Shell Asset Management Co. held its stake in PS Business Parks, Inc. (NYSE:PSB) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,180 shares of the real estate investment trust’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in PS Business Parks were worth $951,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in PSB. Teachers Advisors LLC raised its stake in PS Business Parks by 18.4% in the fourth quarter. Teachers Advisors LLC now owns 224,219 shares of the real estate investment trust’s stock worth $26,126,000 after buying an additional 34,891 shares during the last quarter. Bank of Montreal Can raised its stake in PS Business Parks by 4.2% in the first quarter. Bank of Montreal Can now owns 24,813 shares of the real estate investment trust’s stock worth $2,848,000 after buying an additional 996 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in PS Business Parks by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 8,000 shares of the real estate investment trust’s stock worth $918,000 after buying an additional 200 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of PS Business Parks by 6.7% in the first quarter. State of Alaska Department of Revenue now owns 4,440 shares of the real estate investment trust’s stock valued at $507,000 after buying an additional 280 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of PS Business Parks by 143.8% in the first quarter. ProShare Advisors LLC now owns 8,781 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 5,179 shares in the last quarter. 71.40% of the stock is owned by institutional investors and hedge funds.
Shares of PS Business Parks, Inc. (NYSE PSB) traded down 0.58% during midday trading on Friday, hitting $130.96. The stock had a trading volume of 77,088 shares. The company’s 50 day moving average price is $131.30 and its 200-day moving average price is $123.04. PS Business Parks, Inc. has a 1-year low of $102.32 and a 1-year high of $136.27. The firm has a market capitalization of $3.56 billion, a PE ratio of 42.77 and a beta of 0.59.
PS Business Parks (NYSE:PSB) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $100.81 million. During the same quarter in the prior year, the company earned $1.36 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. Equities analysts predict that PS Business Parks, Inc. will post $3.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.60%. PS Business Parks’s dividend payout ratio (DPR) is 111.11%.
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PSB has been the subject of several recent research reports. Zacks Investment Research lowered PS Business Parks from a “buy” rating to a “hold” rating in a report on Monday, May 29th. BidaskClub upgraded PS Business Parks from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 15th.
In other news, insider John W. Petersen sold 2,500 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $124.88, for a total value of $312,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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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