Rothschild Asset Management Inc. grew its stake in PS Business Parks, Inc. (NYSE:PSB) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,096 shares of the real estate investment trust’s stock after buying an additional 7,219 shares during the quarter. Rothschild Asset Management Inc. owned approximately 0.91% of PS Business Parks worth $33,121,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PS Business Parks by 0.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,236 shares of the real estate investment trust’s stock worth $164,000 after buying an additional 8 shares in the last quarter. Pinebridge Investments L.P. increased its position in PS Business Parks by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 2,578 shares of the real estate investment trust’s stock worth $342,000 after buying an additional 29 shares in the last quarter. National Planning Corp increased its position in PS Business Parks by 0.3% in the second quarter. National Planning Corp now owns 16,531 shares of the real estate investment trust’s stock worth $2,195,000 after buying an additional 53 shares in the last quarter. Amalgamated Bank increased its position in PS Business Parks by 5.1% in the second quarter. Amalgamated Bank now owns 2,738 shares of the real estate investment trust’s stock worth $362,000 after buying an additional 132 shares in the last quarter. Finally, Texas Permanent School Fund increased its position in PS Business Parks by 1.0% in the second quarter. Texas Permanent School Fund now owns 14,291 shares of the real estate investment trust’s stock worth $1,892,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 72.25% of the company’s stock.
PS Business Parks, Inc. (PSB) traded up $0.11 during midday trading on Tuesday, hitting $133.75. The stock had a trading volume of 66,100 shares, compared to its average volume of 94,624. The company has a market capitalization of $3,641.83, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 4.38 and a beta of 0.57. PS Business Parks, Inc. has a 1 year low of $107.36 and a 1 year high of $137.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Tuesday, December 12th. PS Business Parks’s dividend payout ratio (DPR) is 113.33%.
PSB has been the subject of a number of analyst reports. Zacks Investment Research upgraded PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a research report on Tuesday, September 5th. KeyCorp restated a “hold” rating on shares of PS Business Parks in a research report on Friday, August 25th. Finally, BidaskClub raised PS Business Parks from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd.
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In other news, Director Robert S. Rollo sold 8,613 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $136.24, for a total value of $1,173,435.12. Following the completion of the transaction, the director now owns 7,515 shares of the company’s stock, valued at $1,023,843.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald L. Havner, Jr. sold 8,136 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $134.94, for a total value of $1,097,871.84. Following the transaction, the director now directly owns 2,068 shares of the company’s stock, valued at $279,055.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,256 shares of company stock valued at $3,679,487. Corporate insiders own 1.63% of the company’s stock.
About PS Business Parks
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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