34,645 Shares in PS Business Parks Inc (PSB) Purchased by Chicago Equity Partners LLC

Chicago Equity Partners LLC bought a new position in shares of PS Business Parks Inc (NYSE:PSB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 34,645 shares of the real estate investment trust’s stock, valued at approximately $4,538,000. Chicago Equity Partners LLC owned 0.13% of PS Business Parks at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PSB. Algert Global LLC purchased a new stake in shares of PS Business Parks during the 4th quarter worth approximately $1,343,000. Robecosam AG lifted its position in shares of PS Business Parks by 25.0% during the 4th quarter. Robecosam AG now owns 750 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 150 shares during the last quarter. TD Asset Management Inc. lifted its position in shares of PS Business Parks by 24.0% during the 4th quarter. TD Asset Management Inc. now owns 180,987 shares of the real estate investment trust’s stock worth $23,709,000 after buying an additional 35,047 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of PS Business Parks by 5.6% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 6,028 shares of the real estate investment trust’s stock worth $790,000 after buying an additional 319 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of PS Business Parks by 114.4% during the 4th quarter. SG Americas Securities LLC now owns 4,448 shares of the real estate investment trust’s stock worth $583,000 after buying an additional 2,373 shares during the last quarter. 75.51% of the stock is currently owned by institutional investors.

In related news, Director Ronald L. Havner, Jr. sold 15,000 shares of the company’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $137.45, for a total value of $2,061,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald L. Havner, Jr. sold 10,000 shares of the company’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $136.38, for a total transaction of $1,363,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,920 shares of company stock valued at $6,087,770. 1.50% of the stock is owned by insiders.

Several analysts have recently weighed in on the stock. ValuEngine upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th. Zacks Investment Research downgraded shares of PS Business Parks from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $124.75.

PSB stock opened at $147.58 on Tuesday. PS Business Parks Inc has a 12 month low of $107.91 and a 12 month high of $147.69. The firm has a market capitalization of $4.00 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 4.45 and a beta of 0.55.

COPYRIGHT VIOLATION NOTICE: This story was first reported by American Banking News and is the property of of American Banking News. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2019/02/12/34645-shares-in-ps-business-parks-inc-psb-purchased-by-chicago-equity-partners-llc.html.

PS Business Parks Company Profile

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.

See Also: How liquidity affects the bid-ask spread

Institutional Ownership by Quarter for PS Business Parks (NYSE:PSB)

Receive News & Ratings for PS Business Parks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PS Business Parks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply