PS Business Parks Inc (PSB) Insider John W. Petersen Sells 3,000 Shares

PS Business Parks Inc (NYSE:PSB) insider John W. Petersen sold 3,000 shares of the company’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $134.92, for a total value of $404,760.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

John W. Petersen also recently made the following trade(s):

  • On Thursday, August 23rd, John W. Petersen sold 2,500 shares of PS Business Parks stock. The stock was sold at an average price of $129.40, for a total value of $323,500.00.

Shares of PSB opened at $138.92 on Friday. PS Business Parks Inc has a 52 week low of $107.91 and a 52 week high of $138.93. The firm has a market capitalization of $3.69 billion, a PE ratio of 22.66, a PEG ratio of 4.21 and a beta of 0.34.

PS Business Parks (NYSE:PSB) last announced its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.56. PS Business Parks had a return on equity of 22.57% and a net margin of 53.92%. The company had revenue of $103.81 million during the quarter, compared to analysts’ expectations of $100.03 million. On average, sell-side analysts predict that PS Business Parks Inc will post 6.42 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Wednesday, December 12th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Tuesday, December 11th. PS Business Parks’s payout ratio is 68.52%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Everence Capital Management Inc. bought a new position in shares of PS Business Parks in the 2nd quarter valued at $204,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of PS Business Parks in the 2nd quarter valued at $209,000. Quantum Capital Management bought a new position in shares of PS Business Parks in the 2nd quarter valued at $218,000. CIBC Asset Management Inc bought a new position in shares of PS Business Parks in the 2nd quarter valued at $221,000. Finally, Redpoint Investment Management Pty Ltd bought a new position in shares of PS Business Parks in the 3rd quarter valued at $254,000. Institutional investors own 71.32% of the company’s stock.

Several equities research analysts have weighed in on PSB shares. ValuEngine upgraded PS Business Parks from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research cut PS Business Parks from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Finally, Wells Fargo & Co upped their target price on PS Business Parks from $121.00 to $131.00 and gave the stock a “market perform” rating in a research note on Thursday, August 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $124.75.

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About PS Business Parks

PS Business Parks, Inc, a member of the S&P SmallCap 600, is a real estate investment trust (“REIT”) that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of June 30, 2018, the Company wholly owned 28.3 million rentable square feet with approximately 5,000 commercial customers in six states and a 95.0% interest in a 395-unit apartment complex.

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