfOutstandingSharesOfAllPreferredSharesVotingAsSingleClassRequiredToIssueSharesRankingSeniorToPreferredSharesPercent" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueJuly12030Member_019e1df9-2898-7ee0-adb2-4c2b3db14076_terseLabel_en-US" xlink:label="lab_psa_NotesDueJuly12030Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due July 1, 2030</link:label>
    <link:label id="lab_psa_NotesDueJuly12030Member_label_en-US" xlink:label="lab_psa_NotesDueJuly12030Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes due July 1, 2030 [Member]</link:label>
    <link:label id="lab_psa_NotesDueJuly12030Member_documentation_en-US" xlink:label="lab_psa_NotesDueJuly12030Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes due July 1, 2030</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueJuly12030Member" xlink:href="psa-20260630.xsd#psa_NotesDueJuly12030Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueJuly12030Member" xlink:to="lab_psa_NotesDueJuly12030Member" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostAcquisitionOfRealEstateFacilities_019e1df9-295d-79d9-9816-78d42afe04bd_terseLabel_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostAcquisitionOfRealEstateFacilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostAcquisitionOfRealEstateFacilities_label_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostAcquisitionOfRealEstateFacilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property At Cost, Acquisition of Real Estate Facilities</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostAcquisitionOfRealEstateFacilities_documentation_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostAcquisitionOfRealEstateFacilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property At Cost, Acquisition of Real Estate Facilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RealEstateInvestmentPropertyAtCostAcquisitionOfRealEstateFacilities" xlink:href="psa-20260630.xsd#psa_RealEstateInvestmentPropertyAtCostAcquisitionOfRealEstateFacilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RealEstateInvestmentPropertyAtCostAcquisitionOfRealEstateFacilities" xlink:to="lab_psa_RealEstateInvestmentPropertyAtCostAcquisitionOfRealEstateFacilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherCostOfOperatingRevenue_019e1df9-29ec-7313-b321-47975dd090f7_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherCostOfOperatingRevenue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Ancillary cost of operations</link:label>
    <link:label id="lab_us-gaap_OtherCostOfOperatingRevenue_019e1df9-29ec-7096-b2e4-115468b883bb_negatedLabel_en-US" xlink:label="lab_us-gaap_OtherCostOfOperatingRevenue" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Cost of operations</link:label>
    <link:label id="lab_us-gaap_OtherCostOfOperatingRevenue_label_en-US" xlink:label="lab_us-gaap_OtherCostOfOperatingRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Cost of Operating Revenue</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCostOfOperatingRevenue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherCostOfOperatingRevenue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCostOfOperatingRevenue" xlink:to="lab_us-gaap_OtherCostOfOperatingRevenue" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_AllocationOfNetIncomeToRestrictedShareUnitsAndUnvestedLTIPUnits_019e1df9-2898-7622-9783-07f1d08245d7_negatedLabel_en-US" xlink:label="lab_psa_AllocationOfNetIncomeToRestrictedShareUnitsAndUnvestedLTIPUnits" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Restricted share units and unvested LTIP units</link:label>
    <link:label id="lab_psa_AllocationOfNetIncomeToRestrictedShareUnitsAndUnvestedLTIPUnits_label_en-US" xlink:label="lab_psa_AllocationOfNetIncomeToRestrictedShareUnitsAndUnvestedLTIPUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allocation Of Net Income To Restricted Share Units And Unvested LTIP Units</link:label>
    <link:label id="lab_psa_AllocationOfNetIncomeToRestrictedShareUnitsAndUnvestedLTIPUnits_documentation_en-US" xlink:label="lab_psa_AllocationOfNetIncomeToRestrictedShareUnitsAndUnvestedLTIPUnits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income allocation to holders of restricted share units.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_AllocationOfNetIncomeToRestrictedShareUnitsAndUnvestedLTIPUnits" xlink:href="psa-20260630.xsd#psa_AllocationOfNetIncomeToRestrictedShareUnitsAndUnvestedLTIPUnits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_AllocationOfNetIncomeToRestrictedShareUnitsAndUnvestedLTIPUnits" xlink:to="lab_psa_AllocationOfNetIncomeToRestrictedShareUnitsAndUnvestedLTIPUnits" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromLicenseFeesReceived_019e1df9-295c-77b0-aeeb-376a660ab804_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromLicenseFeesReceived" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">License fees received</link:label>
    <link:label id="lab_us-gaap_ProceedsFromLicenseFeesReceived_label_en-US" xlink:label="lab_us-gaap_ProceedsFromLicenseFeesReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from License Fees Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromLicenseFeesReceived" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromLicenseFeesReceived"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromLicenseFeesReceived" xlink:to="lab_us-gaap_ProceedsFromLicenseFeesReceived" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_019e1df9-2898-71db-834b-958acde1bdf2_verboseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transactions</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToNonPeoNeoCompFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Non-PEO NEO Compensation Footnote</link:label>
    <link:label id="lab_ecd_AdjToNonPeoNeoCompFnTextBlock_label_en-US" xlink:label="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Non-PEO NEO Compensation Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToNonPeoNeoCompFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:to="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesUPreferredStockMember_019f83f3-e1c1-7e80-9aa7-0943208bce83_terseLabel_en-US" xlink:label="lab_psa_SeriesUPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series U Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesUPreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesUPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series U Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesUPreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesUPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series U Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesUPreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesUPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesUPreferredStockMember" xlink:to="lab_psa_SeriesUPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressStateOrProvince_019e1df9-2898-7fad-a8e4-4f8a453fd8bd_terseLabel_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:label id="lab_dei_EntityAddressStateOrProvince_label_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressStateOrProvince" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressStateOrProvince"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince" xlink:to="lab_dei_EntityAddressStateOrProvince" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoTotalCompAmt_terseLabel_en-US" xlink:label="lab_ecd_PeoTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Total Compensation Amount</link:label>
    <link:label id="lab_ecd_PeoTotalCompAmt_label_en-US" xlink:label="lab_ecd_PeoTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Total Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoTotalCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoTotalCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoTotalCompAmt" xlink:to="lab_ecd_PeoTotalCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_019e1df9-295d-7f06-8827-cf51dc63ac42_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency translation gain (loss) on investment in Shurgard</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_019e1df9-295c-76f3-b2fd-4bf25c79bd81_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, par value (in USD per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_label_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockParOrStatedValuePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionAxis_019e1df9-295c-784b-9338-a06d300ee2c2_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Axis]</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionAxis_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetAcquisitionAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionAxis" xlink:to="lab_us-gaap_AssetAcquisitionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_CapitalExpendituresForEnergyEfficienciesRemainingAtPeriodEnd_019e1df9-2898-7ad5-ae85-716fa87f5b93_negatedTerseLabel_en-US" xlink:label="lab_psa_CapitalExpendituresForEnergyEfficienciesRemainingAtPeriodEnd" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures for energy efficiencies (Solar, heat pumps, LED lighting)</link:label>
    <link:label id="lab_psa_CapitalExpendituresForEnergyEfficienciesRemainingAtPeriodEnd_label_en-US" xlink:label="lab_psa_CapitalExpendituresForEnergyEfficienciesRemainingAtPeriodEnd" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Expenditures For Energy Efficiencies Remaining At Period End</link:label>
    <link:label id="lab_psa_CapitalExpendituresForEnergyEfficienciesRemainingAtPeriodEnd_documentation_en-US" xlink:label="lab_psa_CapitalExpendituresForEnergyEfficienciesRemainingAtPeriodEnd" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Expenditures For Energy Efficiencies Remaining At Period End</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_CapitalExpendituresForEnergyEfficienciesRemainingAtPeriodEnd" xlink:href="psa-20260630.xsd#psa_CapitalExpendituresForEnergyEfficienciesRemainingAtPeriodEnd"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_CapitalExpendituresForEnergyEfficienciesRemainingAtPeriodEnd" xlink:to="lab_psa_CapitalExpendituresForEnergyEfficienciesRemainingAtPeriodEnd" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeNotionalAmount_019e1df9-295c-7df4-bc5f-8f0b7b7da8c7_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notional amount</link:label>
    <link:label id="lab_us-gaap_DerivativeNotionalAmount_label_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Notional Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeNotionalAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeNotionalAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNotionalAmount" xlink:to="lab_us-gaap_DerivativeNotionalAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_019e1df9-295d-76f6-b047-568d5c79d444_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Basic weighted average common shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_019e1df9-295d-7b85-afca-8e6f4275be78_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Denominator for basic net income per share - weighted average common shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_GuaranteeNotesDue2034Member_019e1df9-29ec-7b9f-8bad-d797d52a3d4b_terseLabel_en-US" xlink:label="lab_psa_GuaranteeNotesDue2034Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes Due 2034</link:label>
    <link:label id="lab_psa_GuaranteeNotesDue2034Member_label_en-US" xlink:label="lab_psa_GuaranteeNotesDue2034Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guarantee Notes Due 2034 [Member]</link:label>
    <link:label id="lab_psa_GuaranteeNotesDue2034Member_documentation_en-US" xlink:label="lab_psa_GuaranteeNotesDue2034Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Guarantee Notes Due 2034</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_GuaranteeNotesDue2034Member" xlink:href="psa-20260630.xsd#psa_GuaranteeNotesDue2034Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_GuaranteeNotesDue2034Member" xlink:to="lab_psa_GuaranteeNotesDue2034Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingAggtErrCompAmt_terseLabel_en-US" xlink:label="lab_ecd_OutstandingAggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding Aggregate Erroneous Compensation Amount</link:label>
    <link:label id="lab_ecd_OutstandingAggtErrCompAmt_label_en-US" xlink:label="lab_ecd_OutstandingAggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Aggregate Erroneous Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingAggtErrCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OutstandingAggtErrCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingAggtErrCompAmt" xlink:to="lab_ecd_OutstandingAggtErrCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NotesReceivableMember_019e1df9-29ec-77e5-944a-ec146d7b030c_terseLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes Receivable</link:label>
    <link:label id="lab_us-gaap_NotesReceivableMember_label_en-US" xlink:label="lab_us-gaap_NotesReceivableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Receivable [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NotesReceivableMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NotesReceivableMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesReceivableMember" xlink:to="lab_us-gaap_NotesReceivableMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NetRentableAreaDevelopedOrExpanded_019e1df9-295c-72e9-836e-73b62eadc9a6_terseLabel_en-US" xlink:label="lab_psa_NetRentableAreaDevelopedOrExpanded" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net rentable area developed or expanded</link:label>
    <link:label id="lab_psa_NetRentableAreaDevelopedOrExpanded_label_en-US" xlink:label="lab_psa_NetRentableAreaDevelopedOrExpanded" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Rentable Area Developed Or Expanded</link:label>
    <link:label id="lab_psa_NetRentableAreaDevelopedOrExpanded_documentation_en-US" xlink:label="lab_psa_NetRentableAreaDevelopedOrExpanded" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net Rentable Area Developed Or Expanded</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NetRentableAreaDevelopedOrExpanded" xlink:href="psa-20260630.xsd#psa_NetRentableAreaDevelopedOrExpanded"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NetRentableAreaDevelopedOrExpanded" xlink:to="lab_psa_NetRentableAreaDevelopedOrExpanded" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfReportableSegments_019e1df9-29ec-7532-a75c-70a329f3daee_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of reportable segments</link:label>
    <link:label id="lab_us-gaap_NumberOfReportableSegments_label_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Reportable Segments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfReportableSegments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfReportableSegments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfReportableSegments" xlink:to="lab_us-gaap_NumberOfReportableSegments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_019e1df9-29ec-7331-8549-ef859dd765bf_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Various lease commitments 2029</link:label>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Liability, to be Paid, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UnfundedLoanCommitmentMember_019e1df9-2898-7d02-83f3-0bf150bfcf3d_terseLabel_en-US" xlink:label="lab_us-gaap_UnfundedLoanCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfunded Loan Commitment</link:label>
    <link:label id="lab_us-gaap_UnfundedLoanCommitmentMember_label_en-US" xlink:label="lab_us-gaap_UnfundedLoanCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unfunded Loan Commitment [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnfundedLoanCommitmentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnfundedLoanCommitmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnfundedLoanCommitmentMember" xlink:to="lab_us-gaap_UnfundedLoanCommitmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_ActivityInRealEstateFacilitiesTableTextBlock_019e1df9-295d-7741-b9ee-2344e3ae95f0_terseLabel_en-US" xlink:label="lab_psa_ActivityInRealEstateFacilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Real Estate Activities</link:label>
    <link:label id="lab_psa_ActivityInRealEstateFacilitiesTableTextBlock_label_en-US" xlink:label="lab_psa_ActivityInRealEstateFacilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Activity In Real Estate Facilities [Table Text Block]</link:label>
    <link:label id="lab_psa_ActivityInRealEstateFacilitiesTableTextBlock_documentation_en-US" xlink:label="lab_psa_ActivityInRealEstateFacilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Activity In Real Estate Facilities [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_ActivityInRealEstateFacilitiesTableTextBlock" xlink:href="psa-20260630.xsd#psa_ActivityInRealEstateFacilitiesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_ActivityInRealEstateFacilitiesTableTextBlock" xlink:to="lab_psa_ActivityInRealEstateFacilitiesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_019e1df9-2898-7ac7-a432-f3a1c6f4a65b_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total land and buildings, at cost</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_019e1df9-2898-7e78-8a13-786ffba1f63a_periodStartLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance (Operating facilities, at cost)</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_019e1df9-2898-7394-a378-1fe03300cf81_periodEndLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance (Operating facilities, at cost)</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, at Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateInvestmentPropertyAtCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestAndOtherIncome_019e1df9-2898-75a4-b09c-19d0681e58a0_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndOtherIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest and other income (expense)</link:label>
    <link:label id="lab_us-gaap_InterestAndOtherIncome_label_en-US" xlink:label="lab_us-gaap_InterestAndOtherIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and Other Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestAndOtherIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestAndOtherIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndOtherIncome" xlink:to="lab_us-gaap_InterestAndOtherIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfExtinguishmentOfDebtTable_019e1df9-295d-7467-9774-1c761ec95ff5_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfExtinguishmentOfDebtTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extinguishment of Debt [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfExtinguishmentOfDebtTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfExtinguishmentOfDebtTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extinguishment of Debt [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfExtinguishmentOfDebtTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfExtinguishmentOfDebtTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfExtinguishmentOfDebtTable" xlink:to="lab_us-gaap_ScheduleOfExtinguishmentOfDebtTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShortTermDebtTypeDomain_019f80aa-8fa7-76b4-9b24-b8d7026620e8_terseLabel_en-US" xlink:label="lab_us-gaap_ShortTermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Short-Term Debt, Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ShortTermDebtTypeDomain_label_en-US" xlink:label="lab_us-gaap_ShortTermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short-Term Debt, Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShortTermDebtTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShortTermDebtTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShortTermDebtTypeDomain" xlink:to="lab_us-gaap_ShortTermDebtTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressCityOrTown_019e1df9-295c-7e05-a0c8-6e43f500ef65_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressCityOrTown"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionConsiderationTransferred_019e1df9-295d-7693-90da-8adc52994298_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total cost of acquisition</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionConsiderationTransferred_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition, Consideration Transferred</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetAcquisitionConsiderationTransferred"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:to="lab_us-gaap_AssetAcquisitionConsiderationTransferred" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeNet_019e1df9-295c-7c27-9e8c-c2ed4cf54e00_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative, fair value</link:label>
    <link:label id="lab_us-gaap_DerivativeFairValueOfDerivativeNet_label_en-US" xlink:label="lab_us-gaap_DerivativeFairValueOfDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Fair Value, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFairValueOfDerivativeNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeFairValueOfDerivativeNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFairValueOfDerivativeNet" xlink:to="lab_us-gaap_DerivativeFairValueOfDerivativeNet" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueJuly12035Member_019e1df9-2898-7056-96ca-6470a9e1b003_terseLabel_en-US" xlink:label="lab_psa_NotesDueJuly12035Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due July 1, 2035</link:label>
    <link:label id="lab_psa_NotesDueJuly12035Member_label_en-US" xlink:label="lab_psa_NotesDueJuly12035Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes due July 1, 2035 [Member]</link:label>
    <link:label id="lab_psa_NotesDueJuly12035Member_documentation_en-US" xlink:label="lab_psa_NotesDueJuly12035Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes due July 1, 2035</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueJuly12035Member" xlink:href="psa-20260630.xsd#psa_NotesDueJuly12035Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueJuly12035Member" xlink:to="lab_psa_NotesDueJuly12035Member" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_IndirectCostOfOperations_019e1df9-2898-784e-b637-2bdcfbcb8ffc_negatedLabel_en-US" xlink:label="lab_psa_IndirectCostOfOperations" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Indirect cost of operations</link:label>
    <link:label id="lab_psa_IndirectCostOfOperations_label_en-US" xlink:label="lab_psa_IndirectCostOfOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indirect Cost Of Operations</link:label>
    <link:label id="lab_psa_IndirectCostOfOperations_documentation_en-US" xlink:label="lab_psa_IndirectCostOfOperations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Indirect Cost Of Operations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_IndirectCostOfOperations" xlink:href="psa-20260630.xsd#psa_IndirectCostOfOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_IndirectCostOfOperations" xlink:to="lab_psa_IndirectCostOfOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_019e1df9-295c-7abe-86af-2d7864074ee6_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Domain]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_OPOptionsMember_019e1df9-29ec-793a-a7be-c8f509320852_terseLabel_en-US" xlink:label="lab_psa_OPOptionsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">OP Options</link:label>
    <link:label id="lab_psa_OPOptionsMember_label_en-US" xlink:label="lab_psa_OPOptionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">OP Options [Member]</link:label>
    <link:label id="lab_psa_OPOptionsMember_documentation_en-US" xlink:label="lab_psa_OPOptionsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">OP Options</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_OPOptionsMember" xlink:href="psa-20260630.xsd#psa_OPOptionsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_OPOptionsMember" xlink:to="lab_psa_OPOptionsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommercialPaper_019f80ab-45c2-738a-bb5c-4980c85e9020_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialPaper" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial paper</link:label>
    <link:label id="lab_us-gaap_CommercialPaper_label_en-US" xlink:label="lab_us-gaap_CommercialPaper" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Paper</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommercialPaper" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommercialPaper"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommercialPaper" xlink:to="lab_us-gaap_CommercialPaper" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_019e1df9-295c-76cb-833f-9f85300943c7_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfFinancialPositionAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract" xlink:to="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentInformationLineItems_019e1df9-29ec-7674-812e-65fb2ab1cc32_verboseLabel_en-US" xlink:label="lab_dei_DocumentInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:label id="lab_dei_DocumentInformationLineItems_label_en-US" xlink:label="lab_dei_DocumentInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentInformationLineItems" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentInformationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentInformationLineItems" xlink:to="lab_dei_DocumentInformationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesUCumulativePreferredStockMember_019f809a-ce76-7240-98de-0010b038b5c7_terseLabel_en-US" xlink:label="lab_psa_SeriesUCumulativePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series U Cumulative Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesUCumulativePreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesUCumulativePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series U Cumulative Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesUCumulativePreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesUCumulativePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series U Cumulative Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesUCumulativePreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesUCumulativePreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesUCumulativePreferredStockMember" xlink:to="lab_psa_SeriesUCumulativePreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMnpiDiscTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Disclosure</link:label>
    <link:label id="lab_ecd_AwardTmgMnpiDiscTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMnpiDiscTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgMnpiDiscTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMnpiDiscTextBlock" xlink:to="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_019e1df9-295c-71cc-b85d-9a36f2a9a637_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis of Presentation</link:label>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_019e1df9-295d-7062-8405-cc4efda11b17_terseLabel_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_label_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementClassOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementClassOfStockAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementClassOfStockAxis" xlink:to="lab_us-gaap_StatementClassOfStockAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_FinancingReceivableAverageAnnualInterestRate_019e1df9-2898-758a-bf3b-a9dc50fe76b3_terseLabel_en-US" xlink:label="lab_psa_FinancingReceivableAverageAnnualInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing receivable, average annual interest rate (in percent)</link:label>
    <link:label id="lab_psa_FinancingReceivableAverageAnnualInterestRate_label_en-US" xlink:label="lab_psa_FinancingReceivableAverageAnnualInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Average Annual Interest Rate</link:label>
    <link:label id="lab_psa_FinancingReceivableAverageAnnualInterestRate_documentation_en-US" xlink:label="lab_psa_FinancingReceivableAverageAnnualInterestRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Average Annual Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_FinancingReceivableAverageAnnualInterestRate" xlink:href="psa-20260630.xsd#psa_FinancingReceivableAverageAnnualInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_FinancingReceivableAverageAnnualInterestRate" xlink:to="lab_psa_FinancingReceivableAverageAnnualInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DebtInstrumentExtensionFeeMaximumPercentageOfCommitment_019e1df9-29ec-71aa-8926-6a35b6ed28e2_terseLabel_en-US" xlink:label="lab_psa_DebtInstrumentExtensionFeeMaximumPercentageOfCommitment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, extension fee maximum, Commitment (in percent)</link:label>
    <link:label id="lab_psa_DebtInstrumentExtensionFeeMaximumPercentageOfCommitment_label_en-US" xlink:label="lab_psa_DebtInstrumentExtensionFeeMaximumPercentageOfCommitment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Extension Fee Maximum, Percentage Of Commitment</link:label>
    <link:label id="lab_psa_DebtInstrumentExtensionFeeMaximumPercentageOfCommitment_documentation_en-US" xlink:label="lab_psa_DebtInstrumentExtensionFeeMaximumPercentageOfCommitment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Extension Fee Maximum, Percentage Of Commitment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_DebtInstrumentExtensionFeeMaximumPercentageOfCommitment" xlink:href="psa-20260630.xsd#psa_DebtInstrumentExtensionFeeMaximumPercentageOfCommitment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_DebtInstrumentExtensionFeeMaximumPercentageOfCommitment" xlink:to="lab_psa_DebtInstrumentExtensionFeeMaximumPercentageOfCommitment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_019e1df9-29ec-71c2-9b40-827add16641a_totalLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, after Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeerGroupTotalShareholderRtnAmt_terseLabel_en-US" xlink:label="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peer Group Total Shareholder Return Amount</link:label>
    <link:label id="lab_ecd_PeerGroupTotalShareholderRtnAmt_label_en-US" xlink:label="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peer Group Total Shareholder Return Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeerGroupTotalShareholderRtnAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeerGroupTotalShareholderRtnAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeerGroupTotalShareholderRtnAmt" xlink:to="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_019e1df9-295c-7689-9154-1b0a6c9968fa_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income allocable to common shareholders</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_019e1df9-295c-78bb-92b4-bcee7cd37033_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Numerator for basic and dilutive net income per common share &#8211; net income allocable to common shareholders</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ReceivableTypeDomain_019e1df9-29ec-7b04-bdb3-a15a1c903011_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivableTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivable [Domain]</link:label>
    <link:label id="lab_us-gaap_ReceivableTypeDomain_label_en-US" xlink:label="lab_us-gaap_ReceivableTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivable [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivableTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ReceivableTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivableTypeDomain" xlink:to="lab_us-gaap_ReceivableTypeDomain" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NonoperatingIncomeExpenseAbstract_019e1df9-29ec-7f9d-a1c0-2e6f48425670_terseLabel_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other increases (decreases) to net income:</link:label>
    <link:label id="lab_us-gaap_NonoperatingIncomeExpenseAbstract_label_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nonoperating Income (Expense) [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpenseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NonoperatingIncomeExpenseAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="lab_us-gaap_NonoperatingIncomeExpenseAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock_terseLabel_en-US" xlink:label="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Vs Peer Group</link:label>
    <link:label id="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock_label_en-US" xlink:label="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Vs Peer Group [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TotalShareholderRtnVsPeerGroupTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:to="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_GuaranteeNotesDue2032Member_019e1df9-295c-72fa-89c3-3d72ee2490c8_terseLabel_en-US" xlink:label="lab_psa_GuaranteeNotesDue2032Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes Due 2032</link:label>
    <link:label id="lab_psa_GuaranteeNotesDue2032Member_label_en-US" xlink:label="lab_psa_GuaranteeNotesDue2032Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guarantee Notes Due 2032 [Member]</link:label>
    <link:label id="lab_psa_GuaranteeNotesDue2032Member_documentation_en-US" xlink:label="lab_psa_GuaranteeNotesDue2032Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Guarantee Notes Due 2032 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_GuaranteeNotesDue2032Member" xlink:href="psa-20260630.xsd#psa_GuaranteeNotesDue2032Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_GuaranteeNotesDue2032Member" xlink:to="lab_psa_GuaranteeNotesDue2032Member" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_ProceedsFromOPOptionsIssued_019e1df9-2898-7f3c-b98b-569c70c92e73_terseLabel_en-US" xlink:label="lab_psa_ProceedsFromOPOptionsIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from OP Options issued</link:label>
    <link:label id="lab_psa_ProceedsFromOPOptionsIssued_label_en-US" xlink:label="lab_psa_ProceedsFromOPOptionsIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From OP Options Issued</link:label>
    <link:label id="lab_psa_ProceedsFromOPOptionsIssued_documentation_en-US" xlink:label="lab_psa_ProceedsFromOPOptionsIssued" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds From OP Options Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_ProceedsFromOPOptionsIssued" xlink:href="psa-20260630.xsd#psa_ProceedsFromOPOptionsIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_ProceedsFromOPOptionsIssued" xlink:to="lab_psa_ProceedsFromOPOptionsIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_019e1df9-2898-7e20-aa08-edeb096ecc1c_verboseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Credit facility borrowing capacity</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_019e1df9-2898-744c-904d-25fe4e290dbb_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss)</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Net of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonRule10b51ArrTrmntdFlag_terseLabel_en-US" xlink:label="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Terminated</link:label>
    <link:label id="lab_ecd_NonRule10b51ArrTrmntdFlag_label_en-US" xlink:label="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Terminated [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonRule10b51ArrTrmntdFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonRule10b51ArrTrmntdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonRule10b51ArrTrmntdFlag" xlink:to="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RetainedEarningsNCIPortionMember_019e1df9-2898-7f4e-9af5-12ab4bae0550_terseLabel_en-US" xlink:label="lab_psa_RetainedEarningsNCIPortionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Deficit, NCI Portion</link:label>
    <link:label id="lab_psa_RetainedEarningsNCIPortionMember_label_en-US" xlink:label="lab_psa_RetainedEarningsNCIPortionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings, NCI Portion [Member]</link:label>
    <link:label id="lab_psa_RetainedEarningsNCIPortionMember_documentation_en-US" xlink:label="lab_psa_RetainedEarningsNCIPortionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Retained Earnings, NCI Portion</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RetainedEarningsNCIPortionMember" xlink:href="psa-20260630.xsd#psa_RetainedEarningsNCIPortionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RetainedEarningsNCIPortionMember" xlink:to="lab_psa_RetainedEarningsNCIPortionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NotesPayableAbstract_019e1df9-29ec-76bb-9b3f-8cdae3c149ff_terseLabel_en-US" xlink:label="lab_us-gaap_NotesPayableAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes Payable [Abstract]</link:label>
    <link:label id="lab_us-gaap_NotesPayableAbstract_label_en-US" xlink:label="lab_us-gaap_NotesPayableAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Payable [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NotesPayableAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NotesPayableAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesPayableAbstract" xlink:to="lab_us-gaap_NotesPayableAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ForwardContractIndexedToIssuersEquityShares_019f5f70-0afa-7d49-8833-d44bc473838b_terseLabel_en-US" xlink:label="lab_us-gaap_ForwardContractIndexedToIssuersEquityShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward contract indexed to issuer's equity, shares (in shares)</link:label>
    <link:label id="lab_us-gaap_ForwardContractIndexedToIssuersEquityShares_label_en-US" xlink:label="lab_us-gaap_ForwardContractIndexedToIssuersEquityShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forward Contract Indexed to Issuer's Equity, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForwardContractIndexedToIssuersEquityShares" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ForwardContractIndexedToIssuersEquityShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForwardContractIndexedToIssuersEquityShares" xlink:to="lab_us-gaap_ForwardContractIndexedToIssuersEquityShares" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LicenseMember_019e1df9-295c-70ef-8713-431cc1b7e2f9_terseLabel_en-US" xlink:label="lab_us-gaap_LicenseMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trademark License</link:label>
    <link:label id="lab_us-gaap_LicenseMember_label_en-US" xlink:label="lab_us-gaap_LicenseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">License [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LicenseMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LicenseMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LicenseMember" xlink:to="lab_us-gaap_LicenseMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration_019e1df9-2898-7aef-a864-72d1a9863ea1_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, variable interest rate, type [extensible enumeration]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:to="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPreferredStock_019e1df9-29ec-78ee-be0a-c9a016477eca_negatedLabel_en-US" xlink:label="lab_us-gaap_DividendsPreferredStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Preferred shareholders</link:label>
    <link:label id="lab_us-gaap_DividendsPreferredStock_label_en-US" xlink:label="lab_us-gaap_DividendsPreferredStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPreferredStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsPreferredStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPreferredStock" xlink:to="lab_us-gaap_DividendsPreferredStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_019e1df9-295c-7f71-8f95-ea1d56363d0d_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeAxis" xlink:to="lab_us-gaap_SubsequentEventTypeAxis" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax"/>
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    <link:label id="lab_us-gaap_DebtInstrumentTable_019e1df9-29ec-756f-bed6-313e4e307f27_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentTable_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt Instruments [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTable" xlink:to="lab_us-gaap_DebtInstrumentTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_019e1df9-29ec-7745-8128-cd43e064982b_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Significant Accounting Policies and Recent Accounting Pronouncements Not Yet Adopted</link:label>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock"/>
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    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_019e1df9-295d-7bd9-b564-2aa4a022762b_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Segment Information</link:label>
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:to="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_019e1df9-29ec-7fa0-93b8-ee5931e473d1_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interests</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NoncontrollingInterestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestMember" xlink:to="lab_us-gaap_NoncontrollingInterestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_019e1df9-29ec-7c51-9376-0c47564d7cd4_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of debt issuance costs</link:label>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_label_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Debt Issuance Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfFinancingCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AmortizationOfFinancingCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfFinancingCosts" xlink:to="lab_us-gaap_AmortizationOfFinancingCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UnsecuredDebtMember_019e1df9-295d-768f-b47a-fc7b05ae1491_terseLabel_en-US" xlink:label="lab_us-gaap_UnsecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unsecured Debt</link:label>
    <link:label id="lab_us-gaap_UnsecuredDebtMember_label_en-US" xlink:label="lab_us-gaap_UnsecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unsecured Debt [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnsecuredDebtMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnsecuredDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnsecuredDebtMember" xlink:to="lab_us-gaap_UnsecuredDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019e1df9-29ec-7388-b866-f691294234d1_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related and Nonrelated Parties [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestDisclosureTextBlock_019e1df9-295d-7826-8817-e562ec68e31d_verboseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterestDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDisclosureTextBlock" xlink:to="lab_us-gaap_MinorityInterestDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_CapitalExpendituresForEnergyEfficiencies_019e1df9-295d-75fb-9e47-8dab271c56c0_negatedTerseLabel_en-US" xlink:label="lab_psa_CapitalExpendituresForEnergyEfficiencies" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures for energy efficiencies (Solar, heat pumps, LED lighting)</link:label>
    <link:label id="lab_psa_CapitalExpendituresForEnergyEfficiencies_label_en-US" xlink:label="lab_psa_CapitalExpendituresForEnergyEfficiencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Expenditures For Energy Efficiencies</link:label>
    <link:label id="lab_psa_CapitalExpendituresForEnergyEfficiencies_documentation_en-US" xlink:label="lab_psa_CapitalExpendituresForEnergyEfficiencies" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Expenditures For Energy Efficiencies</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_CapitalExpendituresForEnergyEfficiencies" xlink:href="psa-20260630.xsd#psa_CapitalExpendituresForEnergyEfficiencies"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_CapitalExpendituresForEnergyEfficiencies" xlink:to="lab_psa_CapitalExpendituresForEnergyEfficiencies" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RetainedEarningsIncludingNoncontrollingInterestMember_019e1df9-295d-7e52-a57e-14664828ea58_terseLabel_en-US" xlink:label="lab_psa_RetainedEarningsIncludingNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Deficit Including Noncontrolling Interest</link:label>
    <link:label id="lab_psa_RetainedEarningsIncludingNoncontrollingInterestMember_label_en-US" xlink:label="lab_psa_RetainedEarningsIncludingNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings Including Noncontrolling Interest [Member]</link:label>
    <link:label id="lab_psa_RetainedEarningsIncludingNoncontrollingInterestMember_documentation_en-US" xlink:label="lab_psa_RetainedEarningsIncludingNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Retained Earnings Including Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RetainedEarningsIncludingNoncontrollingInterestMember" xlink:href="psa-20260630.xsd#psa_RetainedEarningsIncludingNoncontrollingInterestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RetainedEarningsIncludingNoncontrollingInterestMember" xlink:to="lab_psa_RetainedEarningsIncludingNoncontrollingInterestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebt_019e1df9-29ec-7692-82b8-b3f2a0ce95c2_totalLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Book Value</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_label_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt" xlink:to="lab_us-gaap_LongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesTPreferredStockMember_019f83f3-e1c1-703f-b2a8-ce4b273f3670_terseLabel_en-US" xlink:label="lab_psa_SeriesTPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series T Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesTPreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesTPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series T Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesTPreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesTPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series T Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesTPreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesTPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesTPreferredStockMember" xlink:to="lab_psa_SeriesTPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_019e1df9-29ec-7eb3-bf32-6ddf8f75f2fc_terseLabel_en-US" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental schedule of non-cash investing and financing activities:</link:label>
