MassMutual Private Wealth & Trust FSB Lowers Stock Holdings in Public Storage $PSA

Key Points

• MassMutual Private Wealth & Trust FSB cut its Public Storage stake by 55.7% in the second quarter, selling 7,184 shares and retaining 5,715 shares valued at approximately $1.82 million.
• Public Storage shares opened at $326.58, near the analyst consensus price target of $326.05. The stock has a 12-month range of $256.54 to $335.55, while analysts overall maintain a “Hold” rating.
• Insider Nathaniel A. Vitan sold 950 shares for about $308,570, reducing his position by 40.19%; company insiders own 11.10% of Public Storage, while institutional investors own 78.79%.

MassMutual Private Wealth & Trust FSB reduced its stake in Public Storage (NYSE:PSA - Free Report) by 55.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,715 shares of the real estate investment trust's stock after selling 7,184 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in Public Storage were worth $1,819,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSA. V Square Quantitative Management LLC raised its stake in Public Storage by 2.2% during the first quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust's stock valued at $419,000 after buying an additional 34 shares during the last quarter. Gryphon Financial Partners LLC grew its stake in shares of Public Storage by 2.6% in the first quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust's stock worth $385,000 after acquiring an additional 36 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Public Storage by 1.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust's stock worth $575,000 after acquiring an additional 37 shares during the last quarter. Raiffeisen Bank International AG increased its holdings in shares of Public Storage by 35.2% during the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 37 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV increased its holdings in shares of Public Storage by 0.7% during the first quarter. Azzad Asset Management Inc. ADV now owns 5,358 shares of the real estate investment trust's stock valued at $1,451,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Up 0.2%

Public Storage stock opened at $326.58 on Wednesday. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The stock has a fifty day simple moving average of $318.61 and a two-hundred day simple moving average of $302.59. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. The firm has a market cap of $57.33 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 4.39 and a beta of 0.96.

Analysts Set New Price Targets

Several research firms have recently issued reports on PSA. BNP Paribas Exane upped their price target on shares of Public Storage from $331.00 to $335.00 and gave the stock an "outperform" rating in a research note on Friday, May 22nd. Weiss Ratings raised shares of Public Storage from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 12th. Barclays restated an "equal weight" rating and set a $349.00 price objective on shares of Public Storage in a research note on Friday, July 10th. Mizuho lifted their target price on shares of Public Storage from $301.00 to $316.00 and gave the stock a "neutral" rating in a report on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Public Storage from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat.com, Public Storage currently has an average rating of "Hold" and an average price target of $326.05.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares in the company, valued at approximately $459,281.34. This trade represents a 40.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.10% of the stock is owned by company insiders.

Public Storage Company Profile

Public Storage NYSE: PSA is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company's core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.

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