Susquehanna International Group LLP decreased its holdings in PS Business Parks Inc (NYSE:PSB) by 20.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,015 shares of the real estate investment trust’s stock after selling 9,352 shares during the period. Susquehanna International Group LLP owned about 0.13% of PS Business Parks worth $4,808,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Flinton Capital Management LLC raised its stake in PS Business Parks by 85.7% in the second quarter. Flinton Capital Management LLC now owns 1,040 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 480 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PS Business Parks by 0.7% during the second 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 during the period. CIBC Asset Management Inc bought a new position in shares of PS Business Parks during the third quarter worth approximately $206,000. Everence Capital Management Inc. bought a new position in shares of PS Business Parks during the second quarter worth approximately $211,000. Finally, Riverhead Capital Management LLC increased its stake in shares of PS Business Parks by 81.3% during the second 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 during the period. Hedge funds and other institutional investors own 71.97% of the company’s stock.
PSB has been the topic of a number of recent research reports. Zacks Investment Research upgraded PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a research note on Monday, October 16th. KeyCorp reiterated a “hold” rating on shares of PS Business Parks in a research note on Friday, August 25th. Finally, J P Morgan Chase & Co lowered PS Business Parks from a “neutral” rating to an “underweight” rating in a research note on Friday.
Shares of PS Business Parks Inc (NYSE PSB) traded down $0.64 during midday trading on Friday, hitting $127.60. The stock had a trading volume of 169,000 shares, compared to its average volume of 93,422. The company has a market capitalization of $3,494.67, a price-to-earnings ratio of 21.37, a P/E/G ratio of 4.20 and a beta of 0.56. PS Business Parks Inc has a one year low of $108.97 and a one year high of $137.60.
PS Business Parks (NYSE:PSB) last announced its earnings results on Tuesday, October 24th. The real estate investment trust reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.87. The company had revenue of $100.48 million for the quarter, compared to analyst estimates of $99.55 million. PS Business Parks had a return on equity of 16.95% and a net margin of 39.78%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.43 earnings per share. equities analysts anticipate that PS Business Parks Inc will post 6.11 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be paid a dividend of $0.85 per share. The ex-dividend date is Tuesday, December 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.66%. PS Business Parks’s dividend payout ratio (DPR) is currently 113.33%.
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.
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