MassMutual Private Wealth & Trust FSB Decreases Stock Holdings in Public Storage (NYSE:PSA)

MassMutual Private Wealth & Trust FSB cut its holdings in Public Storage (NYSE:PSA) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,634 shares of the real estate investment trust’s stock after selling 2,346 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Public Storage were worth $5,580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. UMB Bank n.a. increased its holdings in shares of Public Storage by 9.0% in the 4th quarter. UMB Bank n.a. now owns 20,296 shares of the real estate investment trust’s stock worth $6,077,000 after buying an additional 1,671 shares during the last quarter. M.E. Allison & CO. Inc. bought a new position in shares of Public Storage in the 4th quarter valued at about $224,000. Ellsworth Advisors LLC grew its position in Public Storage by 2.5% in the fourth quarter. Ellsworth Advisors LLC now owns 22,916 shares of the real estate investment trust’s stock worth $6,862,000 after acquiring an additional 563 shares in the last quarter. Premier Path Wealth Partners LLC increased its stake in Public Storage by 3.4% during the fourth quarter. Premier Path Wealth Partners LLC now owns 1,221 shares of the real estate investment trust’s stock worth $366,000 after acquiring an additional 40 shares during the last quarter. Finally, Brooklyn Investment Group raised its position in Public Storage by 3.4% during the fourth quarter. Brooklyn Investment Group now owns 1,152 shares of the real estate investment trust’s stock valued at $345,000 after purchasing an additional 38 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSA has been the subject of a number of analyst reports. Barclays lowered their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Evercore ISI lowered their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Morgan Stanley upped their price target on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company decreased their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and boosted their target price for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $344.54.

Public Storage Stock Down 0.5 %

Public Storage stock opened at $296.25 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market cap of $51.88 billion, a P/E ratio of 30.76, a P/E/G ratio of 4.65 and a beta of 0.74. The business has a fifty day moving average of $316.96 and a two-hundred day moving average of $325.63. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 11.10% of the stock is owned by corporate insiders.

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.