MassMutual Private Wealth & Trust FSB Has $5.43 Million Stock Holdings in Public Storage (NYSE:PSA)

MassMutual Private Wealth & Trust FSB lessened its position in shares of Public Storage (NYSE:PSA) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,142 shares of the real estate investment trust’s stock after selling 492 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Public Storage were worth $5,430,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Cohen & Steers Inc. lifted its stake in shares of Public Storage by 12.3% during the fourth quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust’s stock valued at $1,626,731,000 after acquiring an additional 592,944 shares during the period. Geode Capital Management LLC increased its holdings in Public Storage by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 4,010,044 shares of the real estate investment trust’s stock valued at $1,197,769,000 after purchasing an additional 78,472 shares during the last quarter. Norges Bank bought a new stake in Public Storage in the fourth quarter valued at about $931,286,000. Northern Trust Corp increased its holdings in Public Storage by 43.4% in the fourth quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust’s stock valued at $741,592,000 after purchasing an additional 749,913 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Public Storage by 10.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,702,522 shares of the real estate investment trust’s stock valued at $509,803,000 after purchasing an additional 158,665 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Up 1.2%

PSA stock opened at $305.64 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $53.62 billion, a P/E ratio of 31.74, a P/E/G ratio of 4.91 and a beta of 0.91. The business has a 50-day moving average of $294.24 and a 200-day moving average of $303.80. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $369.99.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, topping the consensus estimate of $4.06 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. Public Storage’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.03 earnings per share. On average, sell-side analysts anticipate that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be given a dividend of $3.00 per share. The ex-dividend date is Thursday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 3.93%. Public Storage’s dividend payout ratio is currently 119.17%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Truist Financial upgraded Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price objective for the company in a report on Thursday, April 10th. Bank of America upped their price objective on Public Storage from $368.00 to $380.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Wells Fargo & Company dropped their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Barclays dropped their price objective on Public Storage from $354.00 to $351.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Finally, Mizuho upped their price objective on Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $339.25.

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.