MassMutual Private Wealth & Trust FSB Has $5.58 Million Stock Position in Public Storage (NYSE:PSA)

MassMutual Private Wealth & Trust FSB lessened its stake in Public Storage (NYSE:PSA - Free Report) by 11.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PSA. Prospera Private Wealth LLC bought a new stake in shares of Public Storage in the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new stake in Public Storage in the third quarter valued at approximately $38,000. Compagnie Lombard Odier SCmA bought a new stake in Public Storage in the third quarter valued at approximately $50,000. Harbor Capital Advisors Inc. acquired a new stake in Public Storage in the third quarter worth $55,000. Finally, Versant Capital Management Inc boosted its position in shares of Public Storage by 301.7% during the fourth quarter. Versant Capital Management Inc now owns 237 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Insider Transactions at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction that occurred on Friday, December 13th. The stock was 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 directly owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.10% of the stock is owned by company insiders.

Public Storage Stock Down 0.5 %

Shares of NYSE:PSA traded down $1.45 during midday trading on Monday, hitting $296.25. The stock had a trading volume of 587,329 shares, compared to its average volume of 651,906. The company has a market cap of $51.88 billion, a P/E ratio of 30.76, a PEG ratio of 4.65 and a beta of 0.74. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The business's 50-day simple moving average is $316.96 and its 200-day simple moving average is $325.90. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date was Friday, December 13th. Public Storage's dividend payout ratio (DPR) is presently 124.61%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PSA shares. Deutsche Bank Aktiengesellschaft raised 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 note on Friday, January 10th. Barclays cut their price target on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company dropped their price objective on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Evercore ISI reduced 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 research note on Monday, October 14th. Finally, Morgan Stanley upped their price objective on Public Storage from $293.00 to $315.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Public Storage presently has a consensus rating of "Moderate Buy" and a consensus price target of $344.54.

Public Storage Profile

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.