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

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

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1. Name and Address of Reporting Person * TOWSLEY TEDD D   2. Issuer Name and Ticker or Trading Symbol U-Store-It Trust [YSI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Vice President and Treasurer (Last) (First) (Middle) C/O U-STORE-IT TRUST, 6745 ENGLE ROAD, SUITE 300 3. Date of Earliest Transaction (Month/Day/Year) 03/08/2006 (Street) CLEVELAND, OH 44130 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 03/08/2006   M   9,375 A $ 0 9,375 D   Common Stock 03/10/2006   M   10,000 A $ 16 19,375 D   Common Stock 03/10/2006   S   2,000 D $ 20.7401 17,375 D   Common Stock 03/10/2006   S   500 D $ 20.72 16,875 D   Common Stock 03/10/2006   S   2,000 D $ 20.67 14,875 D   Common Stock 03/10/2006   S   500 D $ 20.66 14,375 D   Common Stock 03/10/2006   S   4,600 D $ 20.75 9,775 D   Common Stock 03/10/2006   S   400 D $ 20.74 9,375 D

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

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

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

4. Transaction Code (Instr. 8)

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

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

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

8. Price of Derivative Security (Instr. 5)

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

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

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

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Deferred Share Units

(1)

03/08/2006

M

9,375

(2)

(2)

Common Stock

9,375

$ 0

9,375

D

Stock Option (right to buy)

$ 16

03/10/2006

M

10,000

(3)

10/27/2014

Common Stock

10,000

$ 0

90,000

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
TOWSLEY TEDD D C/O U-STORE-IT TRUST 6745 ENGLE ROAD, SUITE 300 CLEVELAND, OH 44130			Vice President and Treasurer

Signatures

/s/ Kathleen A. Weigand, Attorney-in-Fact		03/10/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The Deferred Share Units convert on a one for one basis.
(2)	The Deferred Share Units are payable in two equal annual installments on January 1, 2006 and 2007 unless the reporting person elects to defer receipt of such common shares to a later date. The first annual installment of 9,375 shares was delivered to the reporting person on March 8, 2006 since the reporting person was in a blackout period prior to that date.
(3)	The original Stock Option for 100,000 shares becomes exercisable in three equal annual installments on October 27, 2005, 2006 and 2007.

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