Nisa Investment Advisors LLC boosted its stake in shares of PS Business Parks Inc (NYSE:PSB) by 33.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 6,265 shares of the real estate investment trust’s stock after acquiring an additional 1,575 shares during the period. Nisa Investment Advisors LLC’s holdings in PS Business Parks were worth $983,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of PSB. Norges Bank acquired a new position in PS Business Parks during the fourth quarter worth $32,705,000. Stifel Financial Corp acquired a new position in PS Business Parks during the fourth quarter worth $9,460,000. Vanguard Group Inc raised its position in PS Business Parks by 1.7% during the third quarter. Vanguard Group Inc now owns 3,132,045 shares of the real estate investment trust’s stock worth $398,051,000 after acquiring an additional 51,851 shares during the period. Vanguard Group Inc. raised its position in PS Business Parks by 1.7% during the third quarter. Vanguard Group Inc. now owns 3,132,045 shares of the real estate investment trust’s stock worth $398,051,000 after acquiring an additional 51,851 shares during the period. Finally, BlackRock Inc. raised its position in PS Business Parks by 1.3% during the fourth quarter. BlackRock Inc. now owns 3,533,326 shares of the real estate investment trust’s stock worth $462,866,000 after acquiring an additional 45,023 shares during the period. Institutional investors own 72.59% of the company’s stock.
In other news, Director Joseph D. Russell, Jr. sold 2,500 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $156.34, for a total transaction of $390,850.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John W. Petersen sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $151.79, for a total transaction of $455,370.00. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.
NYSE:PSB opened at $151.64 on Friday. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 4.60 and a beta of 0.53. PS Business Parks Inc has a fifty-two week low of $114.21 and a fifty-two week high of $159.51.
PS Business Parks (NYSE:PSB) last released its earnings results on Wednesday, February 20th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.63 by ($0.48). PS Business Parks had a return on equity of 22.54% and a net margin of 54.82%. The business had revenue of $104.13 million for the quarter, compared to analysts’ expectations of $103.56 million. Equities analysts predict that PS Business Parks Inc will post 6.59 EPS for the current fiscal year.
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PS Business Parks Company Profile
PS Business Parks, Inc, a member of the S&P SmallCap 600, is a REIT that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of September 30, 2018, the Company wholly owned 28.3 million rentable square feet with approximately 5,050 commercial customers in six states and held a 95.0% interest in a 395-unit apartment complex.
Further Reading: Fundamental Analysis – How It Helps Investors
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