PS Business Parks, Inc. (NYSE:PSB) Director Joseph D. Russell, Jr. sold 800 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $133.00, for a total transaction of $106,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Joseph D. Russell, Jr. also recently made the following trade(s):

  • On Thursday, August 24th, Joseph D. Russell, Jr. sold 2,500 shares of PS Business Parks stock. The shares were sold at an average price of $133.37, for a total transaction of $333,425.00.

Shares of PS Business Parks, Inc. (PSB) traded up 1.38% on Thursday, reaching $134.82. 64,094 shares of the company’s stock traded hands. The company’s 50-day moving average price is $133.37 and its 200 day moving average price is $125.67. The firm has a market cap of $3.67 billion, a P/E ratio of 44.03 and a beta of 0.60. PS Business Parks, Inc. has a one year low of $102.32 and a one year high of $137.34.

PS Business Parks (NYSE:PSB) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.88. PS Business Parks had a net margin of 39.05% and a return on equity of 16.50%. The business had revenue of $99.80 million for the quarter, compared to analysts’ expectations of $100.81 million. During the same period in the prior year, the company posted $1.36 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts forecast that PS Business Parks, Inc. will post $3.13 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Tuesday, September 12th. PS Business Parks’s dividend payout ratio is presently 111.11%.

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Hedge funds and other institutional investors have recently bought and sold shares of the business. Chicago Equity Partners LLC lifted its stake in PS Business Parks by 84.6% in the 2nd quarter. Chicago Equity Partners LLC now owns 38,686 shares of the real estate investment trust’s stock worth $5,122,000 after purchasing an additional 17,726 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in PS Business Parks by 507.9% in the 1st quarter. Great Lakes Advisors LLC now owns 14,104 shares of the real estate investment trust’s stock worth $1,619,000 after purchasing an additional 11,784 shares in the last quarter. Comerica Bank lifted its stake in PS Business Parks by 3.7% in the 1st quarter. Comerica Bank now owns 21,726 shares of the real estate investment trust’s stock worth $2,655,000 after purchasing an additional 777 shares in the last quarter. Oxford Asset Management purchased a new stake in PS Business Parks in the 1st quarter worth approximately $237,000. Finally, New York State Teachers Retirement System lifted its stake in PS Business Parks by 1.8% in the 1st quarter. New York State Teachers Retirement System now owns 74,529 shares of the real estate investment trust’s stock worth $8,553,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.

Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research report on Tuesday, September 5th. KeyCorp restated a “hold” rating on shares of PS Business Parks in a research report on Friday, August 25th. Finally, BidaskClub downgraded shares of PS Business Parks from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th.

PS Business Parks Company 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.

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

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