Teachers Insurance & Annuity Association of America increased its position in shares of PS Business Parks Inc (NYSE:PSB) by 8.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,348 shares of the real estate investment trust’s stock after buying an additional 1,709 shares during the quarter. Teachers Insurance & Annuity Association of America owned about 0.08% of PS Business Parks worth $2,670,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc purchased a new position in PS Business Parks during the 3rd quarter worth approximately $206,000. Cubist Systematic Strategies LLC purchased a new position in PS Business Parks during the 3rd quarter worth approximately $264,000. Algert Global LLC purchased a new position in PS Business Parks during the 3rd quarter worth approximately $372,000. Schroder Investment Management Group grew its stake in PS Business Parks by 363.6% during the 3rd 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 last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in PS Business Parks during the 3rd quarter worth approximately $619,000. Hedge funds and other institutional investors own 71.49% of the company’s stock.
In other PS Business Parks news, Director Joseph D. Russell, Jr. sold 800 shares of PS Business Parks stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $128.52, for a total value of $102,816.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John W. Petersen sold 5,104 shares of PS Business Parks stock in a transaction that occurred 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. Company insiders own 1.63% of the company’s stock.
PS Business Parks Inc (NYSE:PSB) opened at $115.14 on Monday. PS Business Parks Inc has a 12 month low of $107.91 and a 12 month high of $137.60. The firm has a market capitalization of $3,138.10, a P/E ratio of 34.89, a price-to-earnings-growth ratio of 3.64 and a beta of 0.53.
PS Business Parks (NYSE:PSB) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). PS Business Parks had a net margin of 40.29% and a return on equity of 17.35%. The company had revenue of $101.84 million during the quarter, compared to analysts’ expectations of $101.56 million. During the same quarter last year, the business posted $1.39 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. analysts expect that PS Business Parks Inc will post 6.32 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Wednesday, March 14th will be paid a $0.85 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 103.03%.
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About PS Business Parks
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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