Dupont Capital Management Corp raised its stake in shares of PS Business Parks Inc (NYSE:PSB) by 13.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,997 shares of the real estate investment trust’s stock after acquiring an additional 5,515 shares during the quarter. Dupont Capital Management Corp owned approximately 0.17% of PS Business Parks worth $5,846,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC raised its holdings in shares of PS Business Parks by 87.2% in the second quarter. FMR LLC now owns 341,134 shares of the real estate investment trust’s stock valued at $43,836,000 after buying an additional 158,910 shares during the last quarter. WINTON GROUP Ltd raised its holdings in shares of PS Business Parks by 1,921.5% in the third quarter. WINTON GROUP Ltd now owns 142,615 shares of the real estate investment trust’s stock valued at $18,125,000 after buying an additional 135,560 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of PS Business Parks by 151.7% in the second quarter. American Century Companies Inc. now owns 216,980 shares of the real estate investment trust’s stock valued at $27,882,000 after buying an additional 130,787 shares during the last quarter. BlackRock Inc. raised its holdings in shares of PS Business Parks by 3.5% in the second quarter. BlackRock Inc. now owns 3,532,903 shares of the real estate investment trust’s stock valued at $453,977,000 after buying an additional 117,876 shares during the last quarter. Finally, TD Asset Management Inc. raised its holdings in shares of PS Business Parks by 272.6% in the second quarter. TD Asset Management Inc. now owns 85,840 shares of the real estate investment trust’s stock valued at $11,030,000 after buying an additional 62,800 shares during the last quarter. 71.32% of the stock is owned by institutional investors.
PS Business Parks stock opened at $137.20 on Friday. PS Business Parks Inc has a 12-month low of $107.91 and a 12-month high of $139.12. The stock has a market capitalization of $3.69 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 4.21 and a beta of 0.34.
PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.56. PS Business Parks had a return on equity of 22.57% and a net margin of 53.92%. The business had revenue of $103.81 million during the quarter, compared to analysts’ expectations of $100.03 million. On average, research analysts predict that PS Business Parks Inc will post 6.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Wednesday, December 12th will be issued a $1.05 dividend. The ex-dividend date is Tuesday, December 11th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.06%. PS Business Parks’s dividend payout ratio is 68.52%.
PSB has been the subject of a number of research analyst reports. ValuEngine raised PS Business Parks from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research cut PS Business Parks from a “buy” rating to a “hold” rating in a report on Tuesday, September 11th. Finally, Wells Fargo & Co lifted their price target on PS Business Parks from $121.00 to $131.00 and gave the company a “market perform” rating in a report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. PS Business Parks presently has an average rating of “Hold” and a consensus price target of $124.75.
In related news, insider John W. Petersen sold 3,000 shares of PS Business Parks stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $134.92, for a total value of $404,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.63% of the company’s stock.
PS Business Parks Profile
PS Business Parks, Inc, a member of the S&P SmallCap 600, is a real estate investment trust (REIT) that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of June 30, 2018, the Company wholly owned 28.3 million rentable square feet with approximately 5,000 commercial customers in six states and a 95.0% interest in a 395-unit apartment complex.
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