    <link:label id="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentPeriodEndDate_019e1df9-29ec-760b-903a-88807da87fc1_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentPeriodEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate" xlink:to="lab_dei_DocumentPeriodEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_019e1df9-2898-7a16-86dd-9ac17e44fedd_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in operating assets and liabilities, excluding the impact of acquisitions:</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_019e1df9-295c-78f2-967c-533d546b98a0_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash flows from (used in) investing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Investing Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Excluding Value Reported in Compensation Table</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Excluding Value Reported in the Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:to="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_019e1df9-295c-7ec4-909e-c6b6fd550f32_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesOutstanding" xlink:to="lab_us-gaap_PreferredStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_019e1df9-2898-75a5-9883-97fa6d0e0483_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt issuance amount</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Face Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentFaceAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFaceAmount" xlink:to="lab_us-gaap_DebtInstrumentFaceAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_019e1df9-295c-7982-a014-60fc087b6da5_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Various lease commitments 2027</link:label>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Liability, to be Paid, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_019e1df9-2898-7a06-a530-002ff309aa32_verboseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Shareholders' Equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_ParentIncludingNoncontrollingInterestMember_019e1df9-295d-7494-ac70-c2039bdd5207_terseLabel_en-US" xlink:label="lab_psa_ParentIncludingNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Parent Including Noncontrolling Interest</link:label>
    <link:label id="lab_psa_ParentIncludingNoncontrollingInterestMember_label_en-US" xlink:label="lab_psa_ParentIncludingNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Parent Including Noncontrolling Interest [Member]</link:label>
    <link:label id="lab_psa_ParentIncludingNoncontrollingInterestMember_documentation_en-US" xlink:label="lab_psa_ParentIncludingNoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Parent Including Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_ParentIncludingNoncontrollingInterestMember" xlink:href="psa-20260630.xsd#psa_ParentIncludingNoncontrollingInterestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_ParentIncludingNoncontrollingInterestMember" xlink:to="lab_psa_ParentIncludingNoncontrollingInterestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_MezzanineLoanMember_019e1df9-2898-7ec5-b272-c8afde8dbd83_terseLabel_en-US" xlink:label="lab_psa_MezzanineLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mezzanine Loan</link:label>
    <link:label id="lab_psa_MezzanineLoanMember_label_en-US" xlink:label="lab_psa_MezzanineLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mezzanine Loan [Member]</link:label>
    <link:label id="lab_psa_MezzanineLoanMember_documentation_en-US" xlink:label="lab_psa_MezzanineLoanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mezzanine Loan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_MezzanineLoanMember" xlink:href="psa-20260630.xsd#psa_MezzanineLoanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_MezzanineLoanMember" xlink:to="lab_psa_MezzanineLoanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CostsAndExpensesAbstract_019e1df9-2898-7816-a80f-56ef2e58003a_terseLabel_en-US" xlink:label="lab_us-gaap_CostsAndExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses:</link:label>
    <link:label id="lab_us-gaap_CostsAndExpensesAbstract_label_en-US" xlink:label="lab_us-gaap_CostsAndExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Costs and Expenses [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpensesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CostsAndExpensesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CostsAndExpensesAbstract" xlink:to="lab_us-gaap_CostsAndExpensesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_SecurityExchangeName_019e1df9-295c-7ca7-963b-579db2bfd999_terseLabel_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:label id="lab_dei_SecurityExchangeName_label_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_SecurityExchangeName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SecurityExchangeName" xlink:to="lab_dei_SecurityExchangeName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentTerm_019e869a-5263-720a-907f-f8c203ccc313_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, term</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentTerm_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTerm" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTerm" xlink:to="lab_us-gaap_DebtInstrumentTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_019e1df9-29ec-7e78-b772-ecc2eb041629_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Construction or expansion of real estate facilities</link:label>
    <link:label id="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_label_en-US" xlink:label="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Construction in Progress Expenditures Incurred but Not yet Paid</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid" xlink:to="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_019e1df9-29ec-7a19-a203-4a798e9ba9cd_netLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Effective Rate</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Effective Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:to="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredCompensationArrangementWithIndividualExercisePrice_019e1df9-295d-71a6-84c2-8ccb8ce2d204_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCompensationArrangementWithIndividualExercisePrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercise price (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_DeferredCompensationArrangementWithIndividualExercisePrice_label_en-US" xlink:label="lab_us-gaap_DeferredCompensationArrangementWithIndividualExercisePrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Compensation Arrangement with Individual, Exercise Price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredCompensationArrangementWithIndividualExercisePrice" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DeferredCompensationArrangementWithIndividualExercisePrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCompensationArrangementWithIndividualExercisePrice" xlink:to="lab_us-gaap_DeferredCompensationArrangementWithIndividualExercisePrice" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromMinorityShareholders_019e1df9-2898-71e0-83b0-75278bbe4475_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contributions by noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_ProceedsFromMinorityShareholders_label_en-US" xlink:label="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Noncontrolling Interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromMinorityShareholders" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromMinorityShareholders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromMinorityShareholders" xlink:to="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresToMaintainRealEstateFacilities_019e1df9-29ec-7334-a95c-fce81311ad7b_terseLabel_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresToMaintainRealEstateFacilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures to maintain real estate facilities</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresToMaintainRealEstateFacilities_label_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresToMaintainRealEstateFacilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property At Cost, Capital Expenditures To Maintain Real Estate Facilities</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresToMaintainRealEstateFacilities_documentation_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresToMaintainRealEstateFacilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property At Cost, Capital Expenditures To Maintain Real Estate Facilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresToMaintainRealEstateFacilities" xlink:href="psa-20260630.xsd#psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresToMaintainRealEstateFacilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresToMaintainRealEstateFacilities" xlink:to="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresToMaintainRealEstateFacilities" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NetRentableAreaAcquired_019e1df9-295d-7eb7-ad85-453f5b5baac2_terseLabel_en-US" xlink:label="lab_psa_NetRentableAreaAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net rentable area acquired (in Sq.ft)</link:label>
    <link:label id="lab_psa_NetRentableAreaAcquired_label_en-US" xlink:label="lab_psa_NetRentableAreaAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Rentable Area Acquired</link:label>
    <link:label id="lab_psa_NetRentableAreaAcquired_documentation_en-US" xlink:label="lab_psa_NetRentableAreaAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net Rentable Area Acquired</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NetRentableAreaAcquired" xlink:href="psa-20260630.xsd#psa_NetRentableAreaAcquired"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NetRentableAreaAcquired" xlink:to="lab_psa_NetRentableAreaAcquired" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_019e1df9-295c-7104-85c3-dd9457546d8b_verboseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive loss</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityShellCompany_019e1df9-29ec-7e90-b21f-5019ebb173bb_terseLabel_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:label id="lab_dei_EntityShellCompany_label_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityShellCompany" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityShellCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityShellCompany" xlink:to="lab_dei_EntityShellCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ConsolidationItemsDomain_019e1df9-295d-7099-a441-90be4c4d2598_terseLabel_en-US" xlink:label="lab_srt_ConsolidationItemsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation Items [Domain]</link:label>
    <link:label id="lab_srt_ConsolidationItemsDomain_label_en-US" xlink:label="lab_srt_ConsolidationItemsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation Items [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidationItemsDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ConsolidationItemsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidationItemsDomain" xlink:to="lab_srt_ConsolidationItemsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_TamaraHughesGustavsonMember_019e1df9-295c-7360-9da2-3f0841b83883_terseLabel_en-US" xlink:label="lab_psa_TamaraHughesGustavsonMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tamara Hughes Gustavson</link:label>
    <link:label id="lab_psa_TamaraHughesGustavsonMember_label_en-US" xlink:label="lab_psa_TamaraHughesGustavsonMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tamara Hughes Gustavson [Member]</link:label>
    <link:label id="lab_psa_TamaraHughesGustavsonMember_documentation_en-US" xlink:label="lab_psa_TamaraHughesGustavsonMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tamara Hughes Gustavson</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_TamaraHughesGustavsonMember" xlink:href="psa-20260630.xsd#psa_TamaraHughesGustavsonMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_TamaraHughesGustavsonMember" xlink:to="lab_psa_TamaraHughesGustavsonMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfInterestRateDerivativesHeld_019e1df9-29ec-7a2c-8f48-29cfe3c2a82a_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfInterestRateDerivativesHeld" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of interest rate derivatives held</link:label>
    <link:label id="lab_us-gaap_NumberOfInterestRateDerivativesHeld_label_en-US" xlink:label="lab_us-gaap_NumberOfInterestRateDerivativesHeld" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Interest Rate Derivatives Held</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfInterestRateDerivativesHeld" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfInterestRateDerivativesHeld"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfInterestRateDerivativesHeld" xlink:to="lab_us-gaap_NumberOfInterestRateDerivativesHeld" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesPPreferredStockMember_019e1df9-295d-7f94-b3a7-a41413fdcad7_terseLabel_en-US" xlink:label="lab_psa_SeriesPPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series P Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesPPreferredStockMember_019e1df9-295d-780e-a3fc-1b575929194c_verboseLabel_en-US" xlink:label="lab_psa_SeriesPPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series P</link:label>
    <link:label id="lab_psa_SeriesPPreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesPPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series P Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesPPreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesPPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Outstanding nonredeemable series P preferred stock or outstanding series P preferred stock. Classified within stockholders' equity if nonredeemable or redeemable solely at the option of the issuer. Classified within temporary equity if redemption is outside the control of the issuer.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesPPreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesPPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesPPreferredStockMember" xlink:to="lab_psa_SeriesPPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_MaximumAggregateSalesPriceOfTheAtTheMarketOfferingProgram_019e1df9-2898-7096-8de4-4e06a39022eb_terseLabel_en-US" xlink:label="lab_psa_MaximumAggregateSalesPriceOfTheAtTheMarketOfferingProgram" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum aggregate sales price of the "at the market" offering program</link:label>
    <link:label id="lab_psa_MaximumAggregateSalesPriceOfTheAtTheMarketOfferingProgram_label_en-US" xlink:label="lab_psa_MaximumAggregateSalesPriceOfTheAtTheMarketOfferingProgram" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Aggregate Sales Price Of The "At The Market" Offering Program</link:label>
    <link:label id="lab_psa_MaximumAggregateSalesPriceOfTheAtTheMarketOfferingProgram_documentation_en-US" xlink:label="lab_psa_MaximumAggregateSalesPriceOfTheAtTheMarketOfferingProgram" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maximum Aggregate Sales Price Of The "At The Market" Offering Program</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_MaximumAggregateSalesPriceOfTheAtTheMarketOfferingProgram" xlink:href="psa-20260630.xsd#psa_MaximumAggregateSalesPriceOfTheAtTheMarketOfferingProgram"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_MaximumAggregateSalesPriceOfTheAtTheMarketOfferingProgram" xlink:to="lab_psa_MaximumAggregateSalesPriceOfTheAtTheMarketOfferingProgram" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MortgagesMember_019e1df9-295d-7f6c-97f8-35040d70181e_terseLabel_en-US" xlink:label="lab_us-gaap_MortgagesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage Debt</link:label>
    <link:label id="lab_us-gaap_MortgagesMember_label_en-US" xlink:label="lab_us-gaap_MortgagesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgages [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgagesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MortgagesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgagesMember" xlink:to="lab_us-gaap_MortgagesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_019e1df9-2898-72c4-bbd2-7efbc7f912ab_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Comprehensive Income [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Comprehensive Income [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:to="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_019e1df9-29ec-7806-a0d1-50f314243d7a_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Income per Common Share</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareTextBlock" xlink:to="lab_us-gaap_EarningsPerShareTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingRecoveryIndName_terseLabel_en-US" xlink:label="lab_ecd_OutstandingRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_OutstandingRecoveryIndName_label_en-US" xlink:label="lab_ecd_OutstandingRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Recovery, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingRecoveryIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OutstandingRecoveryIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingRecoveryIndName" xlink:to="lab_ecd_OutstandingRecoveryIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_019e1df9-295d-766f-a8e7-1bfdba951a7b_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income per common share:</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_019e1df9-295d-7da3-b5ec-09d2d08708cd_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareAbstract" xlink:to="lab_us-gaap_EarningsPerShareAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing, How MNPI Considered</link:label>
    <link:label id="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing, How MNPI Considered [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgHowMnpiCnsdrdTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:to="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_019e1df9-295d-7267-9ae5-814b7f506dfb_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalPeriodFocus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentFiscalPeriodFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus" xlink:to="lab_dei_DocumentFiscalPeriodFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeerGroupIssuersFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peer Group Issuers, Footnote</link:label>
    <link:label id="lab_ecd_PeerGroupIssuersFnTextBlock_label_en-US" xlink:label="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peer Group Issuers, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeerGroupIssuersFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeerGroupIssuersFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeerGroupIssuersFnTextBlock" xlink:to="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_ForwardContractIndexedToEquitySettlementForFutureIssuanceAmount_019f8401-6b3b-7b0d-a088-76f4aa335a0f_terseLabel_en-US" xlink:label="lab_psa_ForwardContractIndexedToEquitySettlementForFutureIssuanceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward contract indexed to equity, settlement, for future issuance amount</link:label>
    <link:label id="lab_psa_ForwardContractIndexedToEquitySettlementForFutureIssuanceAmount_label_en-US" xlink:label="lab_psa_ForwardContractIndexedToEquitySettlementForFutureIssuanceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forward Contract Indexed to Equity, Settlement, For Future Issuance, Amount</link:label>
    <link:label id="lab_psa_ForwardContractIndexedToEquitySettlementForFutureIssuanceAmount_documentation_en-US" xlink:label="lab_psa_ForwardContractIndexedToEquitySettlementForFutureIssuanceAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Forward Contract Indexed to Equity, Settlement, For Future Issuance, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_ForwardContractIndexedToEquitySettlementForFutureIssuanceAmount" xlink:href="psa-20260630.xsd#psa_ForwardContractIndexedToEquitySettlementForFutureIssuanceAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_ForwardContractIndexedToEquitySettlementForFutureIssuanceAmount" xlink:to="lab_psa_ForwardContractIndexedToEquitySettlementForFutureIssuanceAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_EuroDenominatedUnsecuredDebtMember_019e1df9-295c-75ab-b3a8-6227512b1cb9_terseLabel_en-US" xlink:label="lab_psa_EuroDenominatedUnsecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Euro Denominated Unsecured Debt</link:label>
    <link:label id="lab_psa_EuroDenominatedUnsecuredDebtMember_label_en-US" xlink:label="lab_psa_EuroDenominatedUnsecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro Denominated Unsecured Debt [Member]</link:label>
    <link:label id="lab_psa_EuroDenominatedUnsecuredDebtMember_documentation_en-US" xlink:label="lab_psa_EuroDenominatedUnsecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Euro Denominated Unsecured Debt [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_EuroDenominatedUnsecuredDebtMember" xlink:href="psa-20260630.xsd#psa_EuroDenominatedUnsecuredDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_EuroDenominatedUnsecuredDebtMember" xlink:to="lab_psa_EuroDenominatedUnsecuredDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ExtinguishmentOfDebtLineItems_019e1df9-29ec-700b-97e5-6248758e15bc_terseLabel_en-US" xlink:label="lab_us-gaap_ExtinguishmentOfDebtLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extinguishment of Debt [Line Items]</link:label>
    <link:label id="lab_us-gaap_ExtinguishmentOfDebtLineItems_label_en-US" xlink:label="lab_us-gaap_ExtinguishmentOfDebtLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extinguishment of Debt [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ExtinguishmentOfDebtLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ExtinguishmentOfDebtLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ExtinguishmentOfDebtLineItems" xlink:to="lab_us-gaap_ExtinguishmentOfDebtLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_CapitalExpendituresForPropertyEnhancementsRemainingUnpaidAtPeriodEnd_019e1df9-2898-70c8-afcc-5f9a7e0a4822_negatedTerseLabel_en-US" xlink:label="lab_psa_CapitalExpendituresForPropertyEnhancementsRemainingUnpaidAtPeriodEnd" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures for property enhancements</link:label>
    <link:label id="lab_psa_CapitalExpendituresForPropertyEnhancementsRemainingUnpaidAtPeriodEnd_label_en-US" xlink:label="lab_psa_CapitalExpendituresForPropertyEnhancementsRemainingUnpaidAtPeriodEnd" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Expenditures For Property Enhancements Remaining Unpaid At Period End</link:label>
    <link:label id="lab_psa_CapitalExpendituresForPropertyEnhancementsRemainingUnpaidAtPeriodEnd_documentation_en-US" xlink:label="lab_psa_CapitalExpendituresForPropertyEnhancementsRemainingUnpaidAtPeriodEnd" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"></link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_CapitalExpendituresForPropertyEnhancementsRemainingUnpaidAtPeriodEnd" xlink:href="psa-20260630.xsd#psa_CapitalExpendituresForPropertyEnhancementsRemainingUnpaidAtPeriodEnd"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_CapitalExpendituresForPropertyEnhancementsRemainingUnpaidAtPeriodEnd" xlink:to="lab_psa_CapitalExpendituresForPropertyEnhancementsRemainingUnpaidAtPeriodEnd" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Liabilities_019e1df9-29ec-7b35-8970-ee84e6bc433c_totalLabel_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_us-gaap_Liabilities_label_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Liabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities" xlink:to="lab_us-gaap_Liabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_TradingSymbol_019e1df9-295c-7209-9c71-c82524bc61c2_terseLabel_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:label id="lab_dei_TradingSymbol_label_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_TradingSymbol"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_TradingSymbol" xlink:to="lab_dei_TradingSymbol" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_SegmentGeographicalDomain_019e1df9-2898-7e57-8deb-2e5099d523b4_terseLabel_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment, Geographical [Domain]</link:label>
    <link:label id="lab_srt_SegmentGeographicalDomain_label_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_SegmentGeographicalDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_SegmentGeographicalDomain" xlink:to="lab_srt_SegmentGeographicalDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_019e1df9-295c-7c13-ac1a-b268abfff701_terseLabel_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indefinite-lived intangible assets</link:label>
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill_label_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Excluding Goodwill, Indefinite-Lived</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:to="lab_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year</link:label>
    <link:label id="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember_label_en-US" xlink:label="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:to="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnAdjsPrrSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Adjustments Prior Service Cost</link:label>
    <link:label id="lab_ecd_PnsnAdjsPrrSvcCstMember_label_en-US" xlink:label="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Adjustments Prior Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnAdjsPrrSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PnsnAdjsPrrSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnAdjsPrrSvcCstMember" xlink:to="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_PublicStorageParentMember_019e1df9-29ec-77db-adb2-78e4ab4e5801_terseLabel_en-US" xlink:label="lab_psa_PublicStorageParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Public Storage Parent</link:label>
    <link:label id="lab_psa_PublicStorageParentMember_label_en-US" xlink:label="lab_psa_PublicStorageParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Storage Parent [Member]</link:label>
    <link:label id="lab_psa_PublicStorageParentMember_documentation_en-US" xlink:label="lab_psa_PublicStorageParentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Storage Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_PublicStorageParentMember" xlink:href="psa-20260630.xsd#psa_PublicStorageParentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_PublicStorageParentMember" xlink:to="lab_psa_PublicStorageParentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CoSelectedMeasureName_terseLabel_en-US" xlink:label="lab_ecd_CoSelectedMeasureName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Selected Measure Name</link:label>
    <link:label id="lab_ecd_CoSelectedMeasureName_label_en-US" xlink:label="lab_ecd_CoSelectedMeasureName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Company Selected Measure Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CoSelectedMeasureName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CoSelectedMeasureName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CoSelectedMeasureName" xlink:to="lab_ecd_CoSelectedMeasureName" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_MarketingMember_019e1df9-29ec-706e-aa3e-3a0660ac2058_terseLabel_en-US" xlink:label="lab_psa_MarketingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Marketing</link:label>
    <link:label id="lab_psa_MarketingMember_label_en-US" xlink:label="lab_psa_MarketingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Marketing [Member]</link:label>
    <link:label id="lab_psa_MarketingMember_documentation_en-US" xlink:label="lab_psa_MarketingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Marketing</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_MarketingMember" xlink:href="psa-20260630.xsd#psa_MarketingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_MarketingMember" xlink:to="lab_psa_MarketingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleOfStockNameOfTransactionDomain_019f5f70-61a2-76df-85a4-ca7f7cc0f319_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of Stock [Domain]</link:label>
    <link:label id="lab_us-gaap_SaleOfStockNameOfTransactionDomain_label_en-US" xlink:label="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SaleOfStockNameOfTransactionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:to="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfDividendsMinorityInterest_019e1df9-29ec-774b-8903-19acdb723d9f_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsMinorityInterest" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions paid to noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsMinorityInterest_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsMinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Ordinary Dividends, Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsMinorityInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsOfDividendsMinorityInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividendsMinorityInterest" xlink:to="lab_us-gaap_PaymentsOfDividendsMinorityInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesQPreferredStockMember_019e1df9-29ec-7a93-b87c-6a7a3d021a8a_terseLabel_en-US" xlink:label="lab_psa_SeriesQPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series Q Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesQPreferredStockMember_019e1df9-29ec-708c-abd5-9fd02cf80b35_verboseLabel_en-US" xlink:label="lab_psa_SeriesQPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series Q</link:label>
    <link:label id="lab_psa_SeriesQPreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesQPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series Q Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesQPreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesQPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series Q Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesQPreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesQPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesQPreferredStockMember" xlink:to="lab_psa_SeriesQPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTable_019e1df9-29ec-7f5a-af91-27257d1e870a_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Indefinite-Lived Intangible Assets [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Indefinite-Lived [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTable" xlink:to="lab_us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UnrealizedGainLossOnDerivatives_019e1df9-295d-7541-b908-353e5934fc9c_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivatives" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Unrealized losses on derivatives</link:label>
    <link:label id="lab_us-gaap_UnrealizedGainLossOnDerivatives_label_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivatives" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrealized Gain (Loss) on Derivatives</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrealizedGainLossOnDerivatives" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnrealizedGainLossOnDerivatives"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrealizedGainLossOnDerivatives" xlink:to="lab_us-gaap_UnrealizedGainLossOnDerivatives" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_AdjustmentsToAdditionalPaidInCapitalReallocationOfEquity_019e1df9-29ec-7b09-b2ff-ffba496f5f44_terseLabel_en-US" xlink:label="lab_psa_AdjustmentsToAdditionalPaidInCapitalReallocationOfEquity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reallocation of equity</link:label>
    <link:label id="lab_psa_AdjustmentsToAdditionalPaidInCapitalReallocationOfEquity_label_en-US" xlink:label="lab_psa_AdjustmentsToAdditionalPaidInCapitalReallocationOfEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments To Additional Paid In Capital, Reallocation Of Equity</link:label>
    <link:label id="lab_psa_AdjustmentsToAdditionalPaidInCapitalReallocationOfEquity_documentation_en-US" xlink:label="lab_psa_AdjustmentsToAdditionalPaidInCapitalReallocationOfEquity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments To Additional Paid In Capital, Reallocation Of Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_AdjustmentsToAdditionalPaidInCapitalReallocationOfEquity" xlink:href="psa-20260630.xsd#psa_AdjustmentsToAdditionalPaidInCapitalReallocationOfEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_AdjustmentsToAdditionalPaidInCapitalReallocationOfEquity" xlink:to="lab_psa_AdjustmentsToAdditionalPaidInCapitalReallocationOfEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityCapacityAvailableForSpecificPurposeOtherThanForTradePurchases_019e1df9-29ec-72e0-bad2-bd9956138ac1_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCapacityAvailableForSpecificPurposeOtherThanForTradePurchases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Undrawn standby letters of credit</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityCapacityAvailableForSpecificPurposeOtherThanForTradePurchases_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCapacityAvailableForSpecificPurposeOtherThanForTradePurchases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityCapacityAvailableForSpecificPurposeOtherThanForTradePurchases" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditFacilityCapacityAvailableForSpecificPurposeOtherThanForTradePurchases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityCapacityAvailableForSpecificPurposeOtherThanForTradePurchases" xlink:to="lab_us-gaap_LineOfCreditFacilityCapacityAvailableForSpecificPurposeOtherThanForTradePurchases" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_019e1df9-2898-750f-bcd6-4886104e5b3c_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Amount</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_019e1df9-2898-7545-8130-4b30c9d157d1_totalLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total debt</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentCarryingAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage_019e1df9-295d-779c-8597-115342b35f6f_verboseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Facility fee (in percent)</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Commitment Fee Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditFacilityCommitmentFeePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:to="lab_us-gaap_LineOfCreditFacilityCommitmentFeePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_019e1df9-29ec-77d1-8f89-353ca9a2c9ff_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued and other liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Accrued Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInOtherAccruedLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditFacilityDomain_019e1df9-295d-7a4a-b8bd-127f53545a4f_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:label id="lab_us-gaap_CreditFacilityDomain_label_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditFacilityDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CreditFacilityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityDomain" xlink:to="lab_us-gaap_CreditFacilityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockAmountOfPreferredDividendsInArrears_019e1df9-295d-7a90-b6cb-7065d4f6d018_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockAmountOfPreferredDividendsInArrears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount of preferred dividends in arrears</link:label>
    <link:label id="lab_us-gaap_PreferredStockAmountOfPreferredDividendsInArrears_label_en-US" xlink:label="lab_us-gaap_PreferredStockAmountOfPreferredDividendsInArrears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Amount of Preferred Dividends in Arrears</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockAmountOfPreferredDividendsInArrears" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockAmountOfPreferredDividendsInArrears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockAmountOfPreferredDividendsInArrears" xlink:to="lab_us-gaap_PreferredStockAmountOfPreferredDividendsInArrears" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_019e1df9-295c-7144-bef6-a7cb03dcc273_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract" xlink:to="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_019e1df9-295d-7e4a-8e1f-9ebcd3bd653f_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingRecoveryCompAmt_terseLabel_en-US" xlink:label="lab_ecd_OutstandingRecoveryCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Amount</link:label>
    <link:label id="lab_ecd_OutstandingRecoveryCompAmt_label_en-US" xlink:label="lab_ecd_OutstandingRecoveryCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Recovery Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingRecoveryCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OutstandingRecoveryCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingRecoveryCompAmt" xlink:to="lab_ecd_OutstandingRecoveryCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_IndividualAxis_terseLabel_en-US" xlink:label="lab_ecd_IndividualAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Individual:</link:label>
    <link:label id="lab_ecd_IndividualAxis_label_en-US" xlink:label="lab_ecd_IndividualAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Individual [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_IndividualAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_IndividualAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_IndividualAxis" xlink:to="lab_ecd_IndividualAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassLineItems_019e1df9-29ec-7c33-a5ce-acacf090c5bc_terseLabel_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indefinite-lived Intangible Assets [Line Items]</link:label>
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassLineItems_label_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Indefinite-Lived [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassLineItems" xlink:to="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_019e1df9-295c-797f-aaf1-dcc3fe09df73_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted weighted average common shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_019e1df9-295c-7e83-8012-0bd7a740e499_totalLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Denominator for dilutive net income per share - weighted average common shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_019e1df9-295c-7f56-953a-896982edbe8f_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_label_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityEmergingGrowthCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityEmergingGrowthCompany" xlink:to="lab_dei_EntityEmergingGrowthCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Valuation Assumption Difference, Footnote</link:label>
    <link:label id="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock_label_en-US" xlink:label="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Valuation Assumption Difference, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EquityValuationAssumptionDifferenceFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:to="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_019e1df9-295d-72d6-9345-028d2c643859_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems" xlink:to="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_A5.000SeniorNotesDue2035Member_019e1df9-295c-72f3-8c15-4ae07723b33b_terseLabel_en-US" xlink:label="lab_psa_A5.000SeniorNotesDue2035Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">5.000% Senior Notes Due 2035</link:label>
    <link:label id="lab_psa_A5.000SeniorNotesDue2035Member_label_en-US" xlink:label="lab_psa_A5.000SeniorNotesDue2035Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">5.000% Senior Notes Due 2035 [Member]</link:label>
    <link:label id="lab_psa_A5.000SeniorNotesDue2035Member_documentation_en-US" xlink:label="lab_psa_A5.000SeniorNotesDue2035Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">5.000% Senior Notes Due 2035</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_A5.000SeniorNotesDue2035Member" xlink:href="psa-20260630.xsd#psa_A5.000SeniorNotesDue2035Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_A5.000SeniorNotesDue2035Member" xlink:to="lab_psa_A5.000SeniorNotesDue2035Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_UndrlygSecurityMktPriceChngPct_terseLabel_en-US" xlink:label="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Underlying Security Market Price Change</link:label>
    <link:label id="lab_ecd_UndrlygSecurityMktPriceChngPct_label_en-US" xlink:label="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Underlying Security Market Price Change, Percent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_UndrlygSecurityMktPriceChngPct" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_UndrlygSecurityMktPriceChngPct"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_UndrlygSecurityMktPriceChngPct" xlink:to="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommercialPaperMember_019e8694-ecd1-7b2e-af97-0931fd44574c_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialPaperMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Paper</link:label>
    <link:label id="lab_us-gaap_CommercialPaperMember_label_en-US" xlink:label="lab_us-gaap_CommercialPaperMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Paper [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommercialPaperMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommercialPaperMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommercialPaperMember" xlink:to="lab_us-gaap_CommercialPaperMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NumberOfStatesWithSelfStorageFacilitiesToBeAcquired_019e1df9-29ec-778d-a62c-9bd36e4e6ba2_terseLabel_en-US" xlink:label="lab_psa_NumberOfStatesWithSelfStorageFacilitiesToBeAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of states with self-storage facilities to be acquired</link:label>
    <link:label id="lab_psa_NumberOfStatesWithSelfStorageFacilitiesToBeAcquired_label_en-US" xlink:label="lab_psa_NumberOfStatesWithSelfStorageFacilitiesToBeAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of States With Self-Storage Facilities To Be Acquired</link:label>
    <link:label id="lab_psa_NumberOfStatesWithSelfStorageFacilitiesToBeAcquired_documentation_en-US" xlink:label="lab_psa_NumberOfStatesWithSelfStorageFacilitiesToBeAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of States With Self-Storage Facilities To Be Acquired</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NumberOfStatesWithSelfStorageFacilitiesToBeAcquired" xlink:href="psa-20260630.xsd#psa_NumberOfStatesWithSelfStorageFacilitiesToBeAcquired"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NumberOfStatesWithSelfStorageFacilitiesToBeAcquired" xlink:to="lab_psa_NumberOfStatesWithSelfStorageFacilitiesToBeAcquired" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgPredtrmndFlag_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgPredtrmndFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing Predetermined</link:label>
    <link:label id="lab_ecd_AwardTmgPredtrmndFlag_label_en-US" xlink:label="lab_ecd_AwardTmgPredtrmndFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Predetermined [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgPredtrmndFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgPredtrmndFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgPredtrmndFlag" xlink:to="lab_ecd_AwardTmgPredtrmndFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Goodwill and Other [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:to="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToPeoCompFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AdjToPeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment To PEO Compensation, Footnote</link:label>
    <link:label id="lab_ecd_AdjToPeoCompFnTextBlock_label_en-US" xlink:label="lab_ecd_AdjToPeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment To PEO Compensation, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToPeoCompFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToPeoCompFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToPeoCompFnTextBlock" xlink:to="lab_ecd_AdjToPeoCompFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_019e1df9-29ec-7ef6-9497-16b7236d6624_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based compensation cost</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">APIC, Share-Based Payment Arrangement, Increase for Cost Recognition</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:to="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt_019e1df9-2898-7cbe-8886-69e4b2a33fde_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of notes payable, net of issuance costs</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Unsecured Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromIssuanceOfUnsecuredDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_019e1df9-2898-7aed-ae0d-2b0e0b1d7951_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_019e1df9-2898-73a6-88c6-f84d00305d0a_terseLabel_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indefinite-lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain_label_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Indefinite-Lived, Class [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="lab_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_019e1df9-295c-74a0-a291-d0f052c29fc6_totalLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Various lease commitments</link:label>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Liability, to be Paid</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidForIndividualEventLimit_019e1df9-29ec-7ab9-a460-369ec0d56bdd_terseLabel_en-US" xlink:label="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidForIndividualEventLimit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Third-party limit for insurance coverage claims paid for individual event</link:label>
