Bessemer Group Inc. continued to hold its position in PS Business Parks, Inc. (NYSE:PSB) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 20,800 shares of the real estate investment trust’s stock at the end of the second quarter. Bessemer Group Inc. owned about 0.08% of PS Business Parks worth $2,754,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PS Business Parks by 9.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,228 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 104 shares during the period. Daiwa Securities Group Inc. increased its position in PS Business Parks by 25.0% in the first quarter. Daiwa Securities Group Inc. now owns 1,500 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 300 shares during the period. Ameritas Investment Partners Inc. purchased a new position in PS Business Parks during the first quarter worth about $195,000. 1st Global Advisors Inc. increased its position in PS Business Parks by 1.1% in the first quarter. 1st Global Advisors Inc. now owns 1,832 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 20 shares during the period. Finally, Oxford Asset Management purchased a new position in PS Business Parks during the first quarter worth about $237,000. Hedge funds and other institutional investors own 71.40% of the company’s stock.
PS Business Parks, Inc. (PSB) traded down 0.58% during trading on Friday, reaching $130.96. The company had a trading volume of 77,088 shares. The firm has a market capitalization of $3.56 billion, a P/E ratio of 42.77 and a beta of 0.59. The stock has a 50 day moving average price of $131.30 and a 200 day moving average price of $123.04. PS Business Parks, Inc. has a 52 week low of $102.32 and a 52 week high of $136.27.
PS Business Parks (NYSE:PSB) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 EPS for the quarter, beating the consensus estimate of $0.67 by $0.88. PS Business Parks had a net margin of 39.05% and a return on equity of 16.50%. The company had revenue of $99.80 million for the quarter, compared to analyst estimates of $100.81 million. During the same period in the prior year, the company earned $1.36 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. Analysts predict that PS Business Parks, Inc. will post $3.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Tuesday, September 12th. PS Business Parks’s payout ratio is 111.11%.
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A number of research firms have recently issued reports on PSB. BidaskClub downgraded PS Business Parks from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded PS Business Parks from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Tuesday, May 30th.
In other PS Business Parks news, insider John W. Petersen sold 3,500 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $129.83, for a total value of $454,405.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.63% of the stock is currently owned by corporate insiders.
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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