PS Business Parks, Inc. (PSB) Director Sells $106,400.00 in Stock

PS Business Parks, Inc. (NYSE:PSB) Director Joseph D. Russell, Jr. sold 800 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $133.00, for a total transaction of $106,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Joseph D. Russell, Jr. also recently made the following trade(s):

  • On Thursday, August 24th, Joseph D. Russell, Jr. sold 2,500 shares of PS Business Parks stock. The shares were sold at an average price of $133.37, for a total transaction of $333,425.00.

Shares of PS Business Parks, Inc. (NYSE:PSB) opened at 135.05 on Friday. The firm has a market capitalization of $3.68 billion, a P/E ratio of 44.11 and a beta of 0.60. The stock’s 50 day moving average is $133.45 and its 200-day moving average is $125.79. PS Business Parks, Inc. has a 52-week low of $102.32 and a 52-week high of $137.34.

PS Business Parks (NYSE:PSB) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 EPS for the quarter, topping the consensus estimate of $0.67 by $0.88. PS Business Parks had a net margin of 39.05% and a return on equity of 16.50%. The firm had revenue of $99.80 million during the quarter, compared to analysts’ expectations of $100.81 million. During the same quarter in the prior year, the firm earned $1.36 EPS. PS Business Parks’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts forecast that PS Business Parks, Inc. will post $3.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Tuesday, September 12th. PS Business Parks’s dividend payout ratio (DPR) is 111.11%.

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A number of brokerages recently commented on PSB. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research report on Tuesday, September 5th. BidaskClub upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, KeyCorp restated a “hold” rating on shares of PS Business Parks in a research report on Friday, August 25th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in PS Business Parks by 0.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,236 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 8 shares during the last quarter. 1st Global Advisors Inc. lifted its stake in shares of PS Business Parks by 1.1% in the 1st quarter. 1st Global Advisors Inc. now owns 1,832 shares of the real estate investment trust’s stock worth $210,000 after acquiring an additional 20 shares during the period. Pinebridge Investments L.P. lifted its stake in shares of PS Business Parks by 1.1% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,578 shares of the real estate investment trust’s stock worth $342,000 after acquiring an additional 29 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in shares of PS Business Parks by 0.9% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 4,460 shares of the real estate investment trust’s stock worth $512,000 after acquiring an additional 40 shares during the period. Finally, National Planning Corp lifted its stake in shares of PS Business Parks by 0.3% in the 2nd quarter. National Planning Corp now owns 16,531 shares of the real estate investment trust’s stock worth $2,195,000 after acquiring an additional 53 shares during the period. Hedge funds and other institutional investors own 72.36% of the company’s stock.

PS Business Parks Company Profile

PS Business Parks, Inc is a self-advised and self-managed real estate investment trust (REIT). The Company owns, operates and develops commercial properties, primarily multi-tenant flex, office and industrial parks. It focuses on owning concentrated business parks. PS Business Parks, L.P. (the Operating Partnership) is a California limited partnership, which owns directly or indirectly substantially all of its assets and through, which the Company conducts substantially all of its business.

Insider Buying and Selling by Quarter for PS Business Parks (NYSE:PSB)

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