    <link:label id="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidForIndividualEventLimit_label_en-US" xlink:label="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidForIndividualEventLimit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Third-Party Insurance Coverage For Claims Paid For Individual Event Limit</link:label>
    <link:label id="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidForIndividualEventLimit_documentation_en-US" xlink:label="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidForIndividualEventLimit" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The maximum amount of claims paid for individual events under our third-party insurance coverage.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_ThirdPartyInsuranceCoverageForClaimsPaidForIndividualEventLimit" xlink:href="psa-20260630.xsd#psa_ThirdPartyInsuranceCoverageForClaimsPaidForIndividualEventLimit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_ThirdPartyInsuranceCoverageForClaimsPaidForIndividualEventLimit" xlink:to="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidForIndividualEventLimit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AreaOfRealEstateProperty_019e1df9-295c-7fd4-920e-54cb074b0f0a_terseLabel_en-US" xlink:label="lab_us-gaap_AreaOfRealEstateProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Area of real estate property</link:label>
    <link:label id="lab_us-gaap_AreaOfRealEstateProperty_label_en-US" xlink:label="lab_us-gaap_AreaOfRealEstateProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Area of Real Estate Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AreaOfRealEstateProperty" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AreaOfRealEstateProperty"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AreaOfRealEstateProperty" xlink:to="lab_us-gaap_AreaOfRealEstateProperty" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_019f85b6-a2b5-7f55-9c78-f5d306228961_terseLabel_en-US" xlink:label="lab_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net effect of dilutive stock options and AO LTIP units - based on treasury stock method (in shares)</link:label>
    <link:label id="lab_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_label_en-US" xlink:label="lab_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incremental Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:to="lab_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_ContributionsByNoncontrollingInterest_019e1df9-2898-72a2-bded-1e205e70ff69_terseLabel_en-US" xlink:label="lab_psa_ContributionsByNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contributions by noncontrolling interests</link:label>
    <link:label id="lab_psa_ContributionsByNoncontrollingInterest_label_en-US" xlink:label="lab_psa_ContributionsByNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contributions by noncontrolling interest</link:label>
    <link:label id="lab_psa_ContributionsByNoncontrollingInterest_documentation_en-US" xlink:label="lab_psa_ContributionsByNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Contributions by noncontrolling interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_ContributionsByNoncontrollingInterest" xlink:href="psa-20260630.xsd#psa_ContributionsByNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_ContributionsByNoncontrollingInterest" xlink:to="lab_psa_ContributionsByNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllExecutiveCategoriesMember_terseLabel_en-US" xlink:label="lab_ecd_AllExecutiveCategoriesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Executive Categories</link:label>
    <link:label id="lab_ecd_AllExecutiveCategoriesMember_label_en-US" xlink:label="lab_ecd_AllExecutiveCategoriesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Executive Categories [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllExecutiveCategoriesMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllExecutiveCategoriesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllExecutiveCategoriesMember" xlink:to="lab_ecd_AllExecutiveCategoriesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfStatesInWhichEntityOperates_019e1df9-295d-77a5-b44a-34ef0959fd6a_verboseLabel_en-US" xlink:label="lab_us-gaap_NumberOfStatesInWhichEntityOperates" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of states with facilities</link:label>
    <link:label id="lab_us-gaap_NumberOfStatesInWhichEntityOperates_label_en-US" xlink:label="lab_us-gaap_NumberOfStatesInWhichEntityOperates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of States in which Entity Operates</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfStatesInWhichEntityOperates" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfStatesInWhichEntityOperates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfStatesInWhichEntityOperates" xlink:to="lab_us-gaap_NumberOfStatesInWhichEntityOperates" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_Mr.MitraMember_019e1df9-295d-7142-9535-42069067238e_terseLabel_en-US" xlink:label="lab_psa_Mr.MitraMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mr. Mitra</link:label>
    <link:label id="lab_psa_Mr.MitraMember_label_en-US" xlink:label="lab_psa_Mr.MitraMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mr. Mitra [Member]</link:label>
    <link:label id="lab_psa_Mr.MitraMember_documentation_en-US" xlink:label="lab_psa_Mr.MitraMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mr. Mitra</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_Mr.MitraMember" xlink:href="psa-20260630.xsd#psa_Mr.MitraMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_Mr.MitraMember" xlink:to="lab_psa_Mr.MitraMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis_019e1df9-29ec-707d-8e48-dd7a88e748d2_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Axis]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_ScheduleOfRealEstateFacilitiesLineItems_019e1df9-29ec-7a74-9121-15355b0de0a2_terseLabel_en-US" xlink:label="lab_psa_ScheduleOfRealEstateFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Real Estate Facilities [Line Items]</link:label>
    <link:label id="lab_psa_ScheduleOfRealEstateFacilitiesLineItems_label_en-US" xlink:label="lab_psa_ScheduleOfRealEstateFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Real Estate Facilities [Line Items]</link:label>
    <link:label id="lab_psa_ScheduleOfRealEstateFacilitiesLineItems_documentation_en-US" xlink:label="lab_psa_ScheduleOfRealEstateFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Real Estate Facilities [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_ScheduleOfRealEstateFacilitiesLineItems" xlink:href="psa-20260630.xsd#psa_ScheduleOfRealEstateFacilitiesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_ScheduleOfRealEstateFacilitiesLineItems" xlink:to="lab_psa_ScheduleOfRealEstateFacilitiesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnAdjsSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_PnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Adjustments Service Cost</link:label>
    <link:label id="lab_ecd_PnsnAdjsSvcCstMember_label_en-US" xlink:label="lab_ecd_PnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Adjustments Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnAdjsSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PnsnAdjsSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnAdjsSvcCstMember" xlink:to="lab_ecd_PnsnAdjsSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_GuaranteeNotesDue2030Member_019e1df9-295c-7239-8aee-353272f35ef3_terseLabel_en-US" xlink:label="lab_psa_GuaranteeNotesDue2030Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes Due 2030</link:label>
    <link:label id="lab_psa_GuaranteeNotesDue2030Member_label_en-US" xlink:label="lab_psa_GuaranteeNotesDue2030Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guarantee Notes Due 2030 [Member]</link:label>
    <link:label id="lab_psa_GuaranteeNotesDue2030Member_documentation_en-US" xlink:label="lab_psa_GuaranteeNotesDue2030Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Guarantee Notes Due 2030</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_GuaranteeNotesDue2030Member" xlink:href="psa-20260630.xsd#psa_GuaranteeNotesDue2030Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_GuaranteeNotesDue2030Member" xlink:to="lab_psa_GuaranteeNotesDue2030Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockParOrStatedValuePerShare_019e1df9-2898-75db-acff-dbc62b82d63b_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, par value (in USD per share)</link:label>
    <link:label id="lab_us-gaap_PreferredStockParOrStatedValuePerShare_label_en-US" xlink:label="lab_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockParOrStatedValuePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="lab_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtFairValue_019e1df9-2898-7d7a-8949-5c6b46dae854_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value</link:label>
    <link:label id="lab_us-gaap_LongTermDebtFairValue_label_en-US" xlink:label="lab_us-gaap_LongTermDebtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtFairValue" xlink:to="lab_us-gaap_LongTermDebtFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInIntangibleAssetsCurrent_019e1df9-295d-7a3f-90cb-d404181beb72_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInIntangibleAssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in finite-lived intangible assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInIntangibleAssetsCurrent_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInIntangibleAssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Intangible Assets, Current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInIntangibleAssetsCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInIntangibleAssetsCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInIntangibleAssetsCurrent" xlink:to="lab_us-gaap_IncreaseDecreaseInIntangibleAssetsCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_AggregateCostsToDevelopAndExpand_019e1df9-29ec-7eb6-ad8d-5627f82e1e89_terseLabel_en-US" xlink:label="lab_psa_AggregateCostsToDevelopAndExpand" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate costs to develop and expand</link:label>
    <link:label id="lab_psa_AggregateCostsToDevelopAndExpand_label_en-US" xlink:label="lab_psa_AggregateCostsToDevelopAndExpand" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Costs To Develop And Expand</link:label>
    <link:label id="lab_psa_AggregateCostsToDevelopAndExpand_documentation_en-US" xlink:label="lab_psa_AggregateCostsToDevelopAndExpand" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Aggregate costs to develop new self-storage facilities and expand existing self-storage facilities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_AggregateCostsToDevelopAndExpand" xlink:href="psa-20260630.xsd#psa_AggregateCostsToDevelopAndExpand"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_AggregateCostsToDevelopAndExpand" xlink:to="lab_psa_AggregateCostsToDevelopAndExpand" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Depreciation_019e1df9-295d-785c-a3c9-28d86b3dd47b_negatedLabel_en-US" xlink:label="lab_us-gaap_Depreciation" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Depreciation expense</link:label>
    <link:label id="lab_us-gaap_Depreciation_label_en-US" xlink:label="lab_us-gaap_Depreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Depreciation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Depreciation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Depreciation" xlink:to="lab_us-gaap_Depreciation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionDomain_019e1df9-2898-7ff4-95fb-c7d9c55985ad_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Domain]</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionDomain_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetAcquisitionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionDomain" xlink:to="lab_us-gaap_AssetAcquisitionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ScenarioUnspecifiedDomain_019f85bc-99ce-7e4a-80e5-212c93ba62c3_terseLabel_en-US" xlink:label="lab_srt_ScenarioUnspecifiedDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Scenario [Domain]</link:label>
    <link:label id="lab_srt_ScenarioUnspecifiedDomain_label_en-US" xlink:label="lab_srt_ScenarioUnspecifiedDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScenarioUnspecifiedDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ScenarioUnspecifiedDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScenarioUnspecifiedDomain" xlink:to="lab_srt_ScenarioUnspecifiedDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueFebruary152026Member_019e1df9-2898-7e15-bda8-3ff9dab7cc07_terseLabel_en-US" xlink:label="lab_psa_NotesDueFebruary152026Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due February&#160;15, 2026</link:label>
    <link:label id="lab_psa_NotesDueFebruary152026Member_label_en-US" xlink:label="lab_psa_NotesDueFebruary152026Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due February 15, 2026 [Member]</link:label>
    <link:label id="lab_psa_NotesDueFebruary152026Member_documentation_en-US" xlink:label="lab_psa_NotesDueFebruary152026Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due February 15, 2026 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueFebruary152026Member" xlink:href="psa-20260630.xsd#psa_NotesDueFebruary152026Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueFebruary152026Member" xlink:to="lab_psa_NotesDueFebruary152026Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_019e1df9-295c-7916-953c-a260ba1aa800_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Net Income Per Common Share</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DevelopmentInProcessWriteOffOfCancelledProjects_019e1df9-295d-73e3-8d63-52c9171dc6ad_negatedTerseLabel_en-US" xlink:label="lab_psa_DevelopmentInProcessWriteOffOfCancelledProjects" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Write-off of cancelled projects</link:label>
    <link:label id="lab_psa_DevelopmentInProcessWriteOffOfCancelledProjects_label_en-US" xlink:label="lab_psa_DevelopmentInProcessWriteOffOfCancelledProjects" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Development In Process, Write-Off Of Cancelled Projects</link:label>
    <link:label id="lab_psa_DevelopmentInProcessWriteOffOfCancelledProjects_documentation_en-US" xlink:label="lab_psa_DevelopmentInProcessWriteOffOfCancelledProjects" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Development In Process, Write-Off Of Cancelled Projects</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_DevelopmentInProcessWriteOffOfCancelledProjects" xlink:href="psa-20260630.xsd#psa_DevelopmentInProcessWriteOffOfCancelledProjects"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_DevelopmentInProcessWriteOffOfCancelledProjects" xlink:to="lab_psa_DevelopmentInProcessWriteOffOfCancelledProjects" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestLineItems_019e1df9-2898-7b02-8c65-47b444c288e4_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Line Items]</link:label>
    <link:label id="lab_us-gaap_MinorityInterestLineItems_label_en-US" xlink:label="lab_us-gaap_MinorityInterestLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestLineItems" xlink:to="lab_us-gaap_MinorityInterestLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_019e1df9-29ec-7d37-8839-93bd1ac39ad1_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentNameDomain" xlink:to="lab_us-gaap_DebtInstrumentNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_019e1df9-295c-71d7-8299-44b7cc6e8817_verboseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Segment Information</link:label>
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SegmentReportingDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:to="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCredit_019e1df9-29ec-7459-901e-64e7fdfc36e6_verboseLabel_en-US" xlink:label="lab_us-gaap_LineOfCredit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Outstanding borrowings</link:label>
    <link:label id="lab_us-gaap_LineOfCredit_label_en-US" xlink:label="lab_us-gaap_LineOfCredit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Line of Credit</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCredit" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCredit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCredit" xlink:to="lab_us-gaap_LineOfCredit" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MinimumMember_019e1df9-295d-71cf-b276-852eba93c8a0_terseLabel_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum</link:label>
    <link:label id="lab_srt_MinimumMember_label_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MinimumMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MinimumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MinimumMember" xlink:to="lab_srt_MinimumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentQuotedMarketValue_019e1df9-295d-78a9-b6a0-e0a8f3d0276d_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentQuotedMarketValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Market value</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentQuotedMarketValue_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentQuotedMarketValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Quoted Market Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentQuotedMarketValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentQuotedMarketValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentQuotedMarketValue" xlink:to="lab_us-gaap_EquityMethodInvestmentQuotedMarketValue" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_A4.700SeniorNotesDue2032Member_019f7d7a-157e-7275-8733-8bce9981eb85_terseLabel_en-US" xlink:label="lab_psa_A4.700SeniorNotesDue2032Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">4.700% Senior Notes Due 2032</link:label>
    <link:label id="lab_psa_A4.700SeniorNotesDue2032Member_label_en-US" xlink:label="lab_psa_A4.700SeniorNotesDue2032Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">4.700% Senior Notes Due 2032 [Member]</link:label>
    <link:label id="lab_psa_A4.700SeniorNotesDue2032Member_documentation_en-US" xlink:label="lab_psa_A4.700SeniorNotesDue2032Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">4.700% Senior Notes Due 2032</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_A4.700SeniorNotesDue2032Member" xlink:href="psa-20260630.xsd#psa_A4.700SeniorNotesDue2032Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_A4.700SeniorNotesDue2032Member" xlink:to="lab_psa_A4.700SeniorNotesDue2032Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrExpirationDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrExpirationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expiration Date</link:label>
    <link:label id="lab_ecd_TrdArrExpirationDate_label_en-US" xlink:label="lab_ecd_TrdArrExpirationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Expiration Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrExpirationDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrExpirationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrExpirationDate" xlink:to="lab_ecd_TrdArrExpirationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_019e1df9-295c-789b-b240-f95726717ed3_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_AccumulatedDepreciationOnRealEstateInvestmentsDisposed_019e1df9-29ec-70ba-b700-f6915622b0cc_terseLabel_en-US" xlink:label="lab_psa_AccumulatedDepreciationOnRealEstateInvestmentsDisposed" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfers, dispositions and retirements</link:label>
    <link:label id="lab_psa_AccumulatedDepreciationOnRealEstateInvestmentsDisposed_label_en-US" xlink:label="lab_psa_AccumulatedDepreciationOnRealEstateInvestmentsDisposed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Depreciation On Real Estate Investments Disposed</link:label>
    <link:label id="lab_psa_AccumulatedDepreciationOnRealEstateInvestmentsDisposed_documentation_en-US" xlink:label="lab_psa_AccumulatedDepreciationOnRealEstateInvestmentsDisposed" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cumulative amount of expense recognized in prior periods for long-lived, physical assets disposed of during the current period.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_AccumulatedDepreciationOnRealEstateInvestmentsDisposed" xlink:href="psa-20260630.xsd#psa_AccumulatedDepreciationOnRealEstateInvestmentsDisposed"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_AccumulatedDepreciationOnRealEstateInvestmentsDisposed" xlink:to="lab_psa_AccumulatedDepreciationOnRealEstateInvestmentsDisposed" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfIncomeLocationBalanceAxis_019e1df9-2898-7a0d-96ab-f52d3d719d22_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementOfIncomeLocationBalanceAxis_label_en-US" xlink:label="lab_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Location, Statement of Income, Balance [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfIncomeLocationBalanceAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:to="lab_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonRule10b51ArrAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Adopted</link:label>
    <link:label id="lab_ecd_NonRule10b51ArrAdoptedFlag_label_en-US" xlink:label="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonRule10b51ArrAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonRule10b51ArrAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonRule10b51ArrAdoptedFlag" xlink:to="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019e1df9-295c-7a4b-b1bd-7c6c4369178d_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019e1df9-295c-7372-a95e-2af6e457b35e_periodStartLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019e1df9-295c-7ca4-9f0a-7e81a2cc6bd2_periodEndLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table</link:label>
    <link:label id="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:to="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RepaymentsOfNotesPayable_019e1df9-295d-73fc-999a-2476877bc4f7_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfNotesPayable" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repayments of notes payable</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfNotesPayable_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfNotesPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Notes Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfNotesPayable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RepaymentsOfNotesPayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfNotesPayable" xlink:to="lab_us-gaap_RepaymentsOfNotesPayable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessAcquisitionLineItems_019e1df9-2898-78f8-9186-7167e3e1f4bd_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination [Line Items]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionLineItems_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BusinessAcquisitionLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems" xlink:to="lab_us-gaap_BusinessAcquisitionLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtPnsnAdjsSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Pension Adjustments Service Cost</link:label>
    <link:label id="lab_ecd_AggtPnsnAdjsSvcCstMember_label_en-US" xlink:label="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Pension Adjustments Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtPnsnAdjsSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtPnsnAdjsSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtPnsnAdjsSvcCstMember" xlink:to="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_019e1df9-2898-7813-93bf-15f26d4b7bcf_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesAuthorized" xlink:to="lab_us-gaap_CommonStockSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareReconciliationAbstract_019e1df9-295d-7120-a104-56a7eaaba679_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareReconciliationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income per common share:</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareReconciliationAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareReconciliationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share Reconciliation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareReconciliationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareReconciliationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareReconciliationAbstract" xlink:to="lab_us-gaap_EarningsPerShareReconciliationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_019e1df9-295d-7c7a-bdf1-4b8819971602_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total real estate facilities, net</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateInvestmentPropertyNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyNet" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfUnitsInRealEstateProperty_019e1df9-2898-7660-818f-59c3f85aaeb6_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfUnitsInRealEstateProperty" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of units in real estate property</link:label>
    <link:label id="lab_us-gaap_NumberOfUnitsInRealEstateProperty_label_en-US" xlink:label="lab_us-gaap_NumberOfUnitsInRealEstateProperty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Units in Real Estate Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfUnitsInRealEstateProperty" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfUnitsInRealEstateProperty"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfUnitsInRealEstateProperty" xlink:to="lab_us-gaap_NumberOfUnitsInRealEstateProperty" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_IntangibleAssetsGrossIncludingGoodwill_019e1df9-2898-7839-a977-adcdfe7469af_totalLabel_en-US" xlink:label="lab_psa_IntangibleAssetsGrossIncludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Gross Book Value</link:label>
    <link:label id="lab_psa_IntangibleAssetsGrossIncludingGoodwill_label_en-US" xlink:label="lab_psa_IntangibleAssetsGrossIncludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Assets, Gross (Including Goodwill)</link:label>
    <link:label id="lab_psa_IntangibleAssetsGrossIncludingGoodwill_documentation_en-US" xlink:label="lab_psa_IntangibleAssetsGrossIncludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Assets, Gross (Including Goodwill)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_IntangibleAssetsGrossIncludingGoodwill" xlink:href="psa-20260630.xsd#psa_IntangibleAssetsGrossIncludingGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_IntangibleAssetsGrossIncludingGoodwill" xlink:to="lab_psa_IntangibleAssetsGrossIncludingGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardExrcPrice_terseLabel_en-US" xlink:label="lab_ecd_AwardExrcPrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercise Price</link:label>
    <link:label id="lab_ecd_AwardExrcPrice_label_en-US" xlink:label="lab_ecd_AwardExrcPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Exercise Price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardExrcPrice" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardExrcPrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardExrcPrice" xlink:to="lab_ecd_AwardExrcPrice" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable_019e1df9-295c-7949-b45b-d2dbaffa25bd_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restructuring Cost [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restructuring Cost [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRestructuringAndRelatedCostsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:to="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_019e1df9-2898-722f-bef9-d342584d11ac_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investing Activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_PrivateEquityInvestmentsMember_019e1df9-2898-774d-a521-471f6bb33138_terseLabel_en-US" xlink:label="lab_psa_PrivateEquityInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Private Equity Investments</link:label>
    <link:label id="lab_psa_PrivateEquityInvestmentsMember_label_en-US" xlink:label="lab_psa_PrivateEquityInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Private Equity Investments [Member]</link:label>
    <link:label id="lab_psa_PrivateEquityInvestmentsMember_documentation_en-US" xlink:label="lab_psa_PrivateEquityInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Private Equity Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_PrivateEquityInvestmentsMember" xlink:href="psa-20260630.xsd#psa_PrivateEquityInvestmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_PrivateEquityInvestmentsMember" xlink:to="lab_psa_PrivateEquityInvestmentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_FinancingReceivableTerm_019e1df9-295d-7a5b-8bbc-2aba3c31639b_terseLabel_en-US" xlink:label="lab_psa_FinancingReceivableTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing receivable, term (in years)</link:label>
    <link:label id="lab_psa_FinancingReceivableTerm_label_en-US" xlink:label="lab_psa_FinancingReceivableTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Term</link:label>
    <link:label id="lab_psa_FinancingReceivableTerm_documentation_en-US" xlink:label="lab_psa_FinancingReceivableTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_FinancingReceivableTerm" xlink:href="psa-20260630.xsd#psa_FinancingReceivableTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_FinancingReceivableTerm" xlink:to="lab_psa_FinancingReceivableTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_019e1df9-2898-7a42-b7ad-0596eb67c24b_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingInformationLineItems_019e1df9-2898-786a-ba6e-21b694fbffe3_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Reporting [Line Items]</link:label>
    <link:label id="lab_us-gaap_SegmentReportingInformationLineItems_label_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingInformationLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SegmentReportingInformationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems" xlink:to="lab_us-gaap_SegmentReportingInformationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_MaximumCovenantMember_019e1df9-29ec-78ae-95e1-8aad3487c09b_terseLabel_en-US" xlink:label="lab_psa_MaximumCovenantMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Covenant</link:label>
    <link:label id="lab_psa_MaximumCovenantMember_label_en-US" xlink:label="lab_psa_MaximumCovenantMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Covenant [Member]</link:label>
    <link:label id="lab_psa_MaximumCovenantMember_documentation_en-US" xlink:label="lab_psa_MaximumCovenantMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maximum Covenant [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_MaximumCovenantMember" xlink:href="psa-20260630.xsd#psa_MaximumCovenantMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_MaximumCovenantMember" xlink:to="lab_psa_MaximumCovenantMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_019e1df9-29ec-703b-9464-55644f673e73_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized compensation cost</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentQuarterlyReport_019e1df9-295d-798e-a814-b100eb2bbc06_terseLabel_en-US" xlink:label="lab_dei_DocumentQuarterlyReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Quarterly Report</link:label>
    <link:label id="lab_dei_DocumentQuarterlyReport_label_en-US" xlink:label="lab_dei_DocumentQuarterlyReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Quarterly Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentQuarterlyReport" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentQuarterlyReport"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentQuarterlyReport" xlink:to="lab_dei_DocumentQuarterlyReport" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_terseLabel_en-US" xlink:label="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested</link:label>
    <link:label id="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_label_en-US" xlink:label="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:to="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentDomain_019e1df9-2898-74be-b7b8-dec00d327c00_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment [Domain]</link:label>
    <link:label id="lab_us-gaap_SegmentDomain_label_en-US" xlink:label="lab_us-gaap_SegmentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SegmentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentDomain" xlink:to="lab_us-gaap_SegmentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems_019e1df9-2898-73f3-a901-67a6a8b0e499_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Expensed, Amount [Line Items]</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestRateSwapMember_019e1df9-29ec-7a39-b08e-d3bc16eee341_terseLabel_en-US" xlink:label="lab_us-gaap_InterestRateSwapMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Rate Swap</link:label>
    <link:label id="lab_us-gaap_InterestRateSwapMember_label_en-US" xlink:label="lab_us-gaap_InterestRateSwapMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Swap [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestRateSwapMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestRateSwapMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestRateSwapMember" xlink:to="lab_us-gaap_InterestRateSwapMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_019e1df9-295c-7863-80a9-68910573c6c3_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes Receivable</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_019e1df9-295c-7211-8754-6c6972a1b976_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Notes Payable</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureTextBlock" xlink:to="lab_us-gaap_DebtDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_StatementScenarioAxis_019f85bc-99ce-7497-85d6-ba979a47fbc2_terseLabel_en-US" xlink:label="lab_srt_StatementScenarioAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Scenario [Axis]</link:label>
    <link:label id="lab_srt_StatementScenarioAxis_label_en-US" xlink:label="lab_srt_StatementScenarioAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StatementScenarioAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_StatementScenarioAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_StatementScenarioAxis" xlink:to="lab_srt_StatementScenarioAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ContractualObligation_019e1df9-295c-71f1-8411-bc185b7fee7c_totalLabel_en-US" xlink:label="lab_us-gaap_ContractualObligation" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Construction commitments</link:label>
    <link:label id="lab_us-gaap_ContractualObligation_label_en-US" xlink:label="lab_us-gaap_ContractualObligation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contractual Obligation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractualObligation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ContractualObligation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ContractualObligation" xlink:to="lab_us-gaap_ContractualObligation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NotesReceivableNet_019e1df9-295d-7cfd-be2f-01f62a807287_terseLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes receivable, net</link:label>
    <link:label id="lab_us-gaap_NotesReceivableNet_label_en-US" xlink:label="lab_us-gaap_NotesReceivableNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, after Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NotesReceivableNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NotesReceivableNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesReceivableNet" xlink:to="lab_us-gaap_NotesReceivableNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_019e1df9-2898-77ab-acdd-dd6516e2dc22_negatedLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Unamortized Costs</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock_019e1df9-295d-77d8-941d-652b39bf54ca_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Restructuring and Related Costs</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restructuring and Related Costs [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock" xlink:to="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Table</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardsCloseToMnpiDiscTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:to="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_PSCanadaHoldingLLCMember_019f5f14-c046-76dc-b75b-5fa2d0b2a6db_terseLabel_en-US" xlink:label="lab_psa_PSCanadaHoldingLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PS Canada Holding , LLC</link:label>
    <link:label id="lab_psa_PSCanadaHoldingLLCMember_label_en-US" xlink:label="lab_psa_PSCanadaHoldingLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PS Canada Holding , LLC [Member]</link:label>
    <link:label id="lab_psa_PSCanadaHoldingLLCMember_documentation_en-US" xlink:label="lab_psa_PSCanadaHoldingLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">PS Canada Holding , LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_PSCanadaHoldingLLCMember" xlink:href="psa-20260630.xsd#psa_PSCanadaHoldingLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_PSCanadaHoldingLLCMember" xlink:to="lab_psa_PSCanadaHoldingLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateDisclosureTextBlock_019e1df9-2898-7114-a46d-0059563dc3b0_verboseLabel_en-US" xlink:label="lab_us-gaap_RealEstateDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Facilities</link:label>
    <link:label id="lab_us-gaap_RealEstateDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_RealEstateDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateDisclosureTextBlock" xlink:to="lab_us-gaap_RealEstateDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestructuringReserve_019e1df9-29ec-7c77-9d2c-f0780e131082_periodStartLabel_en-US" xlink:label="lab_us-gaap_RestructuringReserve" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balances at December 31, 2025</link:label>
    <link:label id="lab_us-gaap_RestructuringReserve_019e1df9-29ec-75b2-bd1a-77286a5fdc26_periodEndLabel_en-US" xlink:label="lab_us-gaap_RestructuringReserve" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balances at June 30, 2026</link:label>
    <link:label id="lab_us-gaap_RestructuringReserve_label_en-US" xlink:label="lab_us-gaap_RestructuringReserve" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restructuring Reserve</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestructuringReserve" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestructuringReserve"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestructuringReserve" xlink:to="lab_us-gaap_RestructuringReserve" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_019e1df9-295c-7ab5-ab66-6a4153cef0a8_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:to="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityComponentDomain_019e1df9-2898-720a-be67-815591afed5d_terseLabel_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:label id="lab_us-gaap_EquityComponentDomain_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityComponentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityComponentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityComponentDomain" xlink:to="lab_us-gaap_EquityComponentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_PartnershipUnitsConversionRatio_019e1df9-29ec-7a80-9565-fd31339bd855_terseLabel_en-US" xlink:label="lab_psa_PartnershipUnitsConversionRatio" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partnership units conversion ratio</link:label>
    <link:label id="lab_psa_PartnershipUnitsConversionRatio_label_en-US" xlink:label="lab_psa_PartnershipUnitsConversionRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partnership Units Conversion Ratio</link:label>
    <link:label id="lab_psa_PartnershipUnitsConversionRatio_documentation_en-US" xlink:label="lab_psa_PartnershipUnitsConversionRatio" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Partnership Units Conversion Ratio to Common Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_PartnershipUnitsConversionRatio" xlink:href="psa-20260630.xsd#psa_PartnershipUnitsConversionRatio"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_PartnershipUnitsConversionRatio" xlink:to="lab_psa_PartnershipUnitsConversionRatio" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoActuallyPaidCompAmt_terseLabel_en-US" xlink:label="lab_ecd_PeoActuallyPaidCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Actually Paid Compensation Amount</link:label>
    <link:label id="lab_ecd_PeoActuallyPaidCompAmt_label_en-US" xlink:label="lab_ecd_PeoActuallyPaidCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Actually Paid Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoActuallyPaidCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoActuallyPaidCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoActuallyPaidCompAmt" xlink:to="lab_ecd_PeoActuallyPaidCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityAbstract_019e1df9-2898-7ffe-90ef-9bcc88d05517_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit Facility [Abstract]</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityAbstract_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditFacilityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityAbstract" xlink:to="lab_us-gaap_LineOfCreditFacilityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationAndAssetAcquisitionAbstract_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationAndAssetAcquisitionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationAndAssetAcquisitionAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BusinessCombinationAndAssetAcquisitionAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationAndAssetAcquisitionAbstract" xlink:to="lab_us-gaap_BusinessCombinationAndAssetAcquisitionAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CostsAndExpenses_019e1df9-29ec-772c-960c-0f7e85aec63d_totalLabel_en-US" xlink:label="lab_us-gaap_CostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total expenses</link:label>
    <link:label id="lab_us-gaap_CostsAndExpenses_label_en-US" xlink:label="lab_us-gaap_CostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Costs and Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CostsAndExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CostsAndExpenses" xlink:to="lab_us-gaap_CostsAndExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrAdoptionDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrAdoptionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adoption Date</link:label>
    <link:label id="lab_ecd_TrdArrAdoptionDate_label_en-US" xlink:label="lab_ecd_TrdArrAdoptionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Adoption Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrAdoptionDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrAdoptionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrAdoptionDate" xlink:to="lab_ecd_TrdArrAdoptionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_IncreaseDecreaseInStockholdersEquityDistributionsAbstract_019e1df9-295c-7c42-8006-7904fc24ce0d_terseLabel_en-US" xlink:label="lab_psa_IncreaseDecreaseInStockholdersEquityDistributionsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions to:</link:label>
    <link:label id="lab_psa_IncreaseDecreaseInStockholdersEquityDistributionsAbstract_label_en-US" xlink:label="lab_psa_IncreaseDecreaseInStockholdersEquityDistributionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity, Distributions [Abstract]</link:label>
    <link:label id="lab_psa_IncreaseDecreaseInStockholdersEquityDistributionsAbstract_documentation_en-US" xlink:label="lab_psa_IncreaseDecreaseInStockholdersEquityDistributionsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity, Distributions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_IncreaseDecreaseInStockholdersEquityDistributionsAbstract" xlink:href="psa-20260630.xsd#psa_IncreaseDecreaseInStockholdersEquityDistributionsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_IncreaseDecreaseInStockholdersEquityDistributionsAbstract" xlink:to="lab_psa_IncreaseDecreaseInStockholdersEquityDistributionsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_019e1df9-295d-71ff-a4a8-980419a23be4_terseLabel_en-US" xlink:label="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Counterparty Name [Domain]</link:label>
    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_label_en-US" xlink:label="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparty Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RepurchaseAgreementCounterpartyNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:to="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_ConvertiblePartnershipUnits_019e1df9-2898-731c-8829-5c631774830a_verboseLabel_en-US" xlink:label="lab_psa_ConvertiblePartnershipUnits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Convertible partnership units (in shares)</link:label>
    <link:label id="lab_psa_ConvertiblePartnershipUnits_label_en-US" xlink:label="lab_psa_ConvertiblePartnershipUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Convertible Partnership Units</link:label>
    <link:label id="lab_psa_ConvertiblePartnershipUnits_documentation_en-US" xlink:label="lab_psa_ConvertiblePartnershipUnits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Convertible Partnership Units.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_ConvertiblePartnershipUnits" xlink:href="psa-20260630.xsd#psa_ConvertiblePartnershipUnits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_ConvertiblePartnershipUnits" xlink:to="lab_psa_ConvertiblePartnershipUnits" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_019e1df9-29ec-7943-9fb2-ff4f744ea7ec_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Coupon Rate</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_019e1df9-29ec-7375-8acc-bcca81ab665a_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate (in percent)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Stated Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquity_019e1df9-2898-702f-9f19-daf76aa11f5a_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Public Storage shareholders&#8217; equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquity_label_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity" xlink:to="lab_us-gaap_StockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestructuringCostAndReserveAxis_019e1df9-29ec-7c09-9357-30df47831d3c_terseLabel_en-US" xlink:label="lab_us-gaap_RestructuringCostAndReserveAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restructuring Type [Axis]</link:label>
