Old Mutual Global Investors UK Ltd. Invests $2.21 Million in PS Business Parks, Inc. (PSB)

Old Mutual Global Investors UK Ltd. purchased a new position in PS Business Parks, Inc. (NYSE:PSB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,663 shares of the real estate investment trust’s stock, valued at approximately $2,206,000. Old Mutual Global Investors UK Ltd. owned about 0.06% of PS Business Parks as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of PSB. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PS Business Parks by 9.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,228 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 104 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of PS Business Parks by 25.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 1,500 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 300 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of PS Business Parks in the 1st quarter worth about $195,000. 1st Global Advisors Inc. boosted its holdings 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 buying an additional 20 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of PS Business Parks in the 2nd quarter worth about $211,000. 72.36% of the stock is currently owned by institutional investors.

PS Business Parks, Inc. (NYSE:PSB) opened at 135.40 on Friday. The stock has a market capitalization of $3.68 billion, a P/E ratio of 44.22 and a beta of 0.60. PS Business Parks, Inc. has a one year low of $102.32 and a one year high of $137.34. The company has a 50 day moving average of $132.79 and a 200-day moving average of $125.14.

PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.88. The business had revenue of $99.80 million during the quarter, compared to the consensus estimate of $100.81 million. PS Business Parks had a return on equity of 16.50% and a net margin of 39.05%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. Equities research analysts predict that PS Business Parks, Inc. will post $3.12 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.51%. PS Business Parks’s payout ratio is currently 111.11%.

In other news, Director Ronald L. Havner, Jr. sold 8,136 shares of PS Business Parks stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $134.94, for a total transaction of $1,097,871.84. Following the transaction, the director now directly owns 2,068 shares of the company’s stock, valued at approximately $279,055.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John W. Petersen sold 3,000 shares of PS Business Parks stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $132.22, for a total value of $396,660.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,636 shares of company stock worth $2,350,717. Insiders own 1.63% of the company’s stock.

A number of brokerages recently weighed in on PSB. Zacks Investment Research raised shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a report on Tuesday, September 5th. KeyCorp reissued a “hold” rating on shares of PS Business Parks in a report on Friday, August 25th. Finally, BidaskClub downgraded shares of PS Business Parks from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th.

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PS Business Parks 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.

Institutional Ownership by Quarter for PS Business Parks (NYSE:PSB)

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