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.
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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.
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