    <link:label id="lab_us-gaap_RestructuringCostAndReserveAxis_label_en-US" xlink:label="lab_us-gaap_RestructuringCostAndReserveAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restructuring Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestructuringCostAndReserveAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestructuringCostAndReserveAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestructuringCostAndReserveAxis" xlink:to="lab_us-gaap_RestructuringCostAndReserveAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgingAssetsNoncurrent_019e1df9-29ec-7637-804c-447c59938fe2_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingAssetsNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedge accounting fair value adjustment</link:label>
    <link:label id="lab_us-gaap_HedgingAssetsNoncurrent_label_en-US" xlink:label="lab_us-gaap_HedgingAssetsNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Assets, Noncurrent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingAssetsNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_HedgingAssetsNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingAssetsNoncurrent" xlink:to="lab_us-gaap_HedgingAssetsNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsAbstract_019e1df9-2898-7235-869d-b50df0b529ac_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ASSETS</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract" xlink:to="lab_us-gaap_AssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrIndTitle_terseLabel_en-US" xlink:label="lab_ecd_TrdArrIndTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title</link:label>
    <link:label id="lab_ecd_TrdArrIndTitle_label_en-US" xlink:label="lab_ecd_TrdArrIndTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Individual Title</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrIndTitle" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrIndTitle"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrIndTitle" xlink:to="lab_ecd_TrdArrIndTitle" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Disqualification of Tax Benefits, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Disqualification of Tax Benefits, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_019e1df9-2898-73c2-98a0-8fa949636c76_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business combination, consideration transferred, equity interest (in shares)</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Consideration Transferred, Equity Interest, Share Issued, Number of Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:to="lab_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_019e1df9-29ec-78ec-9101-9e5b5db0f47d_terseLabel_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_label_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountingPoliciesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountingPoliciesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract" xlink:to="lab_us-gaap_AccountingPoliciesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfCapitalDistribution_019e1df9-29ec-75e9-bc8b-6dbb3e9e21eb_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfCapitalDistribution" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions paid to preferred shareholders, common shareholders, restricted share unitholders and unvested LTIP unitholders</link:label>
    <link:label id="lab_us-gaap_PaymentsOfCapitalDistribution_label_en-US" xlink:label="lab_us-gaap_PaymentsOfCapitalDistribution" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Capital Distribution</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfCapitalDistribution" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsOfCapitalDistribution"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfCapitalDistribution" xlink:to="lab_us-gaap_PaymentsOfCapitalDistribution" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock_terseLabel_en-US" xlink:label="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement does not require Recovery</link:label>
    <link:label id="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock_label_en-US" xlink:label="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Does Not Require Recovery [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RestatementDoesNotRequireRecoveryTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:to="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_PropertyTaxesMember_019e1df9-29ec-79a2-baca-a0cb59b01dd6_terseLabel_en-US" xlink:label="lab_psa_PropertyTaxesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property taxes</link:label>
    <link:label id="lab_psa_PropertyTaxesMember_label_en-US" xlink:label="lab_psa_PropertyTaxesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property Taxes [Member]</link:label>
    <link:label id="lab_psa_PropertyTaxesMember_documentation_en-US" xlink:label="lab_psa_PropertyTaxesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Property Taxes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_PropertyTaxesMember" xlink:href="psa-20260630.xsd#psa_PropertyTaxesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_PropertyTaxesMember" xlink:to="lab_psa_PropertyTaxesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DividendsCommonStockAndRestrictedShareUnits_019e1df9-295c-7dd7-af86-eac6db158e5b_negatedLabel_en-US" xlink:label="lab_psa_DividendsCommonStockAndRestrictedShareUnits" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Common shareholders, restricted share unitholders and unvested LTIP unitholders</link:label>
    <link:label id="lab_psa_DividendsCommonStockAndRestrictedShareUnits_label_en-US" xlink:label="lab_psa_DividendsCommonStockAndRestrictedShareUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Common Stock And Restricted Share Units</link:label>
    <link:label id="lab_psa_DividendsCommonStockAndRestrictedShareUnits_documentation_en-US" xlink:label="lab_psa_DividendsCommonStockAndRestrictedShareUnits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividends, Common Stock And Restricted Share Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_DividendsCommonStockAndRestrictedShareUnits" xlink:href="psa-20260630.xsd#psa_DividendsCommonStockAndRestrictedShareUnits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_DividendsCommonStockAndRestrictedShareUnits" xlink:to="lab_psa_DividendsCommonStockAndRestrictedShareUnits" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTradingPoliciesProcLineItems_label_en-US" xlink:label="lab_ecd_InsiderTradingPoliciesProcLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTradingPoliciesProcLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTradingPoliciesProcLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTradingPoliciesProcLineItems" xlink:to="lab_ecd_InsiderTradingPoliciesProcLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForEnergyEfficiencies_019e1df9-29ec-701c-8024-84dcee6ec3a3_terseLabel_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForEnergyEfficiencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures for energy efficiencies (Solar, heat pumps, LED lighting)</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForEnergyEfficiencies_label_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForEnergyEfficiencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property At Cost, Capital Expenditures For Energy Efficiencies</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForEnergyEfficiencies_documentation_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForEnergyEfficiencies" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property At Cost, Capital Expenditures For Energy Efficiencies</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForEnergyEfficiencies" xlink:href="psa-20260630.xsd#psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForEnergyEfficiencies"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForEnergyEfficiencies" xlink:to="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForEnergyEfficiencies" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueNovember92026Member_019e1df9-2898-7a11-8fec-35ef4e2b267f_terseLabel_en-US" xlink:label="lab_psa_NotesDueNovember92026Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due November 9, 2026</link:label>
    <link:label id="lab_psa_NotesDueNovember92026Member_label_en-US" xlink:label="lab_psa_NotesDueNovember92026Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due November 9, 2026 [Member]</link:label>
    <link:label id="lab_psa_NotesDueNovember92026Member_documentation_en-US" xlink:label="lab_psa_NotesDueNovember92026Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due November 9, 2026</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueNovember92026Member" xlink:href="psa-20260630.xsd#psa_NotesDueNovember92026Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueNovember92026Member" xlink:to="lab_psa_NotesDueNovember92026Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Adopted</link:label>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag_label_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTrdPoliciesProcAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:to="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RealEstateAcquisitionAndDevelopmentExpense_019e1df9-295c-7162-bf21-afaf71346695_terseLabel_en-US" xlink:label="lab_psa_RealEstateAcquisitionAndDevelopmentExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate acquisition and development expense</link:label>
    <link:label id="lab_psa_RealEstateAcquisitionAndDevelopmentExpense_019e1df9-295c-7035-a4a6-b1893e473b57_negatedTerseLabel_en-US" xlink:label="lab_psa_RealEstateAcquisitionAndDevelopmentExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Real estate acquisition and development expense</link:label>
    <link:label id="lab_psa_RealEstateAcquisitionAndDevelopmentExpense_label_en-US" xlink:label="lab_psa_RealEstateAcquisitionAndDevelopmentExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Acquisition And Development Expense</link:label>
    <link:label id="lab_psa_RealEstateAcquisitionAndDevelopmentExpense_documentation_en-US" xlink:label="lab_psa_RealEstateAcquisitionAndDevelopmentExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Acquisition And Development Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RealEstateAcquisitionAndDevelopmentExpense" xlink:href="psa-20260630.xsd#psa_RealEstateAcquisitionAndDevelopmentExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RealEstateAcquisitionAndDevelopmentExpense" xlink:to="lab_psa_RealEstateAcquisitionAndDevelopmentExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_TotalEquityMember_019e1df9-2898-7a01-ba30-78ef08d1c204_terseLabel_en-US" xlink:label="lab_psa_TotalEquityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Equity</link:label>
    <link:label id="lab_psa_TotalEquityMember_label_en-US" xlink:label="lab_psa_TotalEquityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Equity [Member]</link:label>
    <link:label id="lab_psa_TotalEquityMember_documentation_en-US" xlink:label="lab_psa_TotalEquityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Total Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_TotalEquityMember" xlink:href="psa-20260630.xsd#psa_TotalEquityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_TotalEquityMember" xlink:to="lab_psa_TotalEquityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_A4.855SeniorNotesDue2032Member_019f809d-6ddb-7199-a1f4-2161eeaf3acb_terseLabel_en-US" xlink:label="lab_psa_A4.855SeniorNotesDue2032Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">4.855% Senior Notes Due 2036</link:label>
    <link:label id="lab_psa_A4.855SeniorNotesDue2032Member_label_en-US" xlink:label="lab_psa_A4.855SeniorNotesDue2032Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">4.855% Senior Notes Due 2032 [Member]</link:label>
    <link:label id="lab_psa_A4.855SeniorNotesDue2032Member_documentation_en-US" xlink:label="lab_psa_A4.855SeniorNotesDue2032Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">4.855% Senior Notes Due 2032</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_A4.855SeniorNotesDue2032Member" xlink:href="psa-20260630.xsd#psa_A4.855SeniorNotesDue2032Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_A4.855SeniorNotesDue2032Member" xlink:to="lab_psa_A4.855SeniorNotesDue2032Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TypeOfRestructuringDomain_019e1df9-295c-7748-9f60-4d6bf1774ab6_terseLabel_en-US" xlink:label="lab_us-gaap_TypeOfRestructuringDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Type of Restructuring [Domain]</link:label>
    <link:label id="lab_us-gaap_TypeOfRestructuringDomain_label_en-US" xlink:label="lab_us-gaap_TypeOfRestructuringDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Type of Restructuring [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TypeOfRestructuringDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TypeOfRestructuringDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TypeOfRestructuringDomain" xlink:to="lab_us-gaap_TypeOfRestructuringDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_019e1df9-29ec-7a24-904f-9db96bda6eba_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination [Domain]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BusinessAcquisitionAcquireeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:to="lab_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_019e1df9-295d-7850-91e4-36b97407aebd_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Net Income</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Net Income [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsNetIncomeTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_019e1df9-2898-7675-9066-74c854f07993_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Antidilutive securities excluded from computation of earnings per share (in shares)</link:label>
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_CapitalExpendituresForPropertyEnhancements_019e1df9-2898-73ff-ba75-d7616e6b0652_negatedTerseLabel_en-US" xlink:label="lab_psa_CapitalExpendituresForPropertyEnhancements" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures for property enhancements</link:label>
    <link:label id="lab_psa_CapitalExpendituresForPropertyEnhancements_label_en-US" xlink:label="lab_psa_CapitalExpendituresForPropertyEnhancements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Expenditures For Property Enhancements</link:label>
    <link:label id="lab_psa_CapitalExpendituresForPropertyEnhancements_documentation_en-US" xlink:label="lab_psa_CapitalExpendituresForPropertyEnhancements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Expenditures For Property Enhancements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_CapitalExpendituresForPropertyEnhancements" xlink:href="psa-20260630.xsd#psa_CapitalExpendituresForPropertyEnhancements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_CapitalExpendituresForPropertyEnhancements" xlink:to="lab_psa_CapitalExpendituresForPropertyEnhancements" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GoodwillGross_019e1df9-295c-7e70-bdf2-60989470a915_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill, gross</link:label>
    <link:label id="lab_us-gaap_GoodwillGross_label_en-US" xlink:label="lab_us-gaap_GoodwillGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillGross" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GoodwillGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillGross" xlink:to="lab_us-gaap_GoodwillGross" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCentralIndexKey_019e1df9-295d-7c69-9340-9fd7ad8d8f44_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCentralIndexKey"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey" xlink:to="lab_dei_EntityCentralIndexKey" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllAdjToCompMember_terseLabel_en-US" xlink:label="lab_ecd_AllAdjToCompMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Adjustments to Compensation</link:label>
    <link:label id="lab_ecd_AllAdjToCompMember_label_en-US" xlink:label="lab_ecd_AllAdjToCompMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Adjustments to Compensation [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllAdjToCompMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllAdjToCompMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllAdjToCompMember" xlink:to="lab_ecd_AllAdjToCompMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_019e1df9-295d-7ee8-adb5-134383aa33b0_terseLabel_en-US" xlink:label="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other non-cash adjustments</link:label>
    <link:label id="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_label_en-US" xlink:label="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Other Item</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherOperatingActivitiesCashFlowStatement"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:to="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessAcquisitionAxis_019e1df9-295d-7acf-aecc-dc939f0c7a9f_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Combination [Axis]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionAxis_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BusinessAcquisitionAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAxis" xlink:to="lab_us-gaap_BusinessAcquisitionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year</link:label>
    <link:label id="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember_label_en-US" xlink:label="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:to="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockLiquidationPreferenceValue_019e1df9-29ec-7a96-afbd-897e8b75c588_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockLiquidationPreferenceValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liquidation Preference</link:label>
    <link:label id="lab_us-gaap_PreferredStockLiquidationPreferenceValue_label_en-US" xlink:label="lab_us-gaap_PreferredStockLiquidationPreferenceValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Liquidation Preference, Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockLiquidationPreferenceValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockLiquidationPreferenceValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockLiquidationPreferenceValue" xlink:to="lab_us-gaap_PreferredStockLiquidationPreferenceValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_019e1df9-29ec-7c7f-af0b-7f8093467415_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash flows from (used in) operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_019e1df9-29ec-7f81-a9e4-cfae5dfb1f53_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Remainder of 2026</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireNotesReceivable_019e1df9-295d-7f26-b573-99809fefbf16_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireNotesReceivable" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Issuance of notes receivable</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireNotesReceivable_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireNotesReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Notes Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireNotesReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToAcquireNotesReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireNotesReceivable" xlink:to="lab_us-gaap_PaymentsToAcquireNotesReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesJPreferredStockMember_019e1df9-295c-717d-8fc0-96d83793dcdc_terseLabel_en-US" xlink:label="lab_psa_SeriesJPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series J Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesJPreferredStockMember_019e1df9-295c-7b55-830d-9d9a3736c37a_verboseLabel_en-US" xlink:label="lab_psa_SeriesJPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series J</link:label>
    <link:label id="lab_psa_SeriesJPreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesJPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series J Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesJPreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesJPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Outstanding nonredeemable series J preferred stock or outstanding series J preferred stock. Classified within stockholders' equity if nonredeemable or redeemable solely at the option of the issuer. Classified within temporary equity if redemption is outside the control of the issuer.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesJPreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesJPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesJPreferredStockMember" xlink:to="lab_psa_SeriesJPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeStatementAbstract_019e1df9-29ec-7113-a5cd-73bcdb08d5e3_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeStatementAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract" xlink:to="lab_us-gaap_IncomeStatementAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityAbstract_019e1df9-29ec-7570-ab9b-76e79ef0b36f_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Public Storage shareholders&#8217; equity:</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Parent [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityAbstract" xlink:to="lab_us-gaap_StockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentTransitionReport_019e1df9-2898-73b9-9628-2dda4abf88a7_terseLabel_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:label id="lab_dei_DocumentTransitionReport_label_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentTransitionReport" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentTransitionReport"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentTransitionReport" xlink:to="lab_dei_DocumentTransitionReport" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OwnershipAxis_019e1df9-29ec-79c3-a190-814aff4197e1_terseLabel_en-US" xlink:label="lab_srt_OwnershipAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership [Axis]</link:label>
    <link:label id="lab_srt_OwnershipAxis_label_en-US" xlink:label="lab_srt_OwnershipAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OwnershipAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OwnershipAxis" xlink:to="lab_srt_OwnershipAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_AcquisitionOfSelfStorageFacilitiesMember_019e1df9-2898-7168-a01b-77f2a55e9357_terseLabel_en-US" xlink:label="lab_psa_AcquisitionOfSelfStorageFacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition of Self-Storage Facilities Other Investments</link:label>
    <link:label id="lab_psa_AcquisitionOfSelfStorageFacilitiesMember_label_en-US" xlink:label="lab_psa_AcquisitionOfSelfStorageFacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition Of Self Storage Facilities [Member]</link:label>
    <link:label id="lab_psa_AcquisitionOfSelfStorageFacilitiesMember_documentation_en-US" xlink:label="lab_psa_AcquisitionOfSelfStorageFacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Acquisition Of Self Storage Facilities [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_AcquisitionOfSelfStorageFacilitiesMember" xlink:href="psa-20260630.xsd#psa_AcquisitionOfSelfStorageFacilitiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_AcquisitionOfSelfStorageFacilitiesMember" xlink:to="lab_psa_AcquisitionOfSelfStorageFacilitiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPreferredStockCash_019e1df9-29ec-7cbf-a630-321254e98f2c_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPreferredStockCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred share dividends</link:label>
    <link:label id="lab_us-gaap_DividendsPreferredStockCash_label_en-US" xlink:label="lab_us-gaap_DividendsPreferredStockCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Preferred Stock, Cash</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPreferredStockCash" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsPreferredStockCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPreferredStockCash" xlink:to="lab_us-gaap_DividendsPreferredStockCash" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019e1df9-2898-74a1-be59-00467c5ee61c_terseLabel_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_label_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:to="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockDividendRatePercentage_019e1df9-2898-78d8-82cf-1f50493c0223_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend Rate</link:label>
    <link:label id="lab_us-gaap_PreferredStockDividendRatePercentage_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Dividend Rate, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendRatePercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockDividendRatePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendRatePercentage" xlink:to="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeriesGPreferredStockMember_019e1df9-295c-7e94-923c-2dd8f9199008_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesGPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series G Preferred Stock</link:label>
    <link:label id="lab_us-gaap_SeriesGPreferredStockMember_019e1df9-295c-712c-84f9-7fdbb09681e0_verboseLabel_en-US" xlink:label="lab_us-gaap_SeriesGPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series G</link:label>
    <link:label id="lab_us-gaap_SeriesGPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesGPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series G Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesGPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesGPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesGPreferredStockMember" xlink:to="lab_us-gaap_SeriesGPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_terseLabel_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs)</link:label>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_label_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockAppreciationRightsSARSMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockAppreciationRightsSARSMember" xlink:to="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentBuildingAndBuildingImprovements_019e1df9-2898-78b7-bd07-5b6db0949073_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings</link:label>
    <link:label id="lab_us-gaap_InvestmentBuildingAndBuildingImprovements_label_en-US" xlink:label="lab_us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Building and Building Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentBuildingAndBuildingImprovements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:to="lab_us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NumberOfExtensions_019e1df9-2898-7ead-8a06-b8e005558dd0_terseLabel_en-US" xlink:label="lab_psa_NumberOfExtensions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of extensions</link:label>
    <link:label id="lab_psa_NumberOfExtensions_label_en-US" xlink:label="lab_psa_NumberOfExtensions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Extensions</link:label>
    <link:label id="lab_psa_NumberOfExtensions_documentation_en-US" xlink:label="lab_psa_NumberOfExtensions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Extensions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NumberOfExtensions" xlink:href="psa-20260630.xsd#psa_NumberOfExtensions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NumberOfExtensions" xlink:to="lab_psa_NumberOfExtensions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_019e1df9-29ec-7bb9-9fa4-eb5e49f0c17c_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate spread (in percent)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_019e1df9-29ec-78b9-a45f-53161b35624e_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest rate spread (in percent)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuableEntitySharesIssuedPerAcquireeShare_019f84cf-646a-79e5-8137-d4d3d3749232_terseLabel_en-US" xlink:label="lab_psa_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuableEntitySharesIssuedPerAcquireeShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business combination, consideration transferred, equity interests issued and issuable, entity shares issued per acquiree share (in shares)</link:label>
    <link:label id="lab_psa_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuableEntitySharesIssuedPerAcquireeShare_label_en-US" xlink:label="lab_psa_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuableEntitySharesIssuedPerAcquireeShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Entity Shares Issued Per Acquiree Share</link:label>
    <link:label id="lab_psa_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuableEntitySharesIssuedPerAcquireeShare_documentation_en-US" xlink:label="lab_psa_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuableEntitySharesIssuedPerAcquireeShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Entity Shares Issued Per Acquiree Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuableEntitySharesIssuedPerAcquireeShare" xlink:href="psa-20260630.xsd#psa_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuableEntitySharesIssuedPerAcquireeShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuableEntitySharesIssuedPerAcquireeShare" xlink:to="lab_psa_BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuableEntitySharesIssuedPerAcquireeShare" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CityAreaCode_019e1df9-29ec-787b-b22d-e8367c30b68f_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:label id="lab_dei_CityAreaCode_label_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CityAreaCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CityAreaCode" xlink:to="lab_dei_CityAreaCode" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_019e1df9-29ec-7783-ae5e-7b5ee9da24f4_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Loss</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AOCI Attributable to Parent [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueNovember92028Member_019e1df9-29ec-73f6-bcaf-bf20e42adac9_terseLabel_en-US" xlink:label="lab_psa_NotesDueNovember92028Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due November 9, 2028</link:label>
    <link:label id="lab_psa_NotesDueNovember92028Member_label_en-US" xlink:label="lab_psa_NotesDueNovember92028Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due November 9, 2028 [Member]</link:label>
    <link:label id="lab_psa_NotesDueNovember92028Member_documentation_en-US" xlink:label="lab_psa_NotesDueNovember92028Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due November 9, 2028</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueNovember92028Member" xlink:href="psa-20260630.xsd#psa_NotesDueNovember92028Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueNovember92028Member" xlink:to="lab_psa_NotesDueNovember92028Member" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentInformationTable_019e1df9-295c-7b39-87f3-633b610f9dc7_terseLabel_en-US" xlink:label="lab_dei_DocumentInformationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:label id="lab_dei_DocumentInformationTable_label_en-US" xlink:label="lab_dei_DocumentInformationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentInformationTable" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentInformationTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentInformationTable" xlink:to="lab_dei_DocumentInformationTable" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DealContingentSwapMember_019e1df9-295c-710a-b789-6b78ffede4ce_terseLabel_en-US" xlink:label="lab_psa_DealContingentSwapMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deal Contingent Swap</link:label>
    <link:label id="lab_psa_DealContingentSwapMember_label_en-US" xlink:label="lab_psa_DealContingentSwapMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deal Contingent Swap [Member]</link:label>
    <link:label id="lab_psa_DealContingentSwapMember_documentation_en-US" xlink:label="lab_psa_DealContingentSwapMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deal Contingent Swap</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_DealContingentSwapMember" xlink:href="psa-20260630.xsd#psa_DealContingentSwapMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_DealContingentSwapMember" xlink:to="lab_psa_DealContingentSwapMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllIndividualsMember_terseLabel_en-US" xlink:label="lab_ecd_AllIndividualsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Individuals</link:label>
    <link:label id="lab_ecd_AllIndividualsMember_label_en-US" xlink:label="lab_ecd_AllIndividualsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Individuals [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllIndividualsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllIndividualsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllIndividualsMember" xlink:to="lab_ecd_AllIndividualsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DevelopmentInProcessCostsIncurred_019e1df9-29ec-7023-a71b-7ba27f6e5fa7_terseLabel_en-US" xlink:label="lab_psa_DevelopmentInProcessCostsIncurred" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Costs incurred to develop and expand real estate facilities</link:label>
    <link:label id="lab_psa_DevelopmentInProcessCostsIncurred_label_en-US" xlink:label="lab_psa_DevelopmentInProcessCostsIncurred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Development In Process, Costs Incurred</link:label>
    <link:label id="lab_psa_DevelopmentInProcessCostsIncurred_documentation_en-US" xlink:label="lab_psa_DevelopmentInProcessCostsIncurred" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Development In Process, Costs Incurred</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_DevelopmentInProcessCostsIncurred" xlink:href="psa-20260630.xsd#psa_DevelopmentInProcessCostsIncurred"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_DevelopmentInProcessCostsIncurred" xlink:to="lab_psa_DevelopmentInProcessCostsIncurred" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_019e1df9-2898-78b1-9c6e-69be1d31b622_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Events</link:label>
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsTextBlock" xlink:to="lab_us-gaap_SubsequentEventsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryIndName_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryIndName_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryIndName" xlink:to="lab_ecd_ForgoneRecoveryIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_019e1df9-2898-7699-8786-d40282162dc0_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation recognition period (in years)</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonGaapMeasureDescriptionTextBlock_terseLabel_en-US" xlink:label="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-GAAP Measure Description</link:label>
    <link:label id="lab_ecd_NonGaapMeasureDescriptionTextBlock_label_en-US" xlink:label="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-GAAP Measure Description [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonGaapMeasureDescriptionTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonGaapMeasureDescriptionTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonGaapMeasureDescriptionTextBlock" xlink:to="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementLineItems_019e1df9-295c-7189-b605-99ce38c36d47_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:label id="lab_us-gaap_StatementLineItems_label_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems" xlink:to="lab_us-gaap_StatementLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Assets_019e1df9-2898-7daf-ac80-736e60c23a64_totalLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_us-gaap_Assets_label_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Assets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets" xlink:to="lab_us-gaap_Assets" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityDomain_019e1df9-295c-7390-aedd-9e9eb98ba94f_terseLabel_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:label id="lab_dei_EntityDomain_label_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityDomain" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityDomain" xlink:to="lab_dei_EntityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeAmountsAttributableToReportingEntityDisclosuresAbstract_019e1df9-295d-7159-95ef-c92df354ea52_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeAmountsAttributableToReportingEntityDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allocation of net income to:</link:label>
    <link:label id="lab_us-gaap_IncomeAmountsAttributableToReportingEntityDisclosuresAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeAmountsAttributableToReportingEntityDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Amounts Attributable to Parent, Disclosures [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeAmountsAttributableToReportingEntityDisclosuresAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeAmountsAttributableToReportingEntityDisclosuresAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeAmountsAttributableToReportingEntityDisclosuresAbstract" xlink:to="lab_us-gaap_IncomeAmountsAttributableToReportingEntityDisclosuresAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesIssued_019e1df9-29ec-764e-8284-f2aed92bb315_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesIssued" xlink:to="lab_us-gaap_PreferredStockSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingSegmentsMember_019e1df9-29ec-7c88-b20f-0f23395c97bf_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Segments</link:label>
    <link:label id="lab_us-gaap_OperatingSegmentsMember_label_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Segments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingSegmentsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingSegmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingSegmentsMember" xlink:to="lab_us-gaap_OperatingSegmentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_019e1df9-29ec-7b7f-9caf-357bdb4e39c8_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Share-Based Compensation Expense</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:to="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_TenantIndividualInsuranceLimitMaximum_019e1df9-295d-77f3-8b28-5062029e76ab_terseLabel_en-US" xlink:label="lab_psa_TenantIndividualInsuranceLimitMaximum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant insurance program against claims, maximum amount</link:label>
    <link:label id="lab_psa_TenantIndividualInsuranceLimitMaximum_label_en-US" xlink:label="lab_psa_TenantIndividualInsuranceLimitMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenant Individual Insurance Limit Maximum</link:label>
    <link:label id="lab_psa_TenantIndividualInsuranceLimitMaximum_documentation_en-US" xlink:label="lab_psa_TenantIndividualInsuranceLimitMaximum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The maximum individual limit amount offered under our tenant reinsurance program for goods stored by tenants at our self-storage facilities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_TenantIndividualInsuranceLimitMaximum" xlink:href="psa-20260630.xsd#psa_TenantIndividualInsuranceLimitMaximum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_TenantIndividualInsuranceLimitMaximum" xlink:to="lab_psa_TenantIndividualInsuranceLimitMaximum" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_OperatingPartnershipUnitsMember_019f91f9-a331-7333-b77a-772cfb9fcc6e_terseLabel_en-US" xlink:label="lab_psa_OperatingPartnershipUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">OP Units</link:label>
    <link:label id="lab_psa_OperatingPartnershipUnitsMember_label_en-US" xlink:label="lab_psa_OperatingPartnershipUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Partnership Units [Member]</link:label>
    <link:label id="lab_psa_OperatingPartnershipUnitsMember_documentation_en-US" xlink:label="lab_psa_OperatingPartnershipUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Operating Partnership Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_OperatingPartnershipUnitsMember" xlink:href="psa-20260630.xsd#psa_OperatingPartnershipUnitsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_OperatingPartnershipUnitsMember" xlink:to="lab_psa_OperatingPartnershipUnitsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_019e1df9-2898-7a56-9614-bb9dc9b32f9d_verboseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Share-Based Compensation</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_PublicStorageMember_019e1df9-295d-7617-807e-c769accf6dc4_terseLabel_en-US" xlink:label="lab_psa_PublicStorageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Public Storage</link:label>
    <link:label id="lab_psa_PublicStorageMember_label_en-US" xlink:label="lab_psa_PublicStorageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Storage [Member]</link:label>
    <link:label id="lab_psa_PublicStorageMember_documentation_en-US" xlink:label="lab_psa_PublicStorageMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Public Storage [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_PublicStorageMember" xlink:href="psa-20260630.xsd#psa_PublicStorageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_PublicStorageMember" xlink:to="lab_psa_PublicStorageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear_019e1df9-295d-74ca-9cdd-39147e611f99_terseLabel_en-US" xlink:label="lab_us-gaap_ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Construction commitments 2026</link:label>
    <link:label id="lab_us-gaap_ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contractual Obligation, to be Paid, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear" xlink:to="lab_us-gaap_ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_019e1df9-29ec-7cd5-994a-e35afc40c06c_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NatureOfOperations_019e1df9-295d-70ee-88b3-bb89c8e77fac_verboseLabel_en-US" xlink:label="lab_us-gaap_NatureOfOperations" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Description of the Business</link:label>
    <link:label id="lab_us-gaap_NatureOfOperations_label_en-US" xlink:label="lab_us-gaap_NatureOfOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nature of Operations [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NatureOfOperations" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NatureOfOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NatureOfOperations" xlink:to="lab_us-gaap_NatureOfOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoMember_terseLabel_en-US" xlink:label="lab_ecd_PeoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO</link:label>
    <link:label id="lab_ecd_PeoMember_label_en-US" xlink:label="lab_ecd_PeoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoMember" xlink:to="lab_ecd_PeoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_019e1df9-295c-7411-8d9a-737035b3039b_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ContractualObligationDueInSecondYear_019e1df9-29ec-7185-9b33-2d7bf1879855_terseLabel_en-US" xlink:label="lab_us-gaap_ContractualObligationDueInSecondYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Construction commitments 2028</link:label>
    <link:label id="lab_us-gaap_ContractualObligationDueInSecondYear_label_en-US" xlink:label="lab_us-gaap_ContractualObligationDueInSecondYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contractual Obligation, to be Paid, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractualObligationDueInSecondYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ContractualObligationDueInSecondYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ContractualObligationDueInSecondYear" xlink:to="lab_us-gaap_ContractualObligationDueInSecondYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockRedemptionDate_019e1df9-29ec-778a-9009-bddf33b11eaa_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockRedemptionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earliest Redemption Date</link:label>
    <link:label id="lab_us-gaap_PreferredStockRedemptionDate_label_en-US" xlink:label="lab_us-gaap_PreferredStockRedemptionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Redemption Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockRedemptionDate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockRedemptionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockRedemptionDate" xlink:to="lab_us-gaap_PreferredStockRedemptionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_019e1df9-295d-74f8-80bb-b437f83d271c_terseLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based compensation expense</link:label>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_label_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AllocatedShareBasedCompensationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Goodwill_019e1df9-2898-73c3-9f22-70c4c0864bd2_totalLabel_en-US" xlink:label="lab_us-gaap_Goodwill" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Goodwill, net</link:label>
