PS Business Parks, Inc. (PSB) Director Sells $688,512.11 in Stock

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.

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

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