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%.
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.
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