    <link:label id="lab_us-gaap_Goodwill_label_en-US" xlink:label="lab_us-gaap_Goodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Goodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Goodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Goodwill" xlink:to="lab_us-gaap_Goodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Violation of Home Country Law, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Violation of Home Country Law, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesNPreferredStockMember_019e1df9-29ec-748b-97cd-22b7153c3334_terseLabel_en-US" xlink:label="lab_psa_SeriesNPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series N Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesNPreferredStockMember_019e1df9-29ec-7268-960e-20a694673b1a_verboseLabel_en-US" xlink:label="lab_psa_SeriesNPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series N</link:label>
    <link:label id="lab_psa_SeriesNPreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesNPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series N Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesNPreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesNPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Outstanding nonredeemable series N preferred stock or outstanding series N preferred stock. Classified within stockholders' equity if nonredeemable or redeemable solely at the option of the issuer. Classified within temporary equity if redemption is outside the control of the issuer.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesNPreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesNPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesNPreferredStockMember" xlink:to="lab_psa_SeriesNPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTypeDomain_019e1df9-29ec-7f82-9934-0f235a30e4a2_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeDomain_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeDomain" xlink:to="lab_us-gaap_SubsequentEventTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RetainedEarningsMember_019e1df9-295c-7b51-94f8-919ffc0ac6fc_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsMember_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RetainedEarningsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsMember" xlink:to="lab_us-gaap_RetainedEarningsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevolvingCreditFacilityMember_019e1df9-29ec-7c0c-8726-30ad816c0c51_terseLabel_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility</link:label>
    <link:label id="lab_us-gaap_RevolvingCreditFacilityMember_label_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revolving Credit Facility [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevolvingCreditFacilityMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RevolvingCreditFacilityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevolvingCreditFacilityMember" xlink:to="lab_us-gaap_RevolvingCreditFacilityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_FacilitiesManagedForThirdPartiesMember_019e1df9-2898-7481-96f7-18541e3e70c6_terseLabel_en-US" xlink:label="lab_psa_FacilitiesManagedForThirdPartiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Facilities, Managed For Third Parties</link:label>
    <link:label id="lab_psa_FacilitiesManagedForThirdPartiesMember_label_en-US" xlink:label="lab_psa_FacilitiesManagedForThirdPartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Facilities, Managed For Third Parties [Member]</link:label>
    <link:label id="lab_psa_FacilitiesManagedForThirdPartiesMember_documentation_en-US" xlink:label="lab_psa_FacilitiesManagedForThirdPartiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Facilities, Managed For Third Parties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_FacilitiesManagedForThirdPartiesMember" xlink:href="psa-20260630.xsd#psa_FacilitiesManagedForThirdPartiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_FacilitiesManagedForThirdPartiesMember" xlink:to="lab_psa_FacilitiesManagedForThirdPartiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable_019e1df9-295d-711d-8124-997999ac2696_terseLabel_en-US" xlink:label="lab_psa_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net book value of real estate facilities securing notes payable</link:label>
    <link:label id="lab_psa_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable_label_en-US" xlink:label="lab_psa_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Book Value Of Real Estate Facilities Securing Notes Payable</link:label>
    <link:label id="lab_psa_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable_documentation_en-US" xlink:label="lab_psa_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net book value for the real estate facilities secured by the mortgage note payable at the end of the reporting period.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable" xlink:href="psa-20260630.xsd#psa_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable" xlink:to="lab_psa_NetBookValueOfRealEstateFacilitiesSecuringNotesPayable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ErrCompRecoveryTable_terseLabel_en-US" xlink:label="lab_ecd_ErrCompRecoveryTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Erroneously Awarded Compensation Recovery</link:label>
    <link:label id="lab_ecd_ErrCompRecoveryTable_label_en-US" xlink:label="lab_ecd_ErrCompRecoveryTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Erroneously Awarded Compensation Recovery [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ErrCompRecoveryTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ErrCompRecoveryTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ErrCompRecoveryTable" xlink:to="lab_ecd_ErrCompRecoveryTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_019e1df9-295d-791f-bfcc-b1557e85b2b6_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgDiscLineItems_label_en-US" xlink:label="lab_ecd_AwardTmgDiscLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Disclosures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgDiscLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgDiscLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgDiscLineItems" xlink:to="lab_ecd_AwardTmgDiscLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_019e1df9-29ec-70d0-87e3-c28b40dc1cc9_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Diluted (in USD per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareDiluted" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareDiluted"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareDiluted" xlink:to="lab_us-gaap_EarningsPerShareDiluted" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueNovember92031Member_019e1df9-2898-7ea3-bd5a-ca94ee185a2f_terseLabel_en-US" xlink:label="lab_psa_NotesDueNovember92031Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due November 9, 2031</link:label>
    <link:label id="lab_psa_NotesDueNovember92031Member_label_en-US" xlink:label="lab_psa_NotesDueNovember92031Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due November 9, 2031 [Member]</link:label>
    <link:label id="lab_psa_NotesDueNovember92031Member_documentation_en-US" xlink:label="lab_psa_NotesDueNovember92031Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due November 9, 2031</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueNovember92031Member" xlink:href="psa-20260630.xsd#psa_NotesDueNovember92031Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueNovember92031Member" xlink:to="lab_psa_NotesDueNovember92031Member" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCurrentReportingStatus_019e1df9-295c-776e-8bf9-2a90f60def3c_terseLabel_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:label id="lab_dei_EntityCurrentReportingStatus_label_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCurrentReportingStatus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCurrentReportingStatus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCurrentReportingStatus" xlink:to="lab_dei_EntityCurrentReportingStatus" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_019e1df9-2898-71b9-bd5c-056cebf20f5e_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash flows from (used in) financing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Financing Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TotalShareholderRtnAmt_terseLabel_en-US" xlink:label="lab_ecd_TotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Amount</link:label>
    <link:label id="lab_ecd_TotalShareholderRtnAmt_label_en-US" xlink:label="lab_ecd_TotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TotalShareholderRtnAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TotalShareholderRtnAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TotalShareholderRtnAmt" xlink:to="lab_ecd_TotalShareholderRtnAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueAugust12033Member_019e1df9-29ec-79a5-82c4-adba10c0489c_terseLabel_en-US" xlink:label="lab_psa_NotesDueAugust12033Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due August 1, 2033</link:label>
    <link:label id="lab_psa_NotesDueAugust12033Member_label_en-US" xlink:label="lab_psa_NotesDueAugust12033Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due August 1, 2033 [Member]</link:label>
    <link:label id="lab_psa_NotesDueAugust12033Member_documentation_en-US" xlink:label="lab_psa_NotesDueAugust12033Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due August 1 2033</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueAugust12033Member" xlink:href="psa-20260630.xsd#psa_NotesDueAugust12033Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueAugust12033Member" xlink:to="lab_psa_NotesDueAugust12033Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation_019e1df9-295c-7cc1-a4e6-415043524625_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Taxes withheld upon net share settlement of restricted share units</link:label>
    <link:label id="lab_us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:to="lab_us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_ParentNCIPortionMember_019e1df9-295c-7bf9-87a0-c157103d74dc_terseLabel_en-US" xlink:label="lab_psa_ParentNCIPortionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Parent, NCI Portion</link:label>
    <link:label id="lab_psa_ParentNCIPortionMember_label_en-US" xlink:label="lab_psa_ParentNCIPortionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Parent, NCI Portion [Member]</link:label>
    <link:label id="lab_psa_ParentNCIPortionMember_documentation_en-US" xlink:label="lab_psa_ParentNCIPortionMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Parent, NCI Portion</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_ParentNCIPortionMember" xlink:href="psa-20260630.xsd#psa_ParentNCIPortionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_ParentNCIPortionMember" xlink:to="lab_psa_ParentNCIPortionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgingLiabilitiesNoncurrent_019e1df9-295d-77a5-9241-50c4842a92b1_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_HedgingLiabilitiesNoncurrent" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Hedge accounting fair value adjustment</link:label>
    <link:label id="lab_us-gaap_HedgingLiabilitiesNoncurrent_label_en-US" xlink:label="lab_us-gaap_HedgingLiabilitiesNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Liabilities, Noncurrent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingLiabilitiesNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_HedgingLiabilitiesNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingLiabilitiesNoncurrent" xlink:to="lab_us-gaap_HedgingLiabilitiesNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstate_019e1df9-29ec-7e8c-b4eb-b2abdc0b8262_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstate" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisition of real estate facilities and intangible assets</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstate_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToAcquireRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireRealEstate" xlink:to="lab_us-gaap_PaymentsToAcquireRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_AccruedDevelopmentCostsAndCapitalExpendituresAbstract_019e1df9-29ec-7390-8106-b2718520e278_terseLabel_en-US" xlink:label="lab_psa_AccruedDevelopmentCostsAndCapitalExpendituresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Costs incurred during the period remaining unpaid at period end for:</link:label>
    <link:label id="lab_psa_AccruedDevelopmentCostsAndCapitalExpendituresAbstract_label_en-US" xlink:label="lab_psa_AccruedDevelopmentCostsAndCapitalExpendituresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Development Costs And Capital Expenditures [Abstract]</link:label>
    <link:label id="lab_psa_AccruedDevelopmentCostsAndCapitalExpendituresAbstract_documentation_en-US" xlink:label="lab_psa_AccruedDevelopmentCostsAndCapitalExpendituresAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accrued Development Costs And Capital Expenditures [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_AccruedDevelopmentCostsAndCapitalExpendituresAbstract" xlink:href="psa-20260630.xsd#psa_AccruedDevelopmentCostsAndCapitalExpendituresAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_AccruedDevelopmentCostsAndCapitalExpendituresAbstract" xlink:to="lab_psa_AccruedDevelopmentCostsAndCapitalExpendituresAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NumberOfThirdPartySelfStorageFacilitiesManaged_019e1df9-295d-70f6-bc32-63a359a14710_terseLabel_en-US" xlink:label="lab_psa_NumberOfThirdPartySelfStorageFacilitiesManaged" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of third-party self-storage facilities managed</link:label>
    <link:label id="lab_psa_NumberOfThirdPartySelfStorageFacilitiesManaged_label_en-US" xlink:label="lab_psa_NumberOfThirdPartySelfStorageFacilitiesManaged" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Third-Party Self-Storage Facilities Managed</link:label>
    <link:label id="lab_psa_NumberOfThirdPartySelfStorageFacilitiesManaged_documentation_en-US" xlink:label="lab_psa_NumberOfThirdPartySelfStorageFacilitiesManaged" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Third-Party Self-Storage Facilities Managed</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NumberOfThirdPartySelfStorageFacilitiesManaged" xlink:href="psa-20260630.xsd#psa_NumberOfThirdPartySelfStorageFacilitiesManaged"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NumberOfThirdPartySelfStorageFacilitiesManaged" xlink:to="lab_psa_NumberOfThirdPartySelfStorageFacilitiesManaged" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_019e1df9-2898-7ff0-946f-83315e873ecf_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization expense</link:label>
    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_label_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Amortization Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AmortizationOfIntangibleAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfIntangibleAssets" xlink:to="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_CapitalExpendituresToMaintainRealEstateFacilitiesRemainingUnpaidAtPeriodEnd_019e1df9-295c-7a93-9025-e43efeb54ad7_negatedTerseLabel_en-US" xlink:label="lab_psa_CapitalExpendituresToMaintainRealEstateFacilitiesRemainingUnpaidAtPeriodEnd" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures to maintain real estate facilities</link:label>
    <link:label id="lab_psa_CapitalExpendituresToMaintainRealEstateFacilitiesRemainingUnpaidAtPeriodEnd_label_en-US" xlink:label="lab_psa_CapitalExpendituresToMaintainRealEstateFacilitiesRemainingUnpaidAtPeriodEnd" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Expenditures To Maintain Real Estate Facilities Remaining Unpaid At Period End</link:label>
    <link:label id="lab_psa_CapitalExpendituresToMaintainRealEstateFacilitiesRemainingUnpaidAtPeriodEnd_documentation_en-US" xlink:label="lab_psa_CapitalExpendituresToMaintainRealEstateFacilitiesRemainingUnpaidAtPeriodEnd" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Expenditures To Maintain Real Estate Facilities Remaining Unpaid At Period End</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_CapitalExpendituresToMaintainRealEstateFacilitiesRemainingUnpaidAtPeriodEnd" xlink:href="psa-20260630.xsd#psa_CapitalExpendituresToMaintainRealEstateFacilitiesRemainingUnpaidAtPeriodEnd"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_CapitalExpendituresToMaintainRealEstateFacilitiesRemainingUnpaidAtPeriodEnd" xlink:to="lab_psa_CapitalExpendituresToMaintainRealEstateFacilitiesRemainingUnpaidAtPeriodEnd" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityNoteAbstract_019e1df9-295d-7957-8294-5641b80551f8_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Note [Abstract]</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityNoteAbstract_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Note [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityNoteAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityNoteAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityNoteAbstract" xlink:to="lab_us-gaap_StockholdersEquityNoteAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OwnershipDomain_019e1df9-295c-71ff-8444-4ae6361899de_terseLabel_en-US" xlink:label="lab_srt_OwnershipDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership [Domain]</link:label>
    <link:label id="lab_srt_OwnershipDomain_label_en-US" xlink:label="lab_srt_OwnershipDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OwnershipDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OwnershipDomain" xlink:to="lab_srt_OwnershipDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_019e1df9-295d-7a1c-89c2-2fade287de52_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile net income to net cash flows from operating activities:</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_019e1df9-295d-74e1-aacf-0bf91d8efea6_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_019e1df9-295c-7e72-8ee4-eef5d7cdbd55_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement [Abstract]</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_019e1df9-29ec-7cae-ba5a-49c8eff766eb_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueDecember152035Member_019e9047-cfac-7a95-b293-111bdb511d73_terseLabel_en-US" xlink:label="lab_psa_NotesDueDecember152035Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due December 15, 2035</link:label>
    <link:label id="lab_psa_NotesDueDecember152035Member_label_en-US" xlink:label="lab_psa_NotesDueDecember152035Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due December 15, 2035 [Member]</link:label>
    <link:label id="lab_psa_NotesDueDecember152035Member_documentation_en-US" xlink:label="lab_psa_NotesDueDecember152035Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due December 15, 2035</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueDecember152035Member" xlink:href="psa-20260630.xsd#psa_NotesDueDecember152035Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueDecember152035Member" xlink:to="lab_psa_NotesDueDecember152035Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_019e1df9-295c-793d-b130-d3226aaf006d_terseLabel_en-US" xlink:label="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership interest (in percent)</link:label>
    <link:label id="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_label_en-US" xlink:label="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest" xlink:to="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Footnote</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjFnTextBlock_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsAdjFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjFnTextBlock" xlink:to="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock_019e1df9-2898-7e58-837d-b24fc4e358bc_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill and Other Intangible Assets</link:label>
    <link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset and Goodwill [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:to="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardUndrlygSecuritiesAmt_terseLabel_en-US" xlink:label="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Underlying Securities</link:label>
    <link:label id="lab_ecd_AwardUndrlygSecuritiesAmt_label_en-US" xlink:label="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Underlying Securities Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardUndrlygSecuritiesAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardUndrlygSecuritiesAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardUndrlygSecuritiesAmt" xlink:to="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_019e1df9-29ec-7ba2-8cd3-394fe020b69e_negatedLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Allocation to noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions_019e1df9-2898-747d-b97b-667c1b0dc24e_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of common shares in connection with share-based compensation</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds, Issuance of Shares, Share-Based Payment Arrangement, Including Option Exercised</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockMember_019e1df9-295c-7b1c-b63f-8640b4f17f4f_verboseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Cumulative Preferred Shares</link:label>
    <link:label id="lab_us-gaap_PreferredStockMember_019e1df9-295c-7572-8de6-2b8e610a11fe_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative Preferred Shares</link:label>
    <link:label id="lab_us-gaap_PreferredStockMember_label_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockMember" xlink:to="lab_us-gaap_PreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_AncillaryOperationsMember_019e1df9-295c-79d1-a24c-03ec655985bf_terseLabel_en-US" xlink:label="lab_psa_AncillaryOperationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ancillary operations</link:label>
    <link:label id="lab_psa_AncillaryOperationsMember_019e1df9-295c-7ddb-bb83-395cdddb9d2c_verboseLabel_en-US" xlink:label="lab_psa_AncillaryOperationsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Ancillary Operations</link:label>
    <link:label id="lab_psa_AncillaryOperationsMember_label_en-US" xlink:label="lab_psa_AncillaryOperationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ancillary Operations [Member]</link:label>
    <link:label id="lab_psa_AncillaryOperationsMember_documentation_en-US" xlink:label="lab_psa_AncillaryOperationsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Ancillary Operations [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_AncillaryOperationsMember" xlink:href="psa-20260630.xsd#psa_AncillaryOperationsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_AncillaryOperationsMember" xlink:to="lab_psa_AncillaryOperationsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RepairsAndMaintenanceMember_019e1df9-29ec-7041-a495-4b9de0b0ddca_terseLabel_en-US" xlink:label="lab_psa_RepairsAndMaintenanceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repairs and maintenance</link:label>
    <link:label id="lab_psa_RepairsAndMaintenanceMember_label_en-US" xlink:label="lab_psa_RepairsAndMaintenanceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repairs And Maintenance [Member]</link:label>
    <link:label id="lab_psa_RepairsAndMaintenanceMember_documentation_en-US" xlink:label="lab_psa_RepairsAndMaintenanceMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Repairs And Maintenance</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RepairsAndMaintenanceMember" xlink:href="psa-20260630.xsd#psa_RepairsAndMaintenanceMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RepairsAndMaintenanceMember" xlink:to="lab_psa_RepairsAndMaintenanceMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_019e1df9-295d-7d56-8d3c-7ec138362fcc_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Reporting [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_019e1df9-2898-7a75-bfac-5e4ca2a64bea_verboseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Maturities of Notes Payable</link:label>
    <link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Maturities of Long-Term Debt [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_ShurgardSelfStorageSaMember_019e1df9-295d-7d02-8efc-23a4b627c163_terseLabel_en-US" xlink:label="lab_psa_ShurgardSelfStorageSaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shurgard Self Storage Sa</link:label>
    <link:label id="lab_psa_ShurgardSelfStorageSaMember_label_en-US" xlink:label="lab_psa_ShurgardSelfStorageSaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shurgard Self Storage Sa [Member]</link:label>
    <link:label id="lab_psa_ShurgardSelfStorageSaMember_documentation_en-US" xlink:label="lab_psa_ShurgardSelfStorageSaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Shurgard Self Storage SA [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_ShurgardSelfStorageSaMember" xlink:href="psa-20260630.xsd#psa_ShurgardSelfStorageSaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_ShurgardSelfStorageSaMember" xlink:to="lab_psa_ShurgardSelfStorageSaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_019e1df9-295c-742e-8ddd-cc891b2ab062_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>
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    <link:label id="lab_psa_NumberOfTranches_019e1df9-2898-798b-ae18-5f27cfeb8311_terseLabel_en-US" xlink:label="lab_psa_NumberOfTranches" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of tranches</link:label>
    <link:label id="lab_psa_NumberOfTranches_label_en-US" xlink:label="lab_psa_NumberOfTranches" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Tranches</link:label>
    <link:label id="lab_psa_NumberOfTranches_documentation_en-US" xlink:label="lab_psa_NumberOfTranches" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of Tranches</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NumberOfTranches" xlink:href="psa-20260630.xsd#psa_NumberOfTranches"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NumberOfTranches" xlink:to="lab_psa_NumberOfTranches" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_019e1df9-295d-7e49-890a-4229ccd9bdd9_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockAxis_019f5f70-61a2-7a6e-9bf8-bc1470bc648f_terseLabel_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of Stock [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockAxis_label_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsidiarySaleOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsidiarySaleOfStockAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsidiarySaleOfStockAxis" xlink:to="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_019e1df9-2898-7b98-8c51-b119bde13083_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllTradingArrangementsMember_terseLabel_en-US" xlink:label="lab_ecd_AllTradingArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Trading Arrangements</link:label>
    <link:label id="lab_ecd_AllTradingArrangementsMember_label_en-US" xlink:label="lab_ecd_AllTradingArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Trading Arrangements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllTradingArrangementsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllTradingArrangementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllTradingArrangementsMember" xlink:to="lab_ecd_AllTradingArrangementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OtherPerfMeasureAmt_terseLabel_en-US" xlink:label="lab_ecd_OtherPerfMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Performance Measure, Amount</link:label>
    <link:label id="lab_ecd_OtherPerfMeasureAmt_label_en-US" xlink:label="lab_ecd_OtherPerfMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Performance Measure, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OtherPerfMeasureAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OtherPerfMeasureAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OtherPerfMeasureAmt" xlink:to="lab_ecd_OtherPerfMeasureAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMnpiCnsdrdFlag_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Considered</link:label>
    <link:label id="lab_ecd_AwardTmgMnpiCnsdrdFlag_label_en-US" xlink:label="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Considered [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMnpiCnsdrdFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgMnpiCnsdrdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMnpiCnsdrdFlag" xlink:to="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingIncomeLoss_019e1df9-295d-77b5-bad6-652db6b891cb_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Operating income</link:label>
    <link:label id="lab_us-gaap_OperatingIncomeLoss_label_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Income (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingIncomeLoss" xlink:to="lab_us-gaap_OperatingIncomeLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DelayedDrawTermLoanMember_019f25a1-f69f-77f9-8835-f5b8b5d9868c_terseLabel_en-US" xlink:label="lab_us-gaap_DelayedDrawTermLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Delayed Draw Term Loan</link:label>
    <link:label id="lab_us-gaap_DelayedDrawTermLoanMember_label_en-US" xlink:label="lab_us-gaap_DelayedDrawTermLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Delayed Draw Term Loan (DDTL) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DelayedDrawTermLoanMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DelayedDrawTermLoanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DelayedDrawTermLoanMember" xlink:to="lab_us-gaap_DelayedDrawTermLoanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueJanuary152029Member_019e1df9-295c-7a50-9f1d-13e8a680f78b_terseLabel_en-US" xlink:label="lab_psa_NotesDueJanuary152029Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due January 15, 2029</link:label>
    <link:label id="lab_psa_NotesDueJanuary152029Member_label_en-US" xlink:label="lab_psa_NotesDueJanuary152029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due January 15, 2029 [Member]</link:label>
    <link:label id="lab_psa_NotesDueJanuary152029Member_documentation_en-US" xlink:label="lab_psa_NotesDueJanuary152029Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due January 15, 2029</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueJanuary152029Member" xlink:href="psa-20260630.xsd#psa_NotesDueJanuary152029Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueJanuary152029Member" xlink:to="lab_psa_NotesDueJanuary152029Member" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_019e1df9-29ec-7eef-93c7-3bd7fd690efc_terseLabel_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_label_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CurrentFiscalYearEndDate" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CurrentFiscalYearEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CurrentFiscalYearEndDate" xlink:to="lab_dei_CurrentFiscalYearEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_Mr.HavnerMember_019e1df9-295d-7103-a1d8-4dac1856684a_terseLabel_en-US" xlink:label="lab_psa_Mr.HavnerMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mr. Havner</link:label>
    <link:label id="lab_psa_Mr.HavnerMember_label_en-US" xlink:label="lab_psa_Mr.HavnerMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mr. Havner [Member]</link:label>
    <link:label id="lab_psa_Mr.HavnerMember_documentation_en-US" xlink:label="lab_psa_Mr.HavnerMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mr. Havner</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_Mr.HavnerMember" xlink:href="psa-20260630.xsd#psa_Mr.HavnerMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_Mr.HavnerMember" xlink:to="lab_psa_Mr.HavnerMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfDebt_019e1df9-2898-7fdd-be45-808785484743_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net proceeds from offering</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfDebt_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromIssuanceOfDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfDebt" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_IntangibleAssetFiniteLivedEstimatedAmortizationExpenseAfterYearFour_019e1df9-29ec-7bbb-9702-315beabbec9f_terseLabel_en-US" xlink:label="lab_psa_IntangibleAssetFiniteLivedEstimatedAmortizationExpenseAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_psa_IntangibleAssetFiniteLivedEstimatedAmortizationExpenseAfterYearFour_label_en-US" xlink:label="lab_psa_IntangibleAssetFiniteLivedEstimatedAmortizationExpenseAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, After Year Four</link:label>
    <link:label id="lab_psa_IntangibleAssetFiniteLivedEstimatedAmortizationExpenseAfterYearFour_documentation_en-US" xlink:label="lab_psa_IntangibleAssetFiniteLivedEstimatedAmortizationExpenseAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, After Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_IntangibleAssetFiniteLivedEstimatedAmortizationExpenseAfterYearFour" xlink:href="psa-20260630.xsd#psa_IntangibleAssetFiniteLivedEstimatedAmortizationExpenseAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_IntangibleAssetFiniteLivedEstimatedAmortizationExpenseAfterYearFour" xlink:to="lab_psa_IntangibleAssetFiniteLivedEstimatedAmortizationExpenseAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoAvgTotalCompAmt_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoAvgTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Total Compensation Amount</link:label>
    <link:label id="lab_ecd_NonPeoNeoAvgTotalCompAmt_label_en-US" xlink:label="lab_ecd_NonPeoNeoAvgTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Total Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoAvgTotalCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonPeoNeoAvgTotalCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoAvgTotalCompAmt" xlink:to="lab_ecd_NonPeoNeoAvgTotalCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationDisclosureTextBlock_019e1df9-29ec-7ec6-b6c9-eaf31b38d8bf_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BusinessCombinationDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:to="lab_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NumberOfStatesInRealEstate_019e1df9-2898-7557-8689-516c53df5f4f_terseLabel_en-US" xlink:label="lab_psa_NumberOfStatesInRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of states in real estate</link:label>
    <link:label id="lab_psa_NumberOfStatesInRealEstate_label_en-US" xlink:label="lab_psa_NumberOfStatesInRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of States In Real Estate</link:label>
    <link:label id="lab_psa_NumberOfStatesInRealEstate_documentation_en-US" xlink:label="lab_psa_NumberOfStatesInRealEstate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of States In Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NumberOfStatesInRealEstate" xlink:href="psa-20260630.xsd#psa_NumberOfStatesInRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NumberOfStatesInRealEstate" xlink:to="lab_psa_NumberOfStatesInRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionGainLossUnrealizedAfterTax_019e1df9-2898-7b1c-b26a-70e8ec4acfd3_negatedLabel_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionGainLossUnrealizedAfterTax" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Unrealized foreign currency exchange (gain) loss</link:label>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionGainLossUnrealizedAfterTax_label_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionGainLossUnrealizedAfterTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrealized Gain (Loss), Foreign Currency Transaction, after Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossUnrealizedAfterTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ForeignCurrencyTransactionGainLossUnrealizedAfterTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignCurrencyTransactionGainLossUnrealizedAfterTax" xlink:to="lab_us-gaap_ForeignCurrencyTransactionGainLossUnrealizedAfterTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestructuringReserveRollForward_019e1df9-2898-7884-8628-1a68f868f702_terseLabel_en-US" xlink:label="lab_us-gaap_RestructuringReserveRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restructuring Reserve [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_RestructuringReserveRollForward_label_en-US" xlink:label="lab_us-gaap_RestructuringReserveRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restructuring Reserve [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestructuringReserveRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestructuringReserveRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestructuringReserveRollForward" xlink:to="lab_us-gaap_RestructuringReserveRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year</link:label>
    <link:label id="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_label_en-US" xlink:label="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:to="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_019e1df9-29ec-79e3-b619-79bb0ad4177b_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions to common shareholders and restricted share unitholders (in USD per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_label_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Dividends, Per Share, Declared</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockDividendsPerShareDeclared"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareDeclared" xlink:to="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFileNumber_019e1df9-295c-7555-98c8-2da48cb2e5f8_terseLabel_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:label id="lab_dei_EntityFileNumber_label_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFileNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFileNumber" xlink:to="lab_dei_EntityFileNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Rule10b51ArrAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Adopted</link:label>
    <link:label id="lab_ecd_Rule10b51ArrAdoptedFlag_label_en-US" xlink:label="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Rule10b51ArrAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_Rule10b51ArrAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Rule10b51ArrAdoptedFlag" xlink:to="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_019e1df9-29ec-70eb-8b86-f09da0878a9c_verboseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Issuance of common shares in connection with share-based compensation</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidExceedingAmountForIndividualEvent_019e1df9-29ec-7f10-805d-0f869a51a73b_terseLabel_en-US" xlink:label="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidExceedingAmountForIndividualEvent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Third-party insurance coverage for claims paid exceeding amount for individual event</link:label>
    <link:label id="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidExceedingAmountForIndividualEvent_label_en-US" xlink:label="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidExceedingAmountForIndividualEvent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Third-Party Insurance Coverage For Claims Paid Exceeding Amount For Individual Event</link:label>
    <link:label id="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidExceedingAmountForIndividualEvent_documentation_en-US" xlink:label="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidExceedingAmountForIndividualEvent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The minimum amount for which claims paid for individual events must exceed under our third-party insurance coverage.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_ThirdPartyInsuranceCoverageForClaimsPaidExceedingAmountForIndividualEvent" xlink:href="psa-20260630.xsd#psa_ThirdPartyInsuranceCoverageForClaimsPaidExceedingAmountForIndividualEvent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_ThirdPartyInsuranceCoverageForClaimsPaidExceedingAmountForIndividualEvent" xlink:to="lab_psa_ThirdPartyInsuranceCoverageForClaimsPaidExceedingAmountForIndividualEvent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_019e1df9-29ec-77ca-b99b-4efe10d3f8f6_negatedLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:to="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NotesAndLoansPayable_019e1df9-295c-7bef-b078-66b5d609317e_netLabel_en-US" xlink:label="lab_us-gaap_NotesAndLoansPayable" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Notes payable</link:label>
    <link:label id="lab_us-gaap_NotesAndLoansPayable_label_en-US" xlink:label="lab_us-gaap_NotesAndLoansPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes and Loans Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NotesAndLoansPayable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NotesAndLoansPayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesAndLoansPayable" xlink:to="lab_us-gaap_NotesAndLoansPayable" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostTransfersDispositionsAndRetirementsActivities_019e1df9-295d-77a3-976c-c93a57ee80d4_negatedTerseLabel_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostTransfersDispositionsAndRetirementsActivities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Transfers, dispositions, and retirements, net</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostTransfersDispositionsAndRetirementsActivities_label_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostTransfersDispositionsAndRetirementsActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property At Cost, Transfers, Dispositions, And Retirements, Activities</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostTransfersDispositionsAndRetirementsActivities_documentation_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostTransfersDispositionsAndRetirementsActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property At Cost, Transfers, Dispositions, And Retirements, Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RealEstateInvestmentPropertyAtCostTransfersDispositionsAndRetirementsActivities" xlink:href="psa-20260630.xsd#psa_RealEstateInvestmentPropertyAtCostTransfersDispositionsAndRetirementsActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RealEstateInvestmentPropertyAtCostTransfersDispositionsAndRetirementsActivities" xlink:to="lab_psa_RealEstateInvestmentPropertyAtCostTransfersDispositionsAndRetirementsActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RecoveryOfErrCompDisclosureLineItems_label_en-US" xlink:label="lab_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recovery of Erroneously Awarded Compensation Disclosure [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RecoveryOfErrCompDisclosureLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:to="lab_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_019e1df9-295c-7b9c-874d-7d0aa51f0558_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued" xlink:to="lab_us-gaap_CommonStockSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MeasureAxis_terseLabel_en-US" xlink:label="lab_ecd_MeasureAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measure:</link:label>
    <link:label id="lab_ecd_MeasureAxis_label_en-US" xlink:label="lab_ecd_MeasureAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measure [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MeasureAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MeasureAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MeasureAxis" xlink:to="lab_ecd_MeasureAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesSPreferredStockMember_019e1df9-29ec-7f6a-91bf-123bebed2498_terseLabel_en-US" xlink:label="lab_psa_SeriesSPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series S Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesSPreferredStockMember_019e1df9-29ec-7466-b06c-ea600a6388d7_verboseLabel_en-US" xlink:label="lab_psa_SeriesSPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series S</link:label>
    <link:label id="lab_psa_SeriesSPreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesSPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series S Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesSPreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesSPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series S Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesSPreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesSPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesSPreferredStockMember" xlink:to="lab_psa_SeriesSPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DevelopmentInProcess_019e1df9-2898-7cff-b8b2-cec52714f3b3_terseLabel_en-US" xlink:label="lab_us-gaap_DevelopmentInProcess" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Construction in process</link:label>
    <link:label id="lab_us-gaap_DevelopmentInProcess_019e1df9-2898-7886-9bb6-36a91fb538e3_periodStartLabel_en-US" xlink:label="lab_us-gaap_DevelopmentInProcess" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance (Construction in process)</link:label>
    <link:label id="lab_us-gaap_DevelopmentInProcess_019e1df9-2898-77cc-ab40-2592fe818935_periodEndLabel_en-US" xlink:label="lab_us-gaap_DevelopmentInProcess" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance (Construction in process)</link:label>
    <link:label id="lab_us-gaap_DevelopmentInProcess_label_en-US" xlink:label="lab_us-gaap_DevelopmentInProcess" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Development in Process</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DevelopmentInProcess" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DevelopmentInProcess"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DevelopmentInProcess" xlink:to="lab_us-gaap_DevelopmentInProcess" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_019e1df9-295d-7874-89dd-90812cef503f_terseLabel_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_label_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementEquityComponentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementEquityComponentsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementEquityComponentsAxis" xlink:to="lab_us-gaap_StatementEquityComponentsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyMember_019e1df9-295c-76be-8d88-b8f83f99ec66_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party</link:label>
