UBS Asset Management Americas Inc. increased its position in PS Business Parks Inc (NYSE:PSB) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,845 shares of the real estate investment trust’s stock after purchasing an additional 3,651 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.16% of PS Business Parks worth $5,485,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. CIBC Asset Management Inc bought a new position in PS Business Parks in the third quarter worth approximately $206,000. Cubist Systematic Strategies LLC purchased a new stake in PS Business Parks during the third quarter worth $264,000. Algert Global LLC purchased a new stake in PS Business Parks during the third quarter worth $372,000. Schroder Investment Management Group lifted its holdings in PS Business Parks by 363.6% during the third quarter. Schroder Investment Management Group now owns 3,162 shares of the real estate investment trust’s stock worth $422,000 after buying an additional 2,480 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in PS Business Parks during the third quarter worth $619,000. 71.49% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 target price for the company. in a report on Friday, December 15th. Zacks Investment Research upgraded PS Business Parks from a “sell” rating to a “hold” rating in a report on Tuesday, February 27th.
PS Business Parks (NYSE:PSB) last posted its earnings results on Tuesday, February 20th. The real estate investment trust reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). PS Business Parks had a return on equity of 17.35% and a net margin of 40.29%. The company had revenue of $101.84 million for the quarter, compared to analysts’ expectations of $101.56 million. During the same quarter in the prior year, the company earned $1.39 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. analysts forecast that PS Business Parks Inc will post 6.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, March 14th will be issued a dividend of $0.85 per share. The ex-dividend date is Tuesday, March 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.95%. PS Business Parks’s dividend payout ratio is presently 103.03%.
In other news, Director Joseph D. Russell, Jr. sold 800 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $128.52, for a total transaction of $102,816.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John W. Petersen sold 5,104 shares of the stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $111.67, for a total value of $569,963.68. The disclosure for this sale can be found here. Corporate insiders own 1.63% of the company’s stock.
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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.
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