Joseph D. Russell, Jr. Sells 2,500 Shares of PS Business Parks Inc (PSB) Stock

Share on StockTwits

PS Business Parks Inc (NYSE:PSB) Director Joseph D. Russell, Jr. sold 2,500 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $156.34, for a total transaction of $390,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

NYSE PSB opened at $155.42 on Friday. PS Business Parks Inc has a 52-week low of $109.00 and a 52-week high of $156.79. The company has a market cap of $4.19 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 4.64 and a beta of 0.52.

PS Business Parks (NYSE:PSB) last released its quarterly earnings data 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 net margin of 54.82% and a return on equity of 22.54%. The business had revenue of $104.13 million for the quarter, compared to the consensus estimate of $103.56 million. On average, analysts predict that PS Business Parks Inc will post 6.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th will be paid a dividend of $1.05 per share. The ex-dividend date is Tuesday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.70%. PS Business Parks’s dividend payout ratio is presently 64.91%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bruderman Asset Management LLC bought a new position in shares of PS Business Parks during the fourth quarter valued at approximately $98,000. Robecosam AG boosted its stake in shares of PS Business Parks by 25.0% during the fourth quarter. Robecosam AG now owns 750 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 150 shares in the last quarter. Mackay Shields LLC bought a new position in shares of PS Business Parks during the fourth quarter valued at approximately $210,000. Menta Capital LLC bought a new position in shares of PS Business Parks during the fourth quarter valued at approximately $217,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of PS Business Parks during the third quarter valued at approximately $236,000. Hedge funds and other institutional investors own 71.71% of the company’s stock.

Separately, Zacks Investment Research downgraded shares of PS Business Parks from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $124.75.

COPYRIGHT VIOLATION WARNING: “Joseph D. Russell, Jr. Sells 2,500 Shares of PS Business Parks Inc (PSB) Stock” was originally reported by Zolmax and is the property of of Zolmax. If you are reading this piece of content on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this piece of content can be viewed at https://zolmax.com/investing/joseph-d-russell-jr-sells-2500-shares-of-ps-business-parks-inc-psb-stock/2981944.html.

About PS Business Parks

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: What Are Cryptocurrencies?

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

Receive News & Ratings for PS Business Parks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PS Business Parks and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Endava  Sets New 12-Month High at $32.22
Endava Sets New 12-Month High at $32.22
Gocompare.Com Group PLC  Given Average Recommendation of “Buy” by Brokerages
Gocompare.Com Group PLC Given Average Recommendation of “Buy” by Brokerages
YRC Worldwide Inc  Expected to Post Earnings of -$0.50 Per Share
YRC Worldwide Inc Expected to Post Earnings of -$0.50 Per Share
Graham  Hits New 12-Month High at $706.40
Graham Hits New 12-Month High at $706.40
Weekly Investment Analysts’ Ratings Updates for NuCana
Weekly Investment Analysts’ Ratings Updates for NuCana
CarBlock  Trading 1.9% Lower  Over Last 7 Days
CarBlock Trading 1.9% Lower Over Last 7 Days


 
© 2006-2019 Zolmax.