    <link:label id="lab_us-gaap_RelatedPartyMember_label_en-US" xlink:label="lab_us-gaap_RelatedPartyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyMember" xlink:to="lab_us-gaap_RelatedPartyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ProductsAndServicesDomain_019e1df9-29ec-799a-9fba-d925f29feba1_terseLabel_en-US" xlink:label="lab_srt_ProductsAndServicesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Product and Service [Domain]</link:label>
    <link:label id="lab_srt_ProductsAndServicesDomain_label_en-US" xlink:label="lab_srt_ProductsAndServicesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Product and Service [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ProductsAndServicesDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ProductsAndServicesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ProductsAndServicesDomain" xlink:to="lab_srt_ProductsAndServicesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_019e1df9-295d-7354-8c02-e359489503f7_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_label_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ClassOfStockLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockLineItems" xlink:to="lab_us-gaap_ClassOfStockLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxesPaidNet_019e1df9-29ec-7323-b77b-75687578478d_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaidNet" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Cash paid for income taxes, net of refunds</link:label>
    <link:label id="lab_us-gaap_IncomeTaxesPaidNet_label_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Paid, after Refund Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxesPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxesPaidNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxesPaidNet" xlink:to="lab_us-gaap_IncomeTaxesPaidNet" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_019e1df9-29ec-7023-b497-2d3578d86036_terseLabel_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_label_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInteractiveDataCurrent" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityInteractiveDataCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInteractiveDataCurrent" xlink:to="lab_dei_EntityInteractiveDataCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_019e1df9-295c-7b29-9e6c-80c8d8b8a6ad_negatedLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Allocation to noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Other Measure</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Other Measure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsOtherMeasureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_019e1df9-295d-7cdc-a925-55e9736d3c85_terseLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain (Loss) on sale of real estate</link:label>
    <link:label id="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_019e1df9-295d-7098-9def-3fd1fe441bcb_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of real estate</link:label>
    <link:label id="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_label_en-US" xlink:label="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (Losses) on Sales of Investment Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GainsLossesOnSalesOfInvestmentRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:to="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntitySmallBusiness_019e1df9-295c-7fff-ad0b-8d531cdfba13_terseLabel_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:label id="lab_dei_EntitySmallBusiness_label_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntitySmallBusiness" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntitySmallBusiness"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitySmallBusiness" xlink:to="lab_dei_EntitySmallBusiness" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_019e1df9-2898-75c6-8daf-1da3d87e9ad7_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Comprehensive income allocable to Public Storage shareholders</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_AffirmativeVoteOfOutstandingSharesOfSeriesOfPreferredSharesRequiredForAnyMaterialAndAdverseAmendmentToTermsOfSeriesPercent_019e1df9-29ec-7c46-ac63-88c8506a66a6_terseLabel_en-US" xlink:label="lab_psa_AffirmativeVoteOfOutstandingSharesOfSeriesOfPreferredSharesRequiredForAnyMaterialAndAdverseAmendmentToTermsOfSeriesPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affirmative vote of outstanding shares of a series of Preferred Shares required for any material and adverse amendment to the terms of series (in percent)</link:label>
    <link:label id="lab_psa_AffirmativeVoteOfOutstandingSharesOfSeriesOfPreferredSharesRequiredForAnyMaterialAndAdverseAmendmentToTermsOfSeriesPercent_label_en-US" xlink:label="lab_psa_AffirmativeVoteOfOutstandingSharesOfSeriesOfPreferredSharesRequiredForAnyMaterialAndAdverseAmendmentToTermsOfSeriesPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Affirmative Vote of Outstanding Shares of a Series of Preferred Shares Required for any Material and Adverse Amendment to the Terms of Series, Percent</link:label>
    <link:label id="lab_psa_AffirmativeVoteOfOutstandingSharesOfSeriesOfPreferredSharesRequiredForAnyMaterialAndAdverseAmendmentToTermsOfSeriesPercent_documentation_en-US" xlink:label="lab_psa_AffirmativeVoteOfOutstandingSharesOfSeriesOfPreferredSharesRequiredForAnyMaterialAndAdverseAmendmentToTermsOfSeriesPercent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Affirmative Vote of Outstanding Shares of a Series of Preferred Shares Required for any Material and Adverse Amendment to the Terms of Series, Percent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_AffirmativeVoteOfOutstandingSharesOfSeriesOfPreferredSharesRequiredForAnyMaterialAndAdverseAmendmentToTermsOfSeriesPercent" xlink:href="psa-20260630.xsd#psa_AffirmativeVoteOfOutstandingSharesOfSeriesOfPreferredSharesRequiredForAnyMaterialAndAdverseAmendmentToTermsOfSeriesPercent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_AffirmativeVoteOfOutstandingSharesOfSeriesOfPreferredSharesRequiredForAnyMaterialAndAdverseAmendmentToTermsOfSeriesPercent" xlink:to="lab_psa_AffirmativeVoteOfOutstandingSharesOfSeriesOfPreferredSharesRequiredForAnyMaterialAndAdverseAmendmentToTermsOfSeriesPercent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_019e1df9-29ec-77bb-ac0f-6960960a5f7d_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Various lease commitments 2028</link:label>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Liability, to be Paid, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrTerminationDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrTerminationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Termination Date</link:label>
    <link:label id="lab_ecd_TrdArrTerminationDate_label_en-US" xlink:label="lab_ecd_TrdArrTerminationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Termination Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrTerminationDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrTerminationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrTerminationDate" xlink:to="lab_ecd_TrdArrTerminationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestTable_019e1df9-295d-7a86-883c-ae8e8edc8806_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Table]</link:label>
    <link:label id="lab_us-gaap_MinorityInterestTable_label_en-US" xlink:label="lab_us-gaap_MinorityInterestTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestTable" xlink:to="lab_us-gaap_MinorityInterestTable" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_TenantCertificateHoldersParticipatingIndividualInsuranceProgram_019e1df9-295d-73e4-a973-428a2a29de1b_terseLabel_en-US" xlink:label="lab_psa_TenantCertificateHoldersParticipatingIndividualInsuranceProgram" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of tenant certificate holders participating in insurance program, approximate</link:label>
    <link:label id="lab_psa_TenantCertificateHoldersParticipatingIndividualInsuranceProgram_label_en-US" xlink:label="lab_psa_TenantCertificateHoldersParticipatingIndividualInsuranceProgram" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenant Certificate Holders Participating Individual Insurance Program</link:label>
    <link:label id="lab_psa_TenantCertificateHoldersParticipatingIndividualInsuranceProgram_documentation_en-US" xlink:label="lab_psa_TenantCertificateHoldersParticipatingIndividualInsuranceProgram" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of certificate holders held by tenants at our self-storage facilities participating in our tenant insurance program at the end of the reporting period.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_TenantCertificateHoldersParticipatingIndividualInsuranceProgram" xlink:href="psa-20260630.xsd#psa_TenantCertificateHoldersParticipatingIndividualInsuranceProgram"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_TenantCertificateHoldersParticipatingIndividualInsuranceProgram" xlink:to="lab_psa_TenantCertificateHoldersParticipatingIndividualInsuranceProgram" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_CommercialAndRetailSpaceMember_019e1df9-295c-7636-80b0-c09ea2e1916c_terseLabel_en-US" xlink:label="lab_psa_CommercialAndRetailSpaceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial and Retail Space</link:label>
    <link:label id="lab_psa_CommercialAndRetailSpaceMember_label_en-US" xlink:label="lab_psa_CommercialAndRetailSpaceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial And Retail Space [Member]</link:label>
    <link:label id="lab_psa_CommercialAndRetailSpaceMember_documentation_en-US" xlink:label="lab_psa_CommercialAndRetailSpaceMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commercial and Retail Space [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_CommercialAndRetailSpaceMember" xlink:href="psa-20260630.xsd#psa_CommercialAndRetailSpaceMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_CommercialAndRetailSpaceMember" xlink:to="lab_psa_CommercialAndRetailSpaceMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventsAbstract_019e1df9-2898-7f6b-bd7d-4568c0498187_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Events [Abstract]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventsAbstract_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsAbstract" xlink:to="lab_us-gaap_SubsequentEventsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Total Shareholder Return</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Total Shareholder Return [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MnpiDiscTimedForCompValFlag_terseLabel_en-US" xlink:label="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MNPI Disclosure Timed for Compensation Value</link:label>
    <link:label id="lab_ecd_MnpiDiscTimedForCompValFlag_label_en-US" xlink:label="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MNPI Disclosure Timed for Compensation Value [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MnpiDiscTimedForCompValFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MnpiDiscTimedForCompValFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MnpiDiscTimedForCompValFlag" xlink:to="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueSeptember152027Member_019e1df9-295c-78b7-b369-bfea33803efd_terseLabel_en-US" xlink:label="lab_psa_NotesDueSeptember152027Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due September&#160;15, 2027</link:label>
    <link:label id="lab_psa_NotesDueSeptember152027Member_label_en-US" xlink:label="lab_psa_NotesDueSeptember152027Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due September 15, 2027 [Member]</link:label>
    <link:label id="lab_psa_NotesDueSeptember152027Member_documentation_en-US" xlink:label="lab_psa_NotesDueSeptember152027Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes due, September, 2027 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueSeptember152027Member" xlink:href="psa-20260630.xsd#psa_NotesDueSeptember152027Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueSeptember152027Member" xlink:to="lab_psa_NotesDueSeptember152027Member" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_OnSitePropertyManagerPayrollMember_019e1df9-2898-7f6e-b460-8bc5b4198e26_terseLabel_en-US" xlink:label="lab_psa_OnSitePropertyManagerPayrollMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">On-site property manager payroll</link:label>
    <link:label id="lab_psa_OnSitePropertyManagerPayrollMember_label_en-US" xlink:label="lab_psa_OnSitePropertyManagerPayrollMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">On-Site Property manager Payroll [Member]</link:label>
    <link:label id="lab_psa_OnSitePropertyManagerPayrollMember_documentation_en-US" xlink:label="lab_psa_OnSitePropertyManagerPayrollMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">On-Site Property manager Payroll</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_OnSitePropertyManagerPayrollMember" xlink:href="psa-20260630.xsd#psa_OnSitePropertyManagerPayrollMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_OnSitePropertyManagerPayrollMember" xlink:to="lab_psa_OnSitePropertyManagerPayrollMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentType_019e1df9-2898-7d5b-8a5f-df1d6dee33af_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:label id="lab_dei_DocumentType_label_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentType"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType" xlink:to="lab_dei_DocumentType" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardGrantDateFairValue_terseLabel_en-US" xlink:label="lab_ecd_AwardGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value as of Grant Date</link:label>
    <link:label id="lab_ecd_AwardGrantDateFairValue_label_en-US" xlink:label="lab_ecd_AwardGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardGrantDateFairValue" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardGrantDateFairValue" xlink:to="lab_ecd_AwardGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_OtherDirectPropertyCostsMember_019e1df9-295c-7b25-a417-b5b5a1219987_terseLabel_en-US" xlink:label="lab_psa_OtherDirectPropertyCostsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other direct property costs</link:label>
    <link:label id="lab_psa_OtherDirectPropertyCostsMember_label_en-US" xlink:label="lab_psa_OtherDirectPropertyCostsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Direct Property Costs [Member]</link:label>
    <link:label id="lab_psa_OtherDirectPropertyCostsMember_documentation_en-US" xlink:label="lab_psa_OtherDirectPropertyCostsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Direct Property Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_OtherDirectPropertyCostsMember" xlink:href="psa-20260630.xsd#psa_OtherDirectPropertyCostsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_OtherDirectPropertyCostsMember" xlink:to="lab_psa_OtherDirectPropertyCostsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_019e1df9-295c-7527-afdd-b60d4073bdd0_verboseLabel_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Basis of Presentation and Summary of Significant Accounting Policies</link:label>
    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_label_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SignificantAccountingPoliciesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ForwardContractIndexedToIssuersEquityForwardRate_019f5f70-0afa-7342-8eb4-ccf0ecaf8b1e_terseLabel_en-US" xlink:label="lab_us-gaap_ForwardContractIndexedToIssuersEquityForwardRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward contract indexed to issuer's equity, forward rate per share (in USD per share)</link:label>
    <link:label id="lab_us-gaap_ForwardContractIndexedToIssuersEquityForwardRate_label_en-US" xlink:label="lab_us-gaap_ForwardContractIndexedToIssuersEquityForwardRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forward Contract Indexed to Issuer's Equity, Forward Rate Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForwardContractIndexedToIssuersEquityForwardRate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ForwardContractIndexedToIssuersEquityForwardRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForwardContractIndexedToIssuersEquityForwardRate" xlink:to="lab_us-gaap_ForwardContractIndexedToIssuersEquityForwardRate" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PvpTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PvpTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure, Table</link:label>
    <link:label id="lab_ecd_PvpTableTextBlock_label_en-US" xlink:label="lab_ecd_PvpTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PvpTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PvpTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PvpTableTextBlock" xlink:to="lab_ecd_PvpTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DebtToTotalAssetsRatio_019e1df9-295d-798f-baed-beab38b2434b_terseLabel_en-US" xlink:label="lab_psa_DebtToTotalAssetsRatio" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt to total assets ratio (in percent)</link:label>
    <link:label id="lab_psa_DebtToTotalAssetsRatio_label_en-US" xlink:label="lab_psa_DebtToTotalAssetsRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt to Total Assets Ratio</link:label>
    <link:label id="lab_psa_DebtToTotalAssetsRatio_documentation_en-US" xlink:label="lab_psa_DebtToTotalAssetsRatio" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt to Total Assets Ratio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_DebtToTotalAssetsRatio" xlink:href="psa-20260630.xsd#psa_DebtToTotalAssetsRatio"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_DebtToTotalAssetsRatio" xlink:to="lab_psa_DebtToTotalAssetsRatio" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrDuration_terseLabel_en-US" xlink:label="lab_ecd_TrdArrDuration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Arrangement Duration</link:label>
    <link:label id="lab_ecd_TrdArrDuration_label_en-US" xlink:label="lab_ecd_TrdArrDuration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Duration</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrDuration" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrDuration"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrDuration" xlink:to="lab_ecd_TrdArrDuration" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventLineItems_019e1df9-2898-7c54-a173-766cb08df623_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event [Line Items]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventLineItems_label_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventLineItems" xlink:to="lab_us-gaap_SubsequentEventLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_019e1df9-295d-7f0c-b158-2a283442e704_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_LocalPhoneNumber_019e1df9-295d-7d34-a3b3-534598d33292_terseLabel_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:label id="lab_dei_LocalPhoneNumber_label_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LocalPhoneNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LocalPhoneNumber" xlink:to="lab_dei_LocalPhoneNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_country_CA_019e1df9-295d-7beb-8596-795adb864b5e_terseLabel_en-US" xlink:label="lab_country_CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Canada</link:label>
    <link:label id="lab_country_CA_label_en-US" xlink:label="lab_country_CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CANADA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_CA" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_CA"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_CA" xlink:to="lab_country_CA" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ConsolidationItemsAxis_019e1df9-2898-7704-b421-59ee6cec742f_terseLabel_en-US" xlink:label="lab_srt_ConsolidationItemsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation Items [Axis]</link:label>
    <link:label id="lab_srt_ConsolidationItemsAxis_label_en-US" xlink:label="lab_srt_ConsolidationItemsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation Items [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidationItemsAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ConsolidationItemsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidationItemsAxis" xlink:to="lab_srt_ConsolidationItemsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressPostalZipCode_019e1df9-295c-7457-b611-bde1b98720aa_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressPostalZipCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityRegistrantName_019e1df9-29ec-752f-812d-3913d1c6a8c8_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_label_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityRegistrantName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DevelopmentInProcessTransferFromOtherAssets_019e1df9-29ec-7d76-9ba1-3e58a7415134_terseLabel_en-US" xlink:label="lab_psa_DevelopmentInProcessTransferFromOtherAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfer from Other Assets</link:label>
    <link:label id="lab_psa_DevelopmentInProcessTransferFromOtherAssets_label_en-US" xlink:label="lab_psa_DevelopmentInProcessTransferFromOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Development In Process, Transfer From Other Assets</link:label>
    <link:label id="lab_psa_DevelopmentInProcessTransferFromOtherAssets_documentation_en-US" xlink:label="lab_psa_DevelopmentInProcessTransferFromOtherAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Development In Process, Transfer From Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_DevelopmentInProcessTransferFromOtherAssets" xlink:href="psa-20260630.xsd#psa_DevelopmentInProcessTransferFromOtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_DevelopmentInProcessTransferFromOtherAssets" xlink:to="lab_psa_DevelopmentInProcessTransferFromOtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_019e1df9-295d-7aa9-97f6-8e25348912e3_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income before income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock_terseLabel_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Not Adopted</link:label>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock_label_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Not Adopted [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:to="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfCountriesInWhichEntityOperates_019e1df9-29ec-7cdf-93fa-8e9dc481740e_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfCountriesInWhichEntityOperates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of countries in which entity operates</link:label>
    <link:label id="lab_us-gaap_NumberOfCountriesInWhichEntityOperates_label_en-US" xlink:label="lab_us-gaap_NumberOfCountriesInWhichEntityOperates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Countries in which Entity Operates</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfCountriesInWhichEntityOperates" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfCountriesInWhichEntityOperates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfCountriesInWhichEntityOperates" xlink:to="lab_us-gaap_NumberOfCountriesInWhichEntityOperates" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_019e1df9-295d-7a91-aae1-debc572fa7ec_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and contingencies (Note 15)</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies" xlink:to="lab_us-gaap_CommitmentsAndContingencies" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_019e1df9-2898-7de9-bb32-caeae2951273_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gross Book Value</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, before Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Revenues_019e1df9-2898-7757-9846-59bb041ad0cc_verboseLabel_en-US" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total revenues</link:label>
    <link:label id="lab_us-gaap_Revenues_019e1df9-2898-7604-8e1c-735a943cbff2_terseLabel_en-US" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue</link:label>
    <link:label id="lab_us-gaap_Revenues_label_en-US" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Revenues" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Revenues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Revenues" xlink:to="lab_us-gaap_Revenues" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChangedPeerGroupFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changed Peer Group, Footnote</link:label>
    <link:label id="lab_ecd_ChangedPeerGroupFnTextBlock_label_en-US" xlink:label="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changed Peer Group, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChangedPeerGroupFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ChangedPeerGroupFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChangedPeerGroupFnTextBlock" xlink:to="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_019e1df9-2898-7c2d-b383-ef38718f8ef0_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_019e1df9-29ec-7d75-9fcc-b7e39cee8884_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity in earnings (loss) of unconsolidated real estate entity</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_019e1df9-29ec-73fd-b90a-1aa15c2d548e_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Equity in earnings of unconsolidated real estate entity</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeLossFromEquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_LongTermDebtMaturityAfterYearFour_019e1df9-295c-7680-ad16-ad74d8d5d28b_terseLabel_en-US" xlink:label="lab_psa_LongTermDebtMaturityAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_psa_LongTermDebtMaturityAfterYearFour_label_en-US" xlink:label="lab_psa_LongTermDebtMaturityAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, After Year Four</link:label>
    <link:label id="lab_psa_LongTermDebtMaturityAfterYearFour_documentation_en-US" xlink:label="lab_psa_LongTermDebtMaturityAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, After Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_LongTermDebtMaturityAfterYearFour" xlink:href="psa-20260630.xsd#psa_LongTermDebtMaturityAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_LongTermDebtMaturityAfterYearFour" xlink:to="lab_psa_LongTermDebtMaturityAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Expense of Enforcement, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Expense of Enforcement, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ExecutiveCategoryAxis_terseLabel_en-US" xlink:label="lab_ecd_ExecutiveCategoryAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Executive Category:</link:label>
    <link:label id="lab_ecd_ExecutiveCategoryAxis_label_en-US" xlink:label="lab_ecd_ExecutiveCategoryAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Executive Category [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ExecutiveCategoryAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ExecutiveCategoryAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ExecutiveCategoryAxis" xlink:to="lab_ecd_ExecutiveCategoryAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_019e1df9-295d-72ba-8476-67f31dbf0593_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivable Type [Axis]</link:label>
    <link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_label_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivable Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ImpairmentOfRealEstate_019e1df9-29ec-70d1-89ac-2da8690d8073_terseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment (recovery) of real estate investments</link:label>
    <link:label id="lab_us-gaap_ImpairmentOfRealEstate_label_en-US" xlink:label="lab_us-gaap_ImpairmentOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment of Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ImpairmentOfRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ImpairmentOfRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairmentOfRealEstate" xlink:to="lab_us-gaap_ImpairmentOfRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_CounterpartyNameAxis_019e1df9-295c-7fde-ab12-b7972ce61ea8_terseLabel_en-US" xlink:label="lab_srt_CounterpartyNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Counterparty Name [Axis]</link:label>
    <link:label id="lab_srt_CounterpartyNameAxis_label_en-US" xlink:label="lab_srt_CounterpartyNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparty Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_CounterpartyNameAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_CounterpartyNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_CounterpartyNameAxis" xlink:to="lab_srt_CounterpartyNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_019e1df9-2898-7b05-ac3e-944bd46f7ad0_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LIABILITIES AND EQUITY</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherCommitmentsTable_019e1df9-2898-7a48-8470-9951fc1a9b7f_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Commitments [Table]</link:label>
    <link:label id="lab_us-gaap_OtherCommitmentsTable_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Commitments [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherCommitmentsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentsTable" xlink:to="lab_us-gaap_OtherCommitmentsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_LineOfCreditFacilityAccordionFeatureIncreaseLimit_019f5f48-6b2d-7d12-b75c-52127ddcad47_terseLabel_en-US" xlink:label="lab_psa_LineOfCreditFacilityAccordionFeatureIncreaseLimit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of credit facility, accordion feature, increase limit</link:label>
    <link:label id="lab_psa_LineOfCreditFacilityAccordionFeatureIncreaseLimit_label_en-US" xlink:label="lab_psa_LineOfCreditFacilityAccordionFeatureIncreaseLimit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Accordion Feature, Increase Limit</link:label>
    <link:label id="lab_psa_LineOfCreditFacilityAccordionFeatureIncreaseLimit_documentation_en-US" xlink:label="lab_psa_LineOfCreditFacilityAccordionFeatureIncreaseLimit" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Accordion Feature, Increase Limit</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_LineOfCreditFacilityAccordionFeatureIncreaseLimit" xlink:href="psa-20260630.xsd#psa_LineOfCreditFacilityAccordionFeatureIncreaseLimit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_LineOfCreditFacilityAccordionFeatureIncreaseLimit" xlink:to="lab_psa_LineOfCreditFacilityAccordionFeatureIncreaseLimit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TradeNamesMember_019e1df9-29ec-70bc-8d0f-14439fd81bcd_terseLabel_en-US" xlink:label="lab_us-gaap_TradeNamesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade Names</link:label>
    <link:label id="lab_us-gaap_TradeNamesMember_label_en-US" xlink:label="lab_us-gaap_TradeNamesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade Names [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TradeNamesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TradeNamesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradeNamesMember" xlink:to="lab_us-gaap_TradeNamesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_HughesOwnedCanadianFacilitiesMember_019e1df9-295d-7fa7-8c2f-6503851b8020_terseLabel_en-US" xlink:label="lab_psa_HughesOwnedCanadianFacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hughes Owned Canadian Facilities</link:label>
    <link:label id="lab_psa_HughesOwnedCanadianFacilitiesMember_label_en-US" xlink:label="lab_psa_HughesOwnedCanadianFacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hughes Owned Canadian Facilities [Member]</link:label>
    <link:label id="lab_psa_HughesOwnedCanadianFacilitiesMember_documentation_en-US" xlink:label="lab_psa_HughesOwnedCanadianFacilitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hughes Owned Canadian Facilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_HughesOwnedCanadianFacilitiesMember" xlink:href="psa-20260630.xsd#psa_HughesOwnedCanadianFacilitiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_HughesOwnedCanadianFacilitiesMember" xlink:to="lab_psa_HughesOwnedCanadianFacilitiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_019e1df9-295c-74c2-a529-735d649efd8a_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Compensation Actually Paid Amount</link:label>
    <link:label id="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt_label_en-US" xlink:label="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Compensation Actually Paid Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonPeoNeoAvgCompActuallyPaidAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:to="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense_019e1df9-2898-7e23-afbd-b0b2f83a869d_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual equity award</link:label>
    <link:label id="lab_us-gaap_DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense_label_en-US" xlink:label="lab_us-gaap_DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Compensation Arrangement with Individual, Allocated Share-Based Compensation Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense" xlink:to="lab_us-gaap_DeferredCompensationArrangementWithIndividualAllocatedShareBasedCompensationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_019e1df9-2898-7429-a252-156ccd9088d1_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental cash flow information:</link:label>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SupplementalCashFlowInformationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SelfStorageOperationsMember_019e1df9-295d-7b34-ace2-1146ff1f2075_terseLabel_en-US" xlink:label="lab_psa_SelfStorageOperationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Self-storage facilities</link:label>
    <link:label id="lab_psa_SelfStorageOperationsMember_019e1df9-295d-73d7-9486-064e55b66ff6_verboseLabel_en-US" xlink:label="lab_psa_SelfStorageOperationsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Self-Storage Operations Reportable Segment</link:label>
    <link:label id="lab_psa_SelfStorageOperationsMember_label_en-US" xlink:label="lab_psa_SelfStorageOperationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Self Storage Operations [Member]</link:label>
    <link:label id="lab_psa_SelfStorageOperationsMember_documentation_en-US" xlink:label="lab_psa_SelfStorageOperationsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Self-Storage Operations [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SelfStorageOperationsMember" xlink:href="psa-20260630.xsd#psa_SelfStorageOperationsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SelfStorageOperationsMember" xlink:to="lab_psa_SelfStorageOperationsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_019e1df9-295d-78ec-8666-2faff9d3b5d0_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_019e1df9-29ec-76fc-9f64-0d7b721f9de4_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership interest of noncontrolling owners (less than) (in percent)</link:label>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_label_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary, Ownership Percentage, Noncontrolling Owner</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:to="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoName_terseLabel_en-US" xlink:label="lab_ecd_PeoName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Name</link:label>
    <link:label id="lab_ecd_PeoName_label_en-US" xlink:label="lab_ecd_PeoName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoName" xlink:to="lab_ecd_PeoName" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_StatementGeographicalAxis_019e1df9-29ec-7618-8e78-733131cbbf34_terseLabel_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:label id="lab_srt_StatementGeographicalAxis_label_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StatementGeographicalAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_StatementGeographicalAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_StatementGeographicalAxis" xlink:to="lab_srt_StatementGeographicalAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesRPreferredStockMember_019e1df9-2898-7908-aa9f-9afad0e4d116_terseLabel_en-US" xlink:label="lab_psa_SeriesRPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series R Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesRPreferredStockMember_019e1df9-2898-7e78-af7a-d4f64968636c_verboseLabel_en-US" xlink:label="lab_psa_SeriesRPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series R</link:label>
    <link:label id="lab_psa_SeriesRPreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesRPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series R Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesRPreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesRPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series R Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesRPreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesRPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesRPreferredStockMember" xlink:to="lab_psa_SeriesRPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueApril162027Member_019e1df9-295c-7f8d-9004-5b3bb41e8979_terseLabel_en-US" xlink:label="lab_psa_NotesDueApril162027Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due April 16, 2027</link:label>
    <link:label id="lab_psa_NotesDueApril162027Member_label_en-US" xlink:label="lab_psa_NotesDueApril162027Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due April 16, 2027 [Member]</link:label>
    <link:label id="lab_psa_NotesDueApril162027Member_documentation_en-US" xlink:label="lab_psa_NotesDueApril162027Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due April 16, 2027</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueApril162027Member" xlink:href="psa-20260630.xsd#psa_NotesDueApril162027Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueApril162027Member" xlink:to="lab_psa_NotesDueApril162027Member" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_AtTheMarketATMProgramMember_019f7d9c-0e44-7a53-87ff-c2b7b81a74ac_terseLabel_en-US" xlink:label="lab_psa_AtTheMarketATMProgramMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">At-the-Market (&#8220;ATM&#8221;) Program</link:label>
    <link:label id="lab_psa_AtTheMarketATMProgramMember_label_en-US" xlink:label="lab_psa_AtTheMarketATMProgramMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">At-the-Market (&#8220;ATM&#8221;) Program [Member]</link:label>
    <link:label id="lab_psa_AtTheMarketATMProgramMember_documentation_en-US" xlink:label="lab_psa_AtTheMarketATMProgramMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">At-the-Market (&#8220;ATM&#8221;) Program</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_AtTheMarketATMProgramMember" xlink:href="psa-20260630.xsd#psa_AtTheMarketATMProgramMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_AtTheMarketATMProgramMember" xlink:to="lab_psa_AtTheMarketATMProgramMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DevelopmentInProcessRollForward_019e1df9-295d-71f6-9169-384e25ca4eb8_terseLabel_en-US" xlink:label="lab_psa_DevelopmentInProcessRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Construction in process:</link:label>
    <link:label id="lab_psa_DevelopmentInProcessRollForward_label_en-US" xlink:label="lab_psa_DevelopmentInProcessRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Development In Process [Roll Forward]</link:label>
    <link:label id="lab_psa_DevelopmentInProcessRollForward_documentation_en-US" xlink:label="lab_psa_DevelopmentInProcessRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Development In Process</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_DevelopmentInProcessRollForward" xlink:href="psa-20260630.xsd#psa_DevelopmentInProcessRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_DevelopmentInProcessRollForward" xlink:to="lab_psa_DevelopmentInProcessRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForPropertyEnhancements_019e1df9-295c-79c4-877f-77e90ba7bdea_terseLabel_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForPropertyEnhancements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures for property enhancements</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForPropertyEnhancements_label_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForPropertyEnhancements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property At Cost, Capital Expenditures For Property Enhancements</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForPropertyEnhancements_documentation_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForPropertyEnhancements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property At Cost, Capital Expenditures For Property Enhancements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForPropertyEnhancements" xlink:href="psa-20260630.xsd#psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForPropertyEnhancements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForPropertyEnhancements" xlink:to="lab_psa_RealEstateInvestmentPropertyAtCostCapitalExpendituresForPropertyEnhancements" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherAssets_019e1df9-2898-7af2-9f39-8ad953eb1dae_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssets_label_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssets" xlink:to="lab_us-gaap_OtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NumberOfAdditionalMembersRightToElect_019e1df9-295d-781c-aac0-f78e43928c60_verboseLabel_en-US" xlink:label="lab_psa_NumberOfAdditionalMembersRightToElect" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of additional board members the preferred shareholders can elect in the case of an excess arrearage of quarterly dividends</link:label>
    <link:label id="lab_psa_NumberOfAdditionalMembersRightToElect_label_en-US" xlink:label="lab_psa_NumberOfAdditionalMembersRightToElect" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Additional Members Right To Elect</link:label>
    <link:label id="lab_psa_NumberOfAdditionalMembersRightToElect_documentation_en-US" xlink:label="lab_psa_NumberOfAdditionalMembersRightToElect" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of additional board members the preferred shareholders can elect in the case of an excess arrearage of quarterly dividends</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NumberOfAdditionalMembersRightToElect" xlink:href="psa-20260630.xsd#psa_NumberOfAdditionalMembersRightToElect"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NumberOfAdditionalMembersRightToElect" xlink:to="lab_psa_NumberOfAdditionalMembersRightToElect" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock_terseLabel_en-US" xlink:label="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Price or TSR Estimation Method</link:label>
    <link:label id="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock_label_en-US" xlink:label="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Price or TSR Estimation Method [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_StkPrcOrTsrEstimationMethodTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:to="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_019e1df9-29ec-73fc-a136-04468b237e23_terseLabel_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_label_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityTaxIdentificationNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityTaxIdentificationNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityTaxIdentificationNumber" xlink:to="lab_dei_EntityTaxIdentificationNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_LegalEntityAxis_019e1df9-2898-7412-b5b7-7d26d43a848f_terseLabel_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:label id="lab_dei_LegalEntityAxis_label_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LegalEntityAxis" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LegalEntityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LegalEntityAxis" xlink:to="lab_dei_LegalEntityAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RealEstateRelatedAndOtherMember_019e1df9-2898-7266-b3e7-2119182f5a7c_terseLabel_en-US" xlink:label="lab_psa_RealEstateRelatedAndOtherMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Related and Other</link:label>
    <link:label id="lab_psa_RealEstateRelatedAndOtherMember_label_en-US" xlink:label="lab_psa_RealEstateRelatedAndOtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Related And Other [Member]</link:label>
    <link:label id="lab_psa_RealEstateRelatedAndOtherMember_documentation_en-US" xlink:label="lab_psa_RealEstateRelatedAndOtherMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Related And Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RealEstateRelatedAndOtherMember" xlink:href="psa-20260630.xsd#psa_RealEstateRelatedAndOtherMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RealEstateRelatedAndOtherMember" xlink:to="lab_psa_RealEstateRelatedAndOtherMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_AdjustmentsToAdditionalPaidInCapitalSaleOfOperatingProfitOptions_019e1df9-29ec-7ac5-b78b-2462e67082f1_terseLabel_en-US" xlink:label="lab_psa_AdjustmentsToAdditionalPaidInCapitalSaleOfOperatingProfitOptions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of OP Options</link:label>
    <link:label id="lab_psa_AdjustmentsToAdditionalPaidInCapitalSaleOfOperatingProfitOptions_label_en-US" xlink:label="lab_psa_AdjustmentsToAdditionalPaidInCapitalSaleOfOperatingProfitOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to Additional Paid in Capital, Sale Of Operating Profit Options</link:label>
    <link:label id="lab_psa_AdjustmentsToAdditionalPaidInCapitalSaleOfOperatingProfitOptions_documentation_en-US" xlink:label="lab_psa_AdjustmentsToAdditionalPaidInCapitalSaleOfOperatingProfitOptions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments to Additional Paid in Capital, Sale Of Operating Profit Options</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_AdjustmentsToAdditionalPaidInCapitalSaleOfOperatingProfitOptions" xlink:href="psa-20260630.xsd#psa_AdjustmentsToAdditionalPaidInCapitalSaleOfOperatingProfitOptions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_AdjustmentsToAdditionalPaidInCapitalSaleOfOperatingProfitOptions" xlink:to="lab_psa_AdjustmentsToAdditionalPaidInCapitalSaleOfOperatingProfitOptions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherCommitmentsLineItems_019e1df9-2898-78af-89d1-6994e0e8cc3c_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Commitments [Line Items]</link:label>
