Insider Selling: PS Business Parks, Inc. (PSB) Director Sells $546,440.00 in Stock

PS Business Parks, Inc. (NYSE:PSB) Director Ronald L. Havner, Jr. sold 4,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $136.61, for a total value of $546,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of PS Business Parks, Inc. (PSB) opened at $133.99 on Friday. PS Business Parks, Inc. has a 52 week low of $108.00 and a 52 week high of $137.60. The stock has a market capitalization of $3,651.37, a P/E ratio of 22.33, a P/E/G ratio of 4.39 and a beta of 0.57.

PS Business Parks (NYSE:PSB) last posted its earnings results on Tuesday, October 24th. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.87. PS Business Parks had a return on equity of 16.95% and a net margin of 39.78%. The business had revenue of $100.48 million during the quarter, compared to analysts’ expectations of $99.55 million. During the same period in the prior year, the business earned $1.43 EPS. PS Business Parks’s revenue for the quarter was up 3.2% compared to the same quarter last year. equities analysts anticipate that PS Business Parks, Inc. will post 6.11 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $3.40 dividend on an annualized basis and a yield of 2.54%. PS Business Parks’s payout ratio is 113.33%.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Flinton Capital Management LLC increased its stake in PS Business Parks by 85.7% during the 2nd quarter. Flinton Capital Management LLC now owns 1,040 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 480 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 worth $164,000 after purchasing an additional 8 shares in the last quarter. CIBC Asset Management Inc bought a new stake in PS Business Parks during the 3rd quarter worth approximately $206,000. Everence Capital Management Inc. bought a new stake in PS Business Parks during the 2nd quarter worth approximately $211,000. Finally, Riverhead Capital Management LLC increased its stake in PS Business Parks by 81.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,632 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 732 shares in the last quarter. 72.25% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently commented on the company. BidaskClub cut PS Business Parks from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a research note on Monday, October 16th. Finally, KeyCorp reaffirmed a “hold” rating on shares of PS Business Parks in a research note on Friday, August 25th.

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.

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

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