Massmutual Trust Co. FSB ADV Boosts Holdings in Public Storage (NYSE:PSA)

Massmutual Trust Co. FSB ADV boosted its position in shares of Public Storage (NYSE:PSAGet Rating) by 62.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 340 shares of the real estate investment trust’s stock after acquiring an additional 131 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Public Storage were worth $106,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Signaturefd LLC increased its stake in Public Storage by 1.7% during the 1st quarter. Signaturefd LLC now owns 1,719 shares of the real estate investment trust’s stock valued at $671,000 after purchasing an additional 28 shares in the last quarter. Glassman Wealth Services increased its stake in Public Storage by 16.4% during the 4th quarter. Glassman Wealth Services now owns 206 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 29 shares in the last quarter. Jacobi Capital Management LLC increased its stake in Public Storage by 2.2% during the 1st quarter. Jacobi Capital Management LLC now owns 1,423 shares of the real estate investment trust’s stock valued at $555,000 after purchasing an additional 31 shares in the last quarter. Trust Co. of Vermont increased its stake in Public Storage by 3.4% during the 1st quarter. Trust Co. of Vermont now owns 983 shares of the real estate investment trust’s stock valued at $384,000 after purchasing an additional 32 shares in the last quarter. Finally, Old Port Advisors increased its stake in shares of Public Storage by 0.9% in the first quarter. Old Port Advisors now owns 3,919 shares of the real estate investment trust’s stock worth $1,554,000 after acquiring an additional 36 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Public Storage Stock Performance

PSA opened at $312.50 on Tuesday. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 1.29. The company has a market cap of $54.83 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 2.86 and a beta of 0.33. Public Storage has a 52-week low of $292.32 and a 52-week high of $421.76. The firm’s fifty day simple moving average is $332.11 and its two-hundred day simple moving average is $343.87.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.56%. The ex-dividend date is Tuesday, September 13th. Public Storage’s payout ratio is 68.14%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PSA. Raymond James lowered shares of Public Storage from a “strong-buy” rating to an “outperform” rating and increased their price objective for the stock from $365.00 to $380.00 in a research note on Tuesday, August 16th. Citigroup reiterated a “buy” rating and issued a $367.00 price objective on shares of Public Storage in a research note on Thursday, July 28th. UBS Group cut their price objective on shares of Public Storage from $390.00 to $336.00 and set a “neutral” rating on the stock in a research note on Monday, July 25th. Stifel Nicolaus cut their price objective on shares of Public Storage from $410.00 to $360.00 in a research note on Tuesday, June 21st. Finally, Morgan Stanley cut their price objective on shares of Public Storage from $357.00 to $298.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 25th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $365.58.

Insider Buying and Selling at Public Storage

In other Public Storage news, Director Tamara Hughes Gustavson sold 830 shares of the stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $353.09, for a total transaction of $293,064.70. Following the transaction, the director now directly owns 1,430 shares of the company’s stock, valued at $504,918.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director John Reyes sold 51,637 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $353.15, for a total value of $18,235,606.55. Following the transaction, the director now directly owns 175,449 shares of the company’s stock, valued at $61,959,814.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tamara Hughes Gustavson sold 830 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $353.09, for a total transaction of $293,064.70. Following the completion of the transaction, the director now directly owns 1,430 shares in the company, valued at $504,918.70. The disclosure for this sale can be found here. Insiders have sold a total of 52,670 shares of company stock valued at $18,599,374 over the last ninety days. Corporate insiders own 11.00% of the company’s stock.

Public Storage Company Profile

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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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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