    <link:label id="lab_us-gaap_OtherCommitmentsLineItems_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Commitments [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitmentsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherCommitmentsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentsLineItems" xlink:to="lab_us-gaap_OtherCommitmentsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForRestructuring_019e1df9-2898-76a9-aeb3-967855b73ff8_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRestructuring" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Cash payments and other adjustments</link:label>
    <link:label id="lab_us-gaap_PaymentsForRestructuring_label_en-US" xlink:label="lab_us-gaap_PaymentsForRestructuring" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Restructuring</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForRestructuring" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsForRestructuring"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForRestructuring" xlink:to="lab_us-gaap_PaymentsForRestructuring" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_UnitHolderInterestOfJointVenturePercentage_019e1df9-29ec-7aa1-a382-b5695f2fff4c_terseLabel_en-US" xlink:label="lab_psa_UnitHolderInterestOfJointVenturePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unit holder interest of joint venture (in percent)</link:label>
    <link:label id="lab_psa_UnitHolderInterestOfJointVenturePercentage_label_en-US" xlink:label="lab_psa_UnitHolderInterestOfJointVenturePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unit Holder Interest Of Joint Venture, Percentage</link:label>
    <link:label id="lab_psa_UnitHolderInterestOfJointVenturePercentage_documentation_en-US" xlink:label="lab_psa_UnitHolderInterestOfJointVenturePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unit Holder Interest Of Joint Venture, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_UnitHolderInterestOfJointVenturePercentage" xlink:href="psa-20260630.xsd#psa_UnitHolderInterestOfJointVenturePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_UnitHolderInterestOfJointVenturePercentage" xlink:to="lab_psa_UnitHolderInterestOfJointVenturePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_019e1df9-295d-759f-9c74-ce7724da2450_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash and equivalents at beginning of the period:</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_019e1df9-295d-7c32-914b-7354592e728d_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash and equivalents at end of the period:</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact_019e1df9-29ec-7c0c-ad4c-f2c2ba6e58d4_negatedLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Preferred shareholders</link:label>
    <link:label id="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock Dividends, Income Statement Impact</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockDividendsIncomeStatementImpact"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:to="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_019e1df9-295c-73df-abd1-511af0d95193_terseLabel_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_label_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityIncorporationStateCountryCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityIncorporationStateCountryCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationStateCountryCode" xlink:to="lab_dei_EntityIncorporationStateCountryCode" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueMay12029Member_019e1df9-29ec-7445-a941-95c569e9d540_terseLabel_en-US" xlink:label="lab_psa_NotesDueMay12029Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due May&#160;1, 2029</link:label>
    <link:label id="lab_psa_NotesDueMay12029Member_label_en-US" xlink:label="lab_psa_NotesDueMay12029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due May 1, 2029 [Member]</link:label>
    <link:label id="lab_psa_NotesDueMay12029Member_documentation_en-US" xlink:label="lab_psa_NotesDueMay12029Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due May 1, 2029</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueMay12029Member" xlink:href="psa-20260630.xsd#psa_NotesDueMay12029Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueMay12029Member" xlink:to="lab_psa_NotesDueMay12029Member" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_CumulativeArrearageOfQuarterlyDividends_019e1df9-2898-728d-a415-69bd1ac02f71_terseLabel_en-US" xlink:label="lab_psa_CumulativeArrearageOfQuarterlyDividends" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of quarterly dividends in arrearage before preferred shareholders can elect additional board members</link:label>
    <link:label id="lab_psa_CumulativeArrearageOfQuarterlyDividends_label_en-US" xlink:label="lab_psa_CumulativeArrearageOfQuarterlyDividends" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cumulative Arrearage Of Quarterly Dividends</link:label>
    <link:label id="lab_psa_CumulativeArrearageOfQuarterlyDividends_documentation_en-US" xlink:label="lab_psa_CumulativeArrearageOfQuarterlyDividends" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of quarterly dividends in arrearage before preferred shareholders can elect additional board members.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_CumulativeArrearageOfQuarterlyDividends" xlink:href="psa-20260630.xsd#psa_CumulativeArrearageOfQuarterlyDividends"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_CumulativeArrearageOfQuarterlyDividends" xlink:to="lab_psa_CumulativeArrearageOfQuarterlyDividends" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtErrCompNotYetDeterminedTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Not Yet Determined</link:label>
    <link:label id="lab_ecd_AggtErrCompNotYetDeterminedTextBlock_label_en-US" xlink:label="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Not Yet Determined [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtErrCompNotYetDeterminedTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:to="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MtrlTermsOfTrdArrTextBlock_terseLabel_en-US" xlink:label="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Material Terms of Trading Arrangement</link:label>
    <link:label id="lab_ecd_MtrlTermsOfTrdArrTextBlock_label_en-US" xlink:label="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Material Terms of Trading Arrangement [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MtrlTermsOfTrdArrTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MtrlTermsOfTrdArrTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MtrlTermsOfTrdArrTextBlock" xlink:to="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonNeosMember_terseLabel_en-US" xlink:label="lab_ecd_NonNeosMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-NEOs</link:label>
    <link:label id="lab_ecd_NonNeosMember_label_en-US" xlink:label="lab_ecd_NonNeosMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-NEOs [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonNeosMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonNeosMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonNeosMember" xlink:to="lab_ecd_NonNeosMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year</link:label>
    <link:label id="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_label_en-US" xlink:label="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:to="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_019e1df9-295d-7c9b-b162-8b2d9881f1ff_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive income</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentAxis_019e1df9-29ec-7db0-bb55-83dcf3b8a63e_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentAxis_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentAxis" xlink:to="lab_us-gaap_DebtInstrumentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTable_019e1df9-295d-752d-a634-1fd0ff71c54f_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTable_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTable" xlink:to="lab_us-gaap_SubsequentEventTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_019e1df9-29ec-7cdd-9544-966282c5be12_verboseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Ownership interest (in percent)</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_019e1df9-29ec-7e72-aaf5-157e08e1b279_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership interest (in percent)</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Ownership Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensation_019e1df9-295c-790d-af6d-41ba12e0f095_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Share-based compensation expense</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Noncash Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensation" xlink:to="lab_us-gaap_ShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_019e1df9-29ec-74b6-b82d-5520a20b9d1e_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Land_019e1df9-29ec-7f45-b885-b2aac8f6f5f8_terseLabel_en-US" xlink:label="lab_us-gaap_Land" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land</link:label>
    <link:label id="lab_us-gaap_Land_label_en-US" xlink:label="lab_us-gaap_Land" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Land" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Land"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Land" xlink:to="lab_us-gaap_Land" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestPaidCapitalized_019e1df9-295d-724e-9944-52e09264b0e8_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPaidCapitalized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest capitalized as real estate</link:label>
    <link:label id="lab_us-gaap_InterestPaidCapitalized_label_en-US" xlink:label="lab_us-gaap_InterestPaidCapitalized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Paid, Capitalized, Investing Activity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPaidCapitalized" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestPaidCapitalized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPaidCapitalized" xlink:to="lab_us-gaap_InterestPaidCapitalized" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueMay12031Member_019e1df9-29ec-702e-9ce4-800551966cda_terseLabel_en-US" xlink:label="lab_psa_NotesDueMay12031Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due May 1, 2031</link:label>
    <link:label id="lab_psa_NotesDueMay12031Member_label_en-US" xlink:label="lab_psa_NotesDueMay12031Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due May 1, 2031 [Member]</link:label>
    <link:label id="lab_psa_NotesDueMay12031Member_documentation_en-US" xlink:label="lab_psa_NotesDueMay12031Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due May 1, 2031 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueMay12031Member" xlink:href="psa-20260630.xsd#psa_NotesDueMay12031Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueMay12031Member" xlink:to="lab_psa_NotesDueMay12031Member" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NSAMergerMember_019e1df9-295d-76ce-8f0f-6391f523dc2f_terseLabel_en-US" xlink:label="lab_psa_NSAMergerMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">NSA Merger</link:label>
    <link:label id="lab_psa_NSAMergerMember_label_en-US" xlink:label="lab_psa_NSAMergerMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NSA Merger [Member]</link:label>
    <link:label id="lab_psa_NSAMergerMember_documentation_en-US" xlink:label="lab_psa_NSAMergerMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">NSA Merger</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NSAMergerMember" xlink:href="psa-20260630.xsd#psa_NSAMergerMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NSAMergerMember" xlink:to="lab_psa_NSAMergerMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDebtTableTextBlock_019e1df9-2898-7534-8e7c-e8f5714300a8_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Notes Payable</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDebtTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Debt [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDebtTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfDebtTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDebtTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfDebtTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesTCumulativePreferredStockMember_019f8099-deb7-74fe-a4c2-3e853ea447fc_terseLabel_en-US" xlink:label="lab_psa_SeriesTCumulativePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series T Cumulative Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesTCumulativePreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesTCumulativePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series T Cumulative Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesTCumulativePreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesTCumulativePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series T Cumulative Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesTCumulativePreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesTCumulativePreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesTCumulativePreferredStockMember" xlink:to="lab_psa_SeriesTCumulativePreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_019e1df9-295c-7322-941b-0f537f2b76c9_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenants reinsurance premiums earned by subsidiaries</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Amounts of Transaction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:to="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_019e1df9-295d-790a-a74a-bebe309219d2_terseLabel_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Method Investee, Name [Domain]</link:label>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_label_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_EquityMethodInvesteeNameDomain" xlink:to="lab_srt_EquityMethodInvesteeNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_019e1df9-29ec-7250-89b0-dc40b56706be_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_019e1df9-2898-7bcb-ae8f-ce3f3aa21c8c_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Domain]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeDomain" xlink:to="lab_us-gaap_LongtermDebtTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_019e1df9-29ec-74b7-87a7-141417968189_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Basic (in USD per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasic" xlink:to="lab_us-gaap_EarningsPerShareBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeAxis_019e1df9-295d-7a06-b76b-b36a7ca3a455_terseLabel_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:label id="lab_srt_RangeAxis_label_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeAxis" xlink:to="lab_srt_RangeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTradingArrLineItems_label_en-US" xlink:label="lab_ecd_InsiderTradingArrLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Arrangements [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTradingArrLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTradingArrLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTradingArrLineItems" xlink:to="lab_ecd_InsiderTradingArrLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NumberOfOperatingSelfStorageFacilitiesAcquired_019e1df9-295c-76b1-8fb1-3979e76cf564_terseLabel_en-US" xlink:label="lab_psa_NumberOfOperatingSelfStorageFacilitiesAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of operating self-storage facilities acquired</link:label>
    <link:label id="lab_psa_NumberOfOperatingSelfStorageFacilitiesAcquired_label_en-US" xlink:label="lab_psa_NumberOfOperatingSelfStorageFacilitiesAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Operating Self Storage Facilities Acquired</link:label>
    <link:label id="lab_psa_NumberOfOperatingSelfStorageFacilitiesAcquired_documentation_en-US" xlink:label="lab_psa_NumberOfOperatingSelfStorageFacilitiesAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Operating Self Storage Facilities Acquired</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NumberOfOperatingSelfStorageFacilitiesAcquired" xlink:href="psa-20260630.xsd#psa_NumberOfOperatingSelfStorageFacilitiesAcquired"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NumberOfOperatingSelfStorageFacilitiesAcquired" xlink:to="lab_psa_NumberOfOperatingSelfStorageFacilitiesAcquired" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToDevelopRealEstateAssets_019e1df9-295d-7fce-9d03-ae1c029796b5_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToDevelopRealEstateAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Development and expansion of real estate facilities</link:label>
    <link:label id="lab_us-gaap_PaymentsToDevelopRealEstateAssets_label_en-US" xlink:label="lab_us-gaap_PaymentsToDevelopRealEstateAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Develop Real Estate Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToDevelopRealEstateAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToDevelopRealEstateAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToDevelopRealEstateAssets" xlink:to="lab_us-gaap_PaymentsToDevelopRealEstateAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestructuringIncurredCostStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration_019e1df9-2898-738e-8332-f896d9019a6e_terseLabel_en-US" xlink:label="lab_us-gaap_RestructuringIncurredCostStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]</link:label>
    <link:label id="lab_us-gaap_RestructuringIncurredCostStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration_label_en-US" xlink:label="lab_us-gaap_RestructuringIncurredCostStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestructuringIncurredCostStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestructuringIncurredCostStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestructuringIncurredCostStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration" xlink:to="lab_us-gaap_RestructuringIncurredCostStatementOfIncomeOrComprehensiveIncomeExtensibleEnumeration" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AwardTypeAxis_019e1df9-295c-7558-9a3f-043c82dd3ad3_terseLabel_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:label id="lab_us-gaap_AwardTypeAxis_label_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AwardTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AwardTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AwardTypeAxis" xlink:to="lab_us-gaap_AwardTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfFinancingCosts_019e1df9-295d-7c6c-86dd-5764930093d0_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfFinancingCosts" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Financing fees paid</link:label>
    <link:label id="lab_us-gaap_PaymentsOfFinancingCosts_label_en-US" xlink:label="lab_us-gaap_PaymentsOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Financing Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfFinancingCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsOfFinancingCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfFinancingCosts" xlink:to="lab_us-gaap_PaymentsOfFinancingCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesOPreferredStockMember_019e1df9-295d-713b-94f2-6e32afa1b6f3_terseLabel_en-US" xlink:label="lab_psa_SeriesOPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series O Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesOPreferredStockMember_019e1df9-295d-73bc-998c-4a025d291fff_verboseLabel_en-US" xlink:label="lab_psa_SeriesOPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series O</link:label>
    <link:label id="lab_psa_SeriesOPreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesOPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series O Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesOPreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesOPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Outstanding nonredeemable series O preferred stock or outstanding series O preferred stock. Classified within stockholders' equity if nonredeemable or redeemable solely at the option of the issuer. Classified within temporary equity if redemption is outside the control of the issuer.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesOPreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesOPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesOPreferredStockMember" xlink:to="lab_psa_SeriesOPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesKPreferredStockMember_019e1df9-295c-7e40-8071-0204d6a16ffe_terseLabel_en-US" xlink:label="lab_psa_SeriesKPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series K Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesKPreferredStockMember_019e1df9-295c-7f4d-9cfa-f96099419277_verboseLabel_en-US" xlink:label="lab_psa_SeriesKPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series K</link:label>
    <link:label id="lab_psa_SeriesKPreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesKPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series K Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesKPreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesKPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Outstanding nonredeemable series K preferred stock or outstanding series K preferred stock. Classified within stockholders' equity if nonredeemable or redeemable solely at the option of the issuer. Classified within temporary equity if redemption is outside the control of the issuer.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesKPreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesKPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesKPreferredStockMember" xlink:to="lab_psa_SeriesKPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NamedExecutiveOfficersFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Named Executive Officers, Footnote</link:label>
    <link:label id="lab_ecd_NamedExecutiveOfficersFnTextBlock_label_en-US" xlink:label="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Named Executive Officers, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NamedExecutiveOfficersFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NamedExecutiveOfficersFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NamedExecutiveOfficersFnTextBlock" xlink:to="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_019e1df9-29ec-777b-876f-6d28c03daae7_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_A5.150SeniorNotesDue2036Member_019f7d7a-157e-74cc-9abf-51f53e1e1be9_terseLabel_en-US" xlink:label="lab_psa_A5.150SeniorNotesDue2036Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">5.150% Senior Notes Due 2036</link:label>
    <link:label id="lab_psa_A5.150SeniorNotesDue2036Member_label_en-US" xlink:label="lab_psa_A5.150SeniorNotesDue2036Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">5.150% Senior Notes Due 2036 [Member]</link:label>
    <link:label id="lab_psa_A5.150SeniorNotesDue2036Member_documentation_en-US" xlink:label="lab_psa_A5.150SeniorNotesDue2036Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">5.150% Senior Notes Due 2036</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_A5.150SeniorNotesDue2036Member" xlink:href="psa-20260630.xsd#psa_A5.150SeniorNotesDue2036Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_A5.150SeniorNotesDue2036Member" xlink:to="lab_psa_A5.150SeniorNotesDue2036Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestructuringAndRelatedActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_RestructuringAndRelatedActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restructuring and Related Activities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestructuringAndRelatedActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestructuringAndRelatedActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestructuringAndRelatedActivitiesAbstract" xlink:to="lab_us-gaap_RestructuringAndRelatedActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ProductOrServiceAxis_019e1df9-295d-7bf1-95d2-ac8e6b8d84c9_terseLabel_en-US" xlink:label="lab_srt_ProductOrServiceAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Product and Service [Axis]</link:label>
    <link:label id="lab_srt_ProductOrServiceAxis_label_en-US" xlink:label="lab_srt_ProductOrServiceAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Product and Service [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ProductOrServiceAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ProductOrServiceAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ProductOrServiceAxis" xlink:to="lab_srt_ProductOrServiceAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember_terseLabel_en-US" xlink:label="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table</link:label>
    <link:label id="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember_label_en-US" xlink:label="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:to="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTable_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTable_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardsCloseToMnpiDiscTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscTable" xlink:to="lab_ecd_AwardsCloseToMnpiDiscTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockMember_019e1df9-2898-7605-8d6a-f899e7d819bc_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_label_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember" xlink:to="lab_us-gaap_CommonStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DebtInstrumentNumberOfAdvancesWithDrawnAmounts_019f9025-5fc7-7b8d-a483-55ca8be87036_terseLabel_en-US" xlink:label="lab_psa_DebtInstrumentNumberOfAdvancesWithDrawnAmounts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Numberof advances</link:label>
    <link:label id="lab_psa_DebtInstrumentNumberOfAdvancesWithDrawnAmounts_label_en-US" xlink:label="lab_psa_DebtInstrumentNumberOfAdvancesWithDrawnAmounts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Advances With Drawn Amounts</link:label>
    <link:label id="lab_psa_DebtInstrumentNumberOfAdvancesWithDrawnAmounts_documentation_en-US" xlink:label="lab_psa_DebtInstrumentNumberOfAdvancesWithDrawnAmounts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Advances With Drawn Amounts</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_DebtInstrumentNumberOfAdvancesWithDrawnAmounts" xlink:href="psa-20260630.xsd#psa_DebtInstrumentNumberOfAdvancesWithDrawnAmounts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_DebtInstrumentNumberOfAdvancesWithDrawnAmounts" xlink:to="lab_psa_DebtInstrumentNumberOfAdvancesWithDrawnAmounts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationLiability_019f7fe2-d427-7634-a35f-1350306e677c_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earn-out consideration</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationLiability_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Contingent Consideration, Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BusinessCombinationContingentConsiderationLiability"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:to="lab_us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeSeveranceMember_019e1df9-295d-737a-82b4-de7b5f6b26e9_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeSeveranceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Related</link:label>
    <link:label id="lab_us-gaap_EmployeeSeveranceMember_label_en-US" xlink:label="lab_us-gaap_EmployeeSeveranceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee Severance [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeSeveranceMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EmployeeSeveranceMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeSeveranceMember" xlink:to="lab_us-gaap_EmployeeSeveranceMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Company Selected Measure</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Company Selected Measure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CoverAbstract_019e1df9-2898-7c2b-86eb-4efa1e8ea332_terseLabel_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:label id="lab_dei_CoverAbstract_label_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CoverAbstract" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CoverAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CoverAbstract" xlink:to="lab_dei_CoverAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueJanuary242032Member_019e1df9-295c-78b3-b174-631acb864de5_terseLabel_en-US" xlink:label="lab_psa_NotesDueJanuary242032Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due January&#160;24, 2032</link:label>
    <link:label id="lab_psa_NotesDueJanuary242032Member_label_en-US" xlink:label="lab_psa_NotesDueJanuary242032Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due January 24, 2032 [Member]</link:label>
    <link:label id="lab_psa_NotesDueJanuary242032Member_documentation_en-US" xlink:label="lab_psa_NotesDueJanuary242032Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due January 24, 2032 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueJanuary242032Member" xlink:href="psa-20260630.xsd#psa_NotesDueJanuary242032Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueJanuary242032Member" xlink:to="lab_psa_NotesDueJanuary242032Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoncontrollingInterestAbstract_019e1df9-295d-7a0a-a2d0-56246020a9dc_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Abstract]</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestAbstract_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NoncontrollingInterestAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestAbstract" xlink:to="lab_us-gaap_NoncontrollingInterestAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredCompensationArrangementWithIndividualRequisiteServicePeriod1_019e1df9-2898-7d15-a10d-f5d2993da140_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCompensationArrangementWithIndividualRequisiteServicePeriod1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Requisite service period (in years)</link:label>
    <link:label id="lab_us-gaap_DeferredCompensationArrangementWithIndividualRequisiteServicePeriod1_label_en-US" xlink:label="lab_us-gaap_DeferredCompensationArrangementWithIndividualRequisiteServicePeriod1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Compensation Arrangement with Individual, Requisite Service Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredCompensationArrangementWithIndividualRequisiteServicePeriod1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DeferredCompensationArrangementWithIndividualRequisiteServicePeriod1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCompensationArrangementWithIndividualRequisiteServicePeriod1" xlink:to="lab_us-gaap_DeferredCompensationArrangementWithIndividualRequisiteServicePeriod1" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_FinancingReceivableExtensionPeriod_019e1df9-2898-7843-bce4-c3a05dd9769a_terseLabel_en-US" xlink:label="lab_psa_FinancingReceivableExtensionPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing receivable, extension period (in years)</link:label>
    <link:label id="lab_psa_FinancingReceivableExtensionPeriod_label_en-US" xlink:label="lab_psa_FinancingReceivableExtensionPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Extension Period</link:label>
    <link:label id="lab_psa_FinancingReceivableExtensionPeriod_documentation_en-US" xlink:label="lab_psa_FinancingReceivableExtensionPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Extension Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_FinancingReceivableExtensionPeriod" xlink:href="psa-20260630.xsd#psa_FinancingReceivableExtensionPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_FinancingReceivableExtensionPeriod" xlink:to="lab_psa_FinancingReceivableExtensionPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ForwardContractIndexedToIssuersEquitySettlementAlternativesCashAtFairValue_019f5f70-0afa-7728-a693-83d365647a2b_terseLabel_en-US" xlink:label="lab_us-gaap_ForwardContractIndexedToIssuersEquitySettlementAlternativesCashAtFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward contract indexed to equity, settlement, cash, amount</link:label>
    <link:label id="lab_us-gaap_ForwardContractIndexedToIssuersEquitySettlementAlternativesCashAtFairValue_label_en-US" xlink:label="lab_us-gaap_ForwardContractIndexedToIssuersEquitySettlementAlternativesCashAtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forward Contract Indexed to Equity, Settlement, Cash, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForwardContractIndexedToIssuersEquitySettlementAlternativesCashAtFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ForwardContractIndexedToIssuersEquitySettlementAlternativesCashAtFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForwardContractIndexedToIssuersEquitySettlementAlternativesCashAtFairValue" xlink:to="lab_us-gaap_ForwardContractIndexedToIssuersEquitySettlementAlternativesCashAtFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeContractTypeDomain_019e1df9-2898-7bc0-8f82-9b41865e38ca_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeContractTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Contract [Domain]</link:label>
    <link:label id="lab_us-gaap_DerivativeContractTypeDomain_label_en-US" xlink:label="lab_us-gaap_DerivativeContractTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Contract [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeContractTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeContractTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeContractTypeDomain" xlink:to="lab_us-gaap_DerivativeContractTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_CapitalExpendituresToMaintainRealEstateFacilities_019e1df9-295c-7e29-af75-2d26a0100c1c_negatedLabel_en-US" xlink:label="lab_psa_CapitalExpendituresToMaintainRealEstateFacilities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures to maintain real estate facilities</link:label>
    <link:label id="lab_psa_CapitalExpendituresToMaintainRealEstateFacilities_label_en-US" xlink:label="lab_psa_CapitalExpendituresToMaintainRealEstateFacilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Expenditures To Maintain Real Estate Facilities</link:label>
    <link:label id="lab_psa_CapitalExpendituresToMaintainRealEstateFacilities_documentation_en-US" xlink:label="lab_psa_CapitalExpendituresToMaintainRealEstateFacilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sum of payments for capitalized expenditures to maintain existing facilities, costs incurred during the period and in previous periods.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_CapitalExpendituresToMaintainRealEstateFacilities" xlink:href="psa-20260630.xsd#psa_CapitalExpendituresToMaintainRealEstateFacilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_CapitalExpendituresToMaintainRealEstateFacilities" xlink:to="lab_psa_CapitalExpendituresToMaintainRealEstateFacilities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjsMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjsMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsAdjsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjsMember" xlink:to="lab_ecd_EqtyAwrdsAdjsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_USDollarDenominatedUnsecuredDebtMember_019e1df9-29ec-7b1f-b0d9-2d90d5042b8f_terseLabel_en-US" xlink:label="lab_psa_USDollarDenominatedUnsecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">U.S. Dollar Denominated Unsecured Debt</link:label>
    <link:label id="lab_psa_USDollarDenominatedUnsecuredDebtMember_label_en-US" xlink:label="lab_psa_USDollarDenominatedUnsecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">U.S. Dollar Denominated Unsecured Debt [Member]</link:label>
    <link:label id="lab_psa_USDollarDenominatedUnsecuredDebtMember_documentation_en-US" xlink:label="lab_psa_USDollarDenominatedUnsecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">U.S. Dollar Denominated Unsecured Debt [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_USDollarDenominatedUnsecuredDebtMember" xlink:href="psa-20260630.xsd#psa_USDollarDenominatedUnsecuredDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_USDollarDenominatedUnsecuredDebtMember" xlink:to="lab_psa_USDollarDenominatedUnsecuredDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_019e1df9-29ec-747c-900c-c573367042cb_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities and equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill_019e1df9-295c-7e05-bbd8-31f894ebb7b2_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill and other intangible assets, net</link:label>
    <link:label id="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill_019e1df9-295c-7efc-9eb3-33cabe7d7500_totalLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net Book Value</link:label>
    <link:label id="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill_label_en-US" xlink:label="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Including Goodwill, after Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetIncludingGoodwill" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IntangibleAssetsNetIncludingGoodwill"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IntangibleAssetsNetIncludingGoodwill" xlink:to="lab_us-gaap_IntangibleAssetsNetIncludingGoodwill" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Stock Option</link:label>
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_label_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Option [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeStockOptionMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EmployeeStockOptionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeStockOptionMember" xlink:to="lab_us-gaap_EmployeeStockOptionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterest_019e1df9-2898-7edb-be3b-883f4549558d_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterest_label_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest" xlink:to="lab_us-gaap_MinorityInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_019e1df9-29ec-7936-8afe-4072ffc6b6d5_terseLabel_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segments [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_label_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementBusinessSegmentsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis" xlink:to="lab_us-gaap_StatementBusinessSegmentsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Additional402vDisclosureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_Additional402vDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional 402(v) Disclosure</link:label>
    <link:label id="lab_ecd_Additional402vDisclosureTextBlock_label_en-US" xlink:label="lab_ecd_Additional402vDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional 402(v) Disclosure [Text Block]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Additional402vDisclosureTextBlock" xlink:to="lab_ecd_Additional402vDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestructuringCharges_019e1df9-29ec-73e3-bb59-14155156386a_terseLabel_en-US" xlink:label="lab_us-gaap_RestructuringCharges" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Costs</link:label>
    <link:label id="lab_us-gaap_RestructuringCharges_label_en-US" xlink:label="lab_us-gaap_RestructuringCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restructuring Charges</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestructuringCharges" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestructuringCharges"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestructuringCharges" xlink:to="lab_us-gaap_RestructuringCharges" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyDomain_019e1df9-29ec-7d09-8397-faa77ae9ce76_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Domain]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyDomain_label_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related and Nonrelated Parties [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyDomain" xlink:to="lab_us-gaap_RelatedPartyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TabularListTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_TabularListTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tabular List, Table</link:label>
    <link:label id="lab_ecd_TabularListTableTextBlock_label_en-US" xlink:label="lab_ecd_TabularListTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tabular List [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TabularListTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TabularListTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TabularListTableTextBlock" xlink:to="lab_ecd_TabularListTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapital_019e1df9-29ec-7d69-9580-d1916274d682_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Paid-in capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapital_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid in Capital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapital" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdditionalPaidInCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapital" xlink:to="lab_us-gaap_AdditionalPaidInCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetRentableArea_019e1df9-295d-7a56-ac49-191671e8f9db_terseLabel_en-US" xlink:label="lab_us-gaap_NetRentableArea" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net rentable area (in square feet)</link:label>
    <link:label id="lab_us-gaap_NetRentableArea_label_en-US" xlink:label="lab_us-gaap_NetRentableArea" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Rentable Area</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetRentableArea" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetRentableArea"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetRentableArea" xlink:to="lab_us-gaap_NetRentableArea" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostNewlyDevelopedFacilitiesOpenedForOperation_019e1df9-295c-7ab0-978d-6fabec595eae_terseLabel_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostNewlyDevelopedFacilitiesOpenedForOperation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Developed or expanded facilities opened for operation</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostNewlyDevelopedFacilitiesOpenedForOperation_label_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostNewlyDevelopedFacilitiesOpenedForOperation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property At Cost, Newly Developed Facilities Opened For Operation</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAtCostNewlyDevelopedFacilitiesOpenedForOperation_documentation_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAtCostNewlyDevelopedFacilitiesOpenedForOperation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property At Cost, Newly Developed Facilities Opened For Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RealEstateInvestmentPropertyAtCostNewlyDevelopedFacilitiesOpenedForOperation" xlink:href="psa-20260630.xsd#psa_RealEstateInvestmentPropertyAtCostNewlyDevelopedFacilitiesOpenedForOperation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RealEstateInvestmentPropertyAtCostNewlyDevelopedFacilitiesOpenedForOperation" xlink:to="lab_psa_RealEstateInvestmentPropertyAtCostNewlyDevelopedFacilitiesOpenedForOperation" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueSeptember92030Member_019e1df9-2898-75dc-a062-b095609bcee0_terseLabel_en-US" xlink:label="lab_psa_NotesDueSeptember92030Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due September 9, 2030</link:label>
    <link:label id="lab_psa_NotesDueSeptember92030Member_label_en-US" xlink:label="lab_psa_NotesDueSeptember92030Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due September 9, 2030 [Member]</link:label>
    <link:label id="lab_psa_NotesDueSeptember92030Member_documentation_en-US" xlink:label="lab_psa_NotesDueSeptember92030Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due September 9, 2030</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueSeptember92030Member" xlink:href="psa-20260630.xsd#psa_NotesDueSeptember92030Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueSeptember92030Member" xlink:to="lab_psa_NotesDueSeptember92030Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireIntangibleAssets_019e1df9-295d-73ca-96fd-5b5204b2629f_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments to acquire intangible assets</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireIntangibleAssets_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Intangible Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireIntangibleAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToAcquireIntangibleAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireIntangibleAssets" xlink:to="lab_us-gaap_PaymentsToAcquireIntangibleAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ParentMember_019e1df9-29ec-74f9-8cd0-1e905f097be4_terseLabel_en-US" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Public Storage Shareholders' Equity</link:label>
    <link:label id="lab_us-gaap_ParentMember_label_en-US" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Parent [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ParentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ParentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ParentMember" xlink:to="lab_us-gaap_ParentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease_019f80bf-6f3a-78a0-8a94-031925379e01_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Hedged assets</link:label>
    <link:label id="lab_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease_label_en-US" xlink:label="lab_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease" xlink:to="lab_us-gaap_HedgedAssetFairValueHedgeCumulativeIncreaseDecrease" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_019e1df9-29ec-73d5-b575-8e81497ef4cb_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_019e1df9-2898-79e6-af21-c62e9133d3a2_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remainder of 2026</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear"/>
