Great West Life Assurance Co. Can Acquires 3,122 Shares of PS Business Parks Inc (PSB)

Great West Life Assurance Co. Can grew its holdings in PS Business Parks Inc (NYSE:PSB) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,548 shares of the real estate investment trust’s stock after buying an additional 3,122 shares during the period. Great West Life Assurance Co. Can owned 0.16% of PS Business Parks worth $5,180,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PSB. Dimensional Fund Advisors LP grew its holdings in shares of PS Business Parks by 0.6% in the third quarter. Dimensional Fund Advisors LP now owns 327,339 shares of the real estate investment trust’s stock valued at $41,600,000 after purchasing an additional 1,920 shares during the period. Strs Ohio grew its holdings in shares of PS Business Parks by 5.8% in the fourth quarter. Strs Ohio now owns 34,602 shares of the real estate investment trust’s stock valued at $4,532,000 after purchasing an additional 1,912 shares during the period. Teachers Advisors LLC grew its holdings in shares of PS Business Parks by 0.3% in the third quarter. Teachers Advisors LLC now owns 213,694 shares of the real estate investment trust’s stock valued at $27,158,000 after purchasing an additional 743 shares during the period. Legal & General Group Plc grew its holdings in shares of PS Business Parks by 3.4% in the third quarter. Legal & General Group Plc now owns 104,373 shares of the real estate investment trust’s stock valued at $13,246,000 after purchasing an additional 3,413 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of PS Business Parks by 13.7% in the fourth quarter. Rhumbline Advisers now owns 80,612 shares of the real estate investment trust’s stock valued at $10,560,000 after purchasing an additional 9,691 shares during the period. Institutional investors and hedge funds own 71.77% of the company’s stock.

Shares of PSB opened at $155.50 on Friday. PS Business Parks Inc has a 12-month low of $109.00 and a 12-month high of $156.79. The stock has a market capitalization of $4.22 billion, a P/E ratio of 24.03, a PEG ratio of 4.69 and a beta of 0.52.

PS Business Parks (NYSE:PSB) last announced its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.63 by ($0.48). PS Business Parks had a net margin of 54.82% and a return on equity of 22.54%. The firm had revenue of $104.13 million during the quarter, compared to analysts’ expectations of $103.56 million. As a group, research analysts expect that PS Business Parks Inc will post 6.58 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 2.70%. The ex-dividend date is Tuesday, March 12th. PS Business Parks’s dividend payout ratio (DPR) is presently 64.91%.

Separately, Zacks Investment Research lowered shares of PS Business Parks from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. PS Business Parks currently has a consensus rating of “Hold” and an average price target of $124.75.

In other PS Business Parks news, insider John W. Petersen sold 3,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $151.79, for a total transaction of $455,370.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.50% of the company’s stock.

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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.

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

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