PS Business Parks, Inc. (NYSE:PSB) Director Sara Grootwassink Lewis sold 5,137 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $134.03, for a total transaction of $688,512.11. Following the transaction, the director now owns 4,377 shares in the company, valued at $586,649.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
PS Business Parks, Inc. (NYSE:PSB) opened at 135.05 on Friday. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 44.11 and a beta of 0.60. The company’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 earnings per share for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $100.81 million. During the same period last year, the firm posted $1.36 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts predict that PS Business Parks, Inc. will post $3.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $3.40 annualized dividend and a yield of 2.52%. PS Business Parks’s dividend payout ratio (DPR) is currently 111.11%.
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A number of large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PS Business Parks by 0.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,236 shares of the real estate investment trust’s stock valued at $164,000 after acquiring an additional 8 shares in the last quarter. 1st Global Advisors Inc. increased its holdings in PS Business Parks by 1.1% during the 1st quarter. 1st Global Advisors Inc. now owns 1,832 shares of the real estate investment trust’s stock valued at $210,000 after acquiring an additional 20 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in PS Business Parks by 1.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,578 shares of the real estate investment trust’s stock valued at $342,000 after acquiring an additional 29 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in PS Business Parks by 0.9% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 4,460 shares of the real estate investment trust’s stock valued at $512,000 after acquiring an additional 40 shares in the last quarter. Finally, National Planning Corp increased its holdings in PS Business Parks by 0.3% during the 2nd quarter. National Planning Corp now owns 16,531 shares of the real estate investment trust’s stock valued at $2,195,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 72.36% of the company’s stock.
A number of equities analysts recently weighed in on PSB shares. BidaskClub lowered shares of PS Business Parks from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Tuesday, May 30th. Finally, KeyCorp restated a “hold” rating on shares of PS Business Parks in a research report on Friday, August 25th.
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.
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