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    <link:label id="lab_psa_SeriesT1PreferredUnitsMember_019f91fa-5422-7b69-ba69-11ea5c8eb285_terseLabel_en-US" xlink:label="lab_psa_SeriesT1PreferredUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series T-1 Preferred Units</link:label>
    <link:label id="lab_psa_SeriesT1PreferredUnitsMember_label_en-US" xlink:label="lab_psa_SeriesT1PreferredUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series T-1 Preferred Units [Member]</link:label>
    <link:label id="lab_psa_SeriesT1PreferredUnitsMember_documentation_en-US" xlink:label="lab_psa_SeriesT1PreferredUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series T-1 Preferred Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesT1PreferredUnitsMember" xlink:href="psa-20260630.xsd#psa_SeriesT1PreferredUnitsMember"/>
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    <link:label id="lab_ecd_AwardsCloseToMnpiDiscIndName_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscIndName_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardsCloseToMnpiDiscIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscIndName" xlink:to="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_019e1df9-295d-7a82-9d1a-e7c75f9cda08_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity:</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_terseLabel_en-US" xlink:label="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested</link:label>
    <link:label id="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_label_en-US" xlink:label="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:to="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_019e1df9-295d-7bf1-a448-48d8be1aa2d3_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General and administrative</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_019e1df9-295d-70dd-a5ff-27e93f361b25_negatedLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">General and administrative</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_label_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and Administrative Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GeneralAndAdministrativeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:to="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DevelopmentInProcessDevelopedOrRedevelopedFacilitiesOpenedForOperation_019e1df9-29ec-7730-b1e8-14b77b6fc90c_negatedLabel_en-US" xlink:label="lab_psa_DevelopmentInProcessDevelopedOrRedevelopedFacilitiesOpenedForOperation" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Developed or expanded facilities opened for operation</link:label>
    <link:label id="lab_psa_DevelopmentInProcessDevelopedOrRedevelopedFacilitiesOpenedForOperation_label_en-US" xlink:label="lab_psa_DevelopmentInProcessDevelopedOrRedevelopedFacilitiesOpenedForOperation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Development In Process, Developed Or Redeveloped Facilities Opened For Operation</link:label>
    <link:label id="lab_psa_DevelopmentInProcessDevelopedOrRedevelopedFacilitiesOpenedForOperation_documentation_en-US" xlink:label="lab_psa_DevelopmentInProcessDevelopedOrRedevelopedFacilitiesOpenedForOperation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Development In Process, Developed Or Redeveloped Facilities Opened For Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_DevelopmentInProcessDevelopedOrRedevelopedFacilitiesOpenedForOperation" xlink:href="psa-20260630.xsd#psa_DevelopmentInProcessDevelopedOrRedevelopedFacilitiesOpenedForOperation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_DevelopmentInProcessDevelopedOrRedevelopedFacilitiesOpenedForOperation" xlink:to="lab_psa_DevelopmentInProcessDevelopedOrRedevelopedFacilitiesOpenedForOperation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_019e1df9-2898-7c8f-a51f-b25b9df839d6_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesAuthorized" xlink:to="lab_us-gaap_PreferredStockSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesMPreferredStockMember_019e1df9-29ec-76a9-a56a-65ff4496022b_terseLabel_en-US" xlink:label="lab_psa_SeriesMPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series M Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesMPreferredStockMember_019e1df9-29ec-74ac-a649-9e4eb38d1e1b_verboseLabel_en-US" xlink:label="lab_psa_SeriesMPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series M</link:label>
    <link:label id="lab_psa_SeriesMPreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesMPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series M Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesMPreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesMPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Outstanding nonredeemable series M preferred stock or outstanding series M preferred stock. Classified within stockholders' equity if nonredeemable or redeemable solely at the option of the issuer. Classified within temporary equity if redemption is outside the control of the issuer.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesMPreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesMPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesMPreferredStockMember" xlink:to="lab_psa_SeriesMPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockValue_019e1df9-2898-7be3-88f8-8ddf06c7d27e_verboseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Preferred Shares, $0.01 par value, 100,000,000 shares authorized, 174,000 shares issued (in series) and outstanding, (174,000 shares at December 31, 2024) at liquidation preference</link:label>
    <link:label id="lab_us-gaap_PreferredStockValue_label_en-US" xlink:label="lab_us-gaap_PreferredStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Value, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockValue" xlink:to="lab_us-gaap_PreferredStockValue" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueApril112039Member_019e1df9-2898-793c-91a0-bb2890ebce51_terseLabel_en-US" xlink:label="lab_psa_NotesDueApril112039Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due April 11, 2039</link:label>
    <link:label id="lab_psa_NotesDueApril112039Member_label_en-US" xlink:label="lab_psa_NotesDueApril112039Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due April 11, 2039 [Member]</link:label>
    <link:label id="lab_psa_NotesDueApril112039Member_documentation_en-US" xlink:label="lab_psa_NotesDueApril112039Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Due April 11, 2039</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueApril112039Member" xlink:href="psa-20260630.xsd#psa_NotesDueApril112039Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueApril112039Member" xlink:to="lab_psa_NotesDueApril112039Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToCompAxis_terseLabel_en-US" xlink:label="lab_ecd_AdjToCompAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation:</link:label>
    <link:label id="lab_ecd_AdjToCompAxis_label_en-US" xlink:label="lab_ecd_AdjToCompAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToCompAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToCompAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToCompAxis" xlink:to="lab_ecd_AdjToCompAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfRealEstateProperties_019e1df9-2898-7722-acc9-952e6672812f_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of self-storage facilities</link:label>
    <link:label id="lab_us-gaap_NumberOfRealEstateProperties_label_en-US" xlink:label="lab_us-gaap_NumberOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Real Estate Properties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfRealEstateProperties" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfRealEstateProperties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfRealEstateProperties" xlink:to="lab_us-gaap_NumberOfRealEstateProperties" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNetAbstract_019e1df9-29ec-7dd1-b1a1-30def3acedb9_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate facilities, at cost:</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNetAbstract_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Net [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateInvestmentPropertyNetAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyNetAbstract" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyNetAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfStockDomain_019e1df9-295d-7e5c-94a8-58e16ee1e300_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockDomain_label_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ClassOfStockDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockDomain" xlink:to="lab_us-gaap_ClassOfStockDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestructuringCostAndReserveLineItems_019e1df9-2898-7afa-bbe6-771123d684e1_terseLabel_en-US" xlink:label="lab_us-gaap_RestructuringCostAndReserveLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restructuring Cost and Reserve [Line Items]</link:label>
    <link:label id="lab_us-gaap_RestructuringCostAndReserveLineItems_label_en-US" xlink:label="lab_us-gaap_RestructuringCostAndReserveLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restructuring Cost and Reserve [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestructuringCostAndReserveLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestructuringCostAndReserveLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestructuringCostAndReserveLineItems" xlink:to="lab_us-gaap_RestructuringCostAndReserveLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Rule10b51ArrTrmntdFlag_terseLabel_en-US" xlink:label="lab_ecd_Rule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Terminated</link:label>
    <link:label id="lab_ecd_Rule10b51ArrTrmntdFlag_label_en-US" xlink:label="lab_ecd_Rule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Terminated [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Rule10b51ArrTrmntdFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_Rule10b51ArrTrmntdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Rule10b51ArrTrmntdFlag" xlink:to="lab_ecd_Rule10b51ArrTrmntdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtErrCompAmt_terseLabel_en-US" xlink:label="lab_ecd_AggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Amount</link:label>
    <link:label id="lab_ecd_AggtErrCompAmt_label_en-US" xlink:label="lab_ecd_AggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtErrCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtErrCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtErrCompAmt" xlink:to="lab_ecd_AggtErrCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestPaidNet_019e1df9-29ec-7a93-a94f-b89431785497_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Cash paid for interest, net of amounts capitalized</link:label>
    <link:label id="lab_us-gaap_InterestPaidNet_label_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Paid, Excluding Capitalized Interest, Operating Activity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestPaidNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPaidNet" xlink:to="lab_us-gaap_InterestPaidNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_019e1df9-29ec-7483-96f3-6e78aecb94af_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfCashFlowsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ContractualObligationDueInNextTwelveMonths_019e1df9-2898-73e9-8bfd-72d98a3592b2_terseLabel_en-US" xlink:label="lab_us-gaap_ContractualObligationDueInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Construction commitments 2027</link:label>
    <link:label id="lab_us-gaap_ContractualObligationDueInNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_ContractualObligationDueInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contractual Obligation, to be Paid, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ContractualObligationDueInNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ContractualObligationDueInNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ContractualObligationDueInNextTwelveMonths" xlink:to="lab_us-gaap_ContractualObligationDueInNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherCommitment_019e1df9-29ec-7632-b9e2-0e2db2ac55a4_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfunded loan commitment</link:label>
    <link:label id="lab_us-gaap_OtherCommitment_label_en-US" xlink:label="lab_us-gaap_OtherCommitment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Commitment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherCommitment" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherCommitment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitment" xlink:to="lab_us-gaap_OtherCommitment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromRedemptions_019e1df9-295c-7ac6-803e-2f0f3f2477af_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Acquisition of noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromRedemptions_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterestDecreaseFromRedemptions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:to="lab_us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTextBlock_019e1df9-29ec-7b72-859f-5b73957b113d_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Preferred Shares</link:label>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Stock by Class [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfStockByClassTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfStockByClassTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfStockByClassTextBlock" xlink:to="lab_us-gaap_ScheduleOfStockByClassTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditFacilityAxis_019e1df9-295c-7c69-b14c-f9a9fe4c66a3_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility [Axis]</link:label>
    <link:label id="lab_us-gaap_CreditFacilityAxis_label_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditFacilityAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CreditFacilityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityAxis" xlink:to="lab_us-gaap_CreditFacilityAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock_019e1df9-29ec-7047-9642-fd7fd1dac703_terseLabel_en-US" xlink:label="lab_us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Corporate Transformation Costs</link:label>
    <link:label id="lab_us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restructuring and Related Activities Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock" xlink:to="lab_us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrSecuritiesAggAvailAmt_terseLabel_en-US" xlink:label="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Available</link:label>
    <link:label id="lab_ecd_TrdArrSecuritiesAggAvailAmt_label_en-US" xlink:label="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Securities Aggregate Available Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrSecuritiesAggAvailAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrSecuritiesAggAvailAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrSecuritiesAggAvailAmt" xlink:to="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash_019e1df9-295c-72a8-b594-c66f57c2514f_terseLabel_en-US" xlink:label="lab_psa_DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock dividends paid in aggregate</link:label>
    <link:label id="lab_psa_DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash_label_en-US" xlink:label="lab_psa_DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends And Distributions, Common Stock And Share-Based Payment Arrangement, Cash</link:label>
    <link:label id="lab_psa_DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash_documentation_en-US" xlink:label="lab_psa_DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividends And Distributions, Common Stock And Share-Based Payment Arrangement, Cash</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash" xlink:href="psa-20260630.xsd#psa_DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash" xlink:to="lab_psa_DividendsAndDistributionsCommonStockAndShareBasedPaymentArrangementCash" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MeasureName_terseLabel_en-US" xlink:label="lab_ecd_MeasureName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_MeasureName_label_en-US" xlink:label="lab_ecd_MeasureName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measure Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MeasureName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MeasureName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MeasureName" xlink:to="lab_ecd_MeasureName" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SaleOfStockExpectedConsiderationOnTransaction_019f7d8e-3ee3-7328-adb7-c54314ef1efc_terseLabel_en-US" xlink:label="lab_psa_SaleOfStockExpectedConsiderationOnTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expected consideration</link:label>
    <link:label id="lab_psa_SaleOfStockExpectedConsiderationOnTransaction_label_en-US" xlink:label="lab_psa_SaleOfStockExpectedConsiderationOnTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Expected Consideration On Transaction</link:label>
    <link:label id="lab_psa_SaleOfStockExpectedConsiderationOnTransaction_documentation_en-US" xlink:label="lab_psa_SaleOfStockExpectedConsiderationOnTransaction" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Expected Consideration On Transaction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SaleOfStockExpectedConsiderationOnTransaction" xlink:href="psa-20260630.xsd#psa_SaleOfStockExpectedConsiderationOnTransaction"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SaleOfStockExpectedConsiderationOnTransaction" xlink:to="lab_psa_SaleOfStockExpectedConsiderationOnTransaction" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PayVsPerformanceDisclosureLineItems_label_en-US" xlink:label="lab_ecd_PayVsPerformanceDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PayVsPerformanceDisclosureLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PayVsPerformanceDisclosureLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PayVsPerformanceDisclosureLineItems" xlink:to="lab_ecd_PayVsPerformanceDisclosureLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_019e1df9-295d-77ce-948b-b9ba921baa77_terseLabel_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Various lease commitments 2030</link:label>
    <link:label id="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive_label_en-US" xlink:label="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessee, Operating Lease, Liability, to be Paid, Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:to="lab_us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFive" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_019e1df9-295c-7270-8058-00875783ee9c_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentLineItems" xlink:to="lab_us-gaap_DebtInstrumentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PvpTable_terseLabel_en-US" xlink:label="lab_ecd_PvpTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure</link:label>
    <link:label id="lab_ecd_PvpTable_label_en-US" xlink:label="lab_ecd_PvpTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PvpTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PvpTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PvpTable" xlink:to="lab_ecd_PvpTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationConsiderationTransferred1_019e1df9-2898-7c66-82dc-7d60ba1af005_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationConsiderationTransferred1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business combination, consideration transferred</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationConsiderationTransferred1_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationConsiderationTransferred1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Consideration Transferred</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BusinessCombinationConsiderationTransferred1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationConsiderationTransferred1" xlink:to="lab_us-gaap_BusinessCombinationConsiderationTransferred1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_019e1df9-2898-7551-91fb-395e900cac72_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Paid-in Capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdditionalPaidInCapitalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:to="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFilerCategory_019e1df9-295d-7a82-99fe-15a5b010449b_terseLabel_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:label id="lab_dei_EntityFilerCategory_label_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFilerCategory" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFilerCategory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory" xlink:to="lab_dei_EntityFilerCategory" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_019e1df9-295d-7d2f-a02a-5eb9149538e4_terseLabel_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indefinite-lived Intangible Assets [Axis]</link:label>
    <link:label id="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis_label_en-US" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Indefinite-Lived, Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_019e1df9-295d-70c1-9f85-4bac50dd5536_terseLabel_en-US" xlink:label="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued and other liabilities</link:label>
    <link:label id="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccruedLiabilitiesCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:to="lab_us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NotesDueMay12028Member_019e1df9-29ec-7431-a043-dc5a94f8ad00_terseLabel_en-US" xlink:label="lab_psa_NotesDueMay12028Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes due May&#160;1, 2028</link:label>
    <link:label id="lab_psa_NotesDueMay12028Member_label_en-US" xlink:label="lab_psa_NotesDueMay12028Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Due May 1, 2028 [Member]</link:label>
    <link:label id="lab_psa_NotesDueMay12028Member_documentation_en-US" xlink:label="lab_psa_NotesDueMay12028Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes due May 1, 2028 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NotesDueMay12028Member" xlink:href="psa-20260630.xsd#psa_NotesDueMay12028Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NotesDueMay12028Member" xlink:to="lab_psa_NotesDueMay12028Member" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_NumberOfSelfStorageFacilitiesToBeAcquired_019e1df9-2898-79a2-91a2-8588769ec1f3_terseLabel_en-US" xlink:label="lab_psa_NumberOfSelfStorageFacilitiesToBeAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of self-storage facilities acquired</link:label>
    <link:label id="lab_psa_NumberOfSelfStorageFacilitiesToBeAcquired_label_en-US" xlink:label="lab_psa_NumberOfSelfStorageFacilitiesToBeAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Self-Storage Facilities To Be Acquired</link:label>
    <link:label id="lab_psa_NumberOfSelfStorageFacilitiesToBeAcquired_documentation_en-US" xlink:label="lab_psa_NumberOfSelfStorageFacilitiesToBeAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Self-Storage Facilities To Be Acquired</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_NumberOfSelfStorageFacilitiesToBeAcquired" xlink:href="psa-20260630.xsd#psa_NumberOfSelfStorageFacilitiesToBeAcquired"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_NumberOfSelfStorageFacilitiesToBeAcquired" xlink:to="lab_psa_NumberOfSelfStorageFacilitiesToBeAcquired" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrIndName_terseLabel_en-US" xlink:label="lab_ecd_TrdArrIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_TrdArrIndName_label_en-US" xlink:label="lab_ecd_TrdArrIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrIndName" xlink:to="lab_ecd_TrdArrIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_019e1df9-29ec-7f6c-a7c3-0bda241cda69_verboseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Cash and equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_TrusteesAndOfficersMember_019e1df9-2898-7c3d-a249-09cbd4844c36_terseLabel_en-US" xlink:label="lab_psa_TrusteesAndOfficersMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trustees and Officers</link:label>
    <link:label id="lab_psa_TrusteesAndOfficersMember_label_en-US" xlink:label="lab_psa_TrusteesAndOfficersMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trustees And Officers [Member]</link:label>
    <link:label id="lab_psa_TrusteesAndOfficersMember_documentation_en-US" xlink:label="lab_psa_TrusteesAndOfficersMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Trustees And Officers</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_TrusteesAndOfficersMember" xlink:href="psa-20260630.xsd#psa_TrusteesAndOfficersMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_TrusteesAndOfficersMember" xlink:to="lab_psa_TrusteesAndOfficersMember" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_IncrementalCommonSharesAttributableToDilutiveEffectOfNoncontrollingInterestShares_019f7d3a-96cb-79a9-9cb2-5895e8ce4e8e_terseLabel_en-US" xlink:label="lab_psa_IncrementalCommonSharesAttributableToDilutiveEffectOfNoncontrollingInterestShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net effect of noncontrolling interest shares - based on if-converted method (in shares)</link:label>
    <link:label id="lab_psa_IncrementalCommonSharesAttributableToDilutiveEffectOfNoncontrollingInterestShares_label_en-US" xlink:label="lab_psa_IncrementalCommonSharesAttributableToDilutiveEffectOfNoncontrollingInterestShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incremental Common Shares Attributable to Dilutive Effect of Noncontrolling Interest Shares</link:label>
    <link:label id="lab_psa_IncrementalCommonSharesAttributableToDilutiveEffectOfNoncontrollingInterestShares_documentation_en-US" xlink:label="lab_psa_IncrementalCommonSharesAttributableToDilutiveEffectOfNoncontrollingInterestShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Incremental Common Shares Attributable to Dilutive Effect of Noncontrolling Interest Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_IncrementalCommonSharesAttributableToDilutiveEffectOfNoncontrollingInterestShares" xlink:href="psa-20260630.xsd#psa_IncrementalCommonSharesAttributableToDilutiveEffectOfNoncontrollingInterestShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_IncrementalCommonSharesAttributableToDilutiveEffectOfNoncontrollingInterestShares" xlink:to="lab_psa_IncrementalCommonSharesAttributableToDilutiveEffectOfNoncontrollingInterestShares" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CoSelectedMeasureAmt_terseLabel_en-US" xlink:label="lab_ecd_CoSelectedMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Selected Measure Amount</link:label>
    <link:label id="lab_ecd_CoSelectedMeasureAmt_label_en-US" xlink:label="lab_ecd_CoSelectedMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Company Selected Measure Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CoSelectedMeasureAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CoSelectedMeasureAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CoSelectedMeasureAmt" xlink:to="lab_ecd_CoSelectedMeasureAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_019e1df9-2898-7d05-8dd9-13e4a3d5789c_verboseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Distributions from cumulative equity in earnings of unconsolidated real estate entity</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_019e1df9-2898-718d-b38b-5fba2a7edf53_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash distribution received</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Equity Method Investment, Distribution</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentDividendsOrDistributions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:to="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeriesFPreferredStockMember_019e1df9-2898-7c5c-a192-5939e93fe321_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesFPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series F Preferred Stock</link:label>
    <link:label id="lab_us-gaap_SeriesFPreferredStockMember_019e1df9-2898-7d26-a4e7-27422aa3b424_verboseLabel_en-US" xlink:label="lab_us-gaap_SeriesFPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series F</link:label>
    <link:label id="lab_us-gaap_SeriesFPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesFPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series F Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesFPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesFPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesFPreferredStockMember" xlink:to="lab_us-gaap_SeriesFPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_019e1df9-29ec-722c-8aa1-70f722c4864a_verboseLabel_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_019e1df9-29ec-7838-81ae-c8eed912deaf_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_019e1df9-29ec-7ea8-b8c5-c2593ce76bea_negatedLabel_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_label_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DepreciationDepletionAndAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationDepletionAndAmortization" xlink:to="lab_us-gaap_DepreciationDepletionAndAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PublicUtilitiesMember_019e1df9-2898-7cdd-91f9-982f4e0df331_terseLabel_en-US" xlink:label="lab_us-gaap_PublicUtilitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Utilities</link:label>
    <link:label id="lab_us-gaap_PublicUtilitiesMember_label_en-US" xlink:label="lab_us-gaap_PublicUtilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Public Utilities [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PublicUtilitiesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PublicUtilitiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PublicUtilitiesMember" xlink:to="lab_us-gaap_PublicUtilitiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_019e1df9-295d-7e82-82d9-1b73469f45ef_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of common shares in connection with share-based compensation (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTable_019e1df9-29ec-7b76-b4f0-fdadb75a5485_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Stock by Class [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock, Class of Stock [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfStockByClassTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfStockByClassTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfStockByClassTable" xlink:to="lab_us-gaap_ScheduleOfStockByClassTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProfitLoss_019e1df9-2898-770b-a681-df9936ce1601_totalLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_019e1df9-2898-7bd0-a7f5-28eb76b98cee_terseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_label_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfitLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss" xlink:to="lab_us-gaap_ProfitLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAbstract_019e1df9-2898-77d3-92f2-caa4a42ef21f_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Abstract]</link:label>
    <link:label id="lab_us-gaap_RealEstateAbstract_label_en-US" xlink:label="lab_us-gaap_RealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAbstract" xlink:to="lab_us-gaap_RealEstateAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_019f7d43-d1c3-70ac-b9c9-3a277e8db685_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from disposition of real estate investments</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale, Real Estate, Held-for-Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment"/>
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    <link:label id="lab_ecd_NonPeoNeoMember_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO</link:label>
    <link:label id="lab_ecd_NonPeoNeoMember_label_en-US" xlink:label="lab_ecd_NonPeoNeoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonPeoNeoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoMember" xlink:to="lab_ecd_NonPeoNeoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeniorNotesMember_019e1df9-2898-7ad4-8a39-e21bdf842b7b_terseLabel_en-US" xlink:label="lab_us-gaap_SeniorNotesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Notes</link:label>
    <link:label id="lab_us-gaap_SeniorNotesMember_label_en-US" xlink:label="lab_us-gaap_SeniorNotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeniorNotesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeniorNotesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeniorNotesMember" xlink:to="lab_us-gaap_SeniorNotesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine1_019e1df9-2898-72fa-8a13-421038efaacb_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine1_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine1"/>
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    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_019e1df9-2898-779f-99af-e46ea8e31be3_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Income tax (provision) benefit</link:label>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeriesHPreferredStockMember_019e1df9-29ec-7f3a-9699-136a5ed353d9_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesHPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series H Preferred Stock</link:label>
    <link:label id="lab_us-gaap_SeriesHPreferredStockMember_019e1df9-29ec-7a44-a8db-596faf7d34d1_verboseLabel_en-US" xlink:label="lab_us-gaap_SeriesHPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series H</link:label>
    <link:label id="lab_us-gaap_SeriesHPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesHPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series H Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesHPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SeriesHPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesHPreferredStockMember" xlink:to="lab_us-gaap_SeriesHPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_019e1df9-295c-78b2-bc2e-820720ec66db_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency exchange gain (loss)</link:label>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_label_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss), Foreign Currency Transaction, before Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:to="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAccumulatedDepreciationRollForward_019e1df9-295d-7bc5-ab77-969805c63a4d_terseLabel_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAccumulatedDepreciationRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated depreciation:</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAccumulatedDepreciationRollForward_label_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAccumulatedDepreciationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Accumulated Depreciation [Roll Forward]</link:label>
    <link:label id="lab_psa_RealEstateInvestmentPropertyAccumulatedDepreciationRollForward_documentation_en-US" xlink:label="lab_psa_RealEstateInvestmentPropertyAccumulatedDepreciationRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Accumulated Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RealEstateInvestmentPropertyAccumulatedDepreciationRollForward" xlink:href="psa-20260630.xsd#psa_RealEstateInvestmentPropertyAccumulatedDepreciationRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RealEstateInvestmentPropertyAccumulatedDepreciationRollForward" xlink:to="lab_psa_RealEstateInvestmentPropertyAccumulatedDepreciationRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMethodTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing Method</link:label>
    <link:label id="lab_ecd_AwardTmgMethodTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Method [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMethodTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgMethodTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMethodTextBlock" xlink:to="lab_ecd_AwardTmgMethodTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_019e1df9-2898-7a4d-8889-4114be913932_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net (decrease) increase in cash and equivalents, including restricted cash</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ScenarioForecastMember_019f85bc-b8de-7ab3-bb3a-b206fe3cefe7_terseLabel_en-US" xlink:label="lab_srt_ScenarioForecastMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forecast</link:label>
    <link:label id="lab_srt_ScenarioForecastMember_label_en-US" xlink:label="lab_srt_ScenarioForecastMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forecast [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScenarioForecastMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ScenarioForecastMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScenarioForecastMember" xlink:to="lab_srt_ScenarioForecastMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Explanation of Impracticability</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Explanation of Impracticability [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:to="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_AggregateCoverageOfTenantsParticipating_019e1df9-29ec-78fe-874c-eb28034c2fbc_terseLabel_en-US" xlink:label="lab_psa_AggregateCoverageOfTenantsParticipating" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate coverage of tenants participating in insurance program</link:label>
    <link:label id="lab_psa_AggregateCoverageOfTenantsParticipating_label_en-US" xlink:label="lab_psa_AggregateCoverageOfTenantsParticipating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Coverage Of Tenants Participating</link:label>
    <link:label id="lab_psa_AggregateCoverageOfTenantsParticipating_documentation_en-US" xlink:label="lab_psa_AggregateCoverageOfTenantsParticipating" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The aggregate coverage of tenant insurance under our tenant insurance program based on the number of certificate holders held by tenants at our self-storage facilities participating in our tenant insurance program at the end of the reporting period.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_AggregateCoverageOfTenantsParticipating" xlink:href="psa-20260630.xsd#psa_AggregateCoverageOfTenantsParticipating"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_AggregateCoverageOfTenantsParticipating" xlink:to="lab_psa_AggregateCoverageOfTenantsParticipating" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLoss_019e1df9-2898-7364-8863-f297630fb4ff_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income allocable to Public Storage shareholders</link:label>
    <link:label id="lab_us-gaap_NetIncomeLoss_label_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLoss" xlink:to="lab_us-gaap_NetIncomeLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_019e1df9-295c-7df3-bd2e-445911388c5c_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Axis]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeAxis" xlink:to="lab_us-gaap_LongtermDebtTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ErrCompAnalysisTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ErrCompAnalysisTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Erroneous Compensation Analysis</link:label>
    <link:label id="lab_ecd_ErrCompAnalysisTextBlock_label_en-US" xlink:label="lab_ecd_ErrCompAnalysisTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Erroneous Compensation Analysis [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ErrCompAnalysisTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ErrCompAnalysisTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ErrCompAnalysisTextBlock" xlink:to="lab_ecd_ErrCompAnalysisTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementTable_019e1df9-29ec-7e46-b826-39550a65d5ab_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:label id="lab_us-gaap_StatementTable_label_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable" xlink:to="lab_us-gaap_StatementTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MaterialReconcilingItemsMember_019e1df9-295d-7237-aaf0-b1c554aa89d9_terseLabel_en-US" xlink:label="lab_us-gaap_MaterialReconcilingItemsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Reconciling Items</link:label>
    <link:label id="lab_us-gaap_MaterialReconcilingItemsMember_label_en-US" xlink:label="lab_us-gaap_MaterialReconcilingItemsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MaterialReconcilingItemsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MaterialReconcilingItemsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MaterialReconcilingItemsMember" xlink:to="lab_us-gaap_MaterialReconcilingItemsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDateAxis_terseLabel_en-US" xlink:label="lab_ecd_RestatementDateAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement Determination Date:</link:label>
    <link:label id="lab_ecd_RestatementDateAxis_label_en-US" xlink:label="lab_ecd_RestatementDateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Determination Date [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDateAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RestatementDateAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDateAxis" xlink:to="lab_ecd_RestatementDateAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_SeriesIPreferredStockMember_019e1df9-29ec-7356-be20-c038e4ad72a2_terseLabel_en-US" xlink:label="lab_psa_SeriesIPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series I Preferred Stock</link:label>
    <link:label id="lab_psa_SeriesIPreferredStockMember_019e1df9-29ec-77b7-8cd2-114f76d91999_verboseLabel_en-US" xlink:label="lab_psa_SeriesIPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Series I</link:label>
    <link:label id="lab_psa_SeriesIPreferredStockMember_label_en-US" xlink:label="lab_psa_SeriesIPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series I Preferred Stock [Member]</link:label>
    <link:label id="lab_psa_SeriesIPreferredStockMember_documentation_en-US" xlink:label="lab_psa_SeriesIPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Outstanding nonredeemable series I preferred stock or outstanding series I preferred stock. Classified within stockholders' equity if nonredeemable or redeemable solely at the option of the issuer. Classified within temporary equity if redemption is outside the control of the issuer.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_SeriesIPreferredStockMember" xlink:href="psa-20260630.xsd#psa_SeriesIPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_SeriesIPreferredStockMember" xlink:to="lab_psa_SeriesIPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_019e1df9-295c-77bd-9e58-f4af723fe187_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement, Expensed, Amount [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:to="lab_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_RealEstateFacilitiesNet_019e1df9-2898-7cfb-8bcb-a952524c7352_totalLabel_en-US" xlink:label="lab_psa_RealEstateFacilitiesNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total land and buildings, net</link:label>
    <link:label id="lab_psa_RealEstateFacilitiesNet_label_en-US" xlink:label="lab_psa_RealEstateFacilitiesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Facilities, Net</link:label>
    <link:label id="lab_psa_RealEstateFacilitiesNet_documentation_en-US" xlink:label="lab_psa_RealEstateFacilitiesNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net book value of real estate property held for investment purposes. Excludes (1) construction in process and (2) development in process.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_RealEstateFacilitiesNet" xlink:href="psa-20260630.xsd#psa_RealEstateFacilitiesNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_psa_RealEstateFacilitiesNet" xlink:to="lab_psa_RealEstateFacilitiesNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevenuesAbstract_019e1df9-29ec-7857-aed9-54dff8575fbd_terseLabel_en-US" xlink:label="lab_us-gaap_RevenuesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenues:</link:label>
    <link:label id="lab_us-gaap_RevenuesAbstract_label_en-US" xlink:label="lab_us-gaap_RevenuesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenuesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RevenuesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenuesAbstract" xlink:to="lab_us-gaap_RevenuesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnBnftsAdjFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Benefits Adjustments, Footnote</link:label>
    <link:label id="lab_ecd_PnsnBnftsAdjFnTextBlock_label_en-US" xlink:label="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Benefits Adjustments, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnBnftsAdjFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PnsnBnftsAdjFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnBnftsAdjFnTextBlock" xlink:to="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_psa_DebtInstrumentOptionalExtensionPeriod_019e1df9-295d-7551-998e-9c05480d9376_terseLabel_en-US" xlink:label="lab_psa_DebtInstrumentOptionalExtensionPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Optional extension period</link:label>
    <link:label id="lab_psa_DebtInstrumentOptionalExtensionPeriod_label_en-US" xlink:label="lab_psa_DebtInstrumentOptionalExtensionPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Optional Extension Period</link:label>
    <link:label id="lab_psa_DebtInstrumentOptionalExtensionPeriod_documentation_en-US" xlink:label="lab_psa_DebtInstrumentOptionalExtensionPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Optional Extension Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_psa_DebtInstrumentOptionalExtensionPeriod" xlink:href="psa-20260630.xsd#psa_DebtInstrumentOptionalExtensionPeriod"/>
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