PS Business Parks, Inc. (PSB) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System decreased its holdings in PS Business Parks, Inc. (NYSE:PSB) by 9.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,008 shares of the real estate investment trust’s stock after selling 3,836 shares during the quarter. California State Teachers Retirement System owned about 0.13% of PS Business Parks worth $4,635,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in PSB. FMR LLC purchased a new stake in PS Business Parks in the second quarter worth $21,739,000. Schwab Charles Investment Management Inc. lifted its stake in PS Business Parks by 21.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 343,810 shares of the real estate investment trust’s stock worth $45,518,000 after acquiring an additional 60,805 shares during the period. State Street Corp lifted its stake in PS Business Parks by 7.1% in the first quarter. State Street Corp now owns 777,722 shares of the real estate investment trust’s stock worth $89,248,000 after acquiring an additional 51,305 shares during the period. Boston Advisors LLC purchased a new stake in PS Business Parks in the second quarter worth $6,429,000. Finally, Bank of America Corp DE lifted its stake in PS Business Parks by 20.5% in the first quarter. Bank of America Corp DE now owns 166,952 shares of the real estate investment trust’s stock worth $19,159,000 after acquiring an additional 28,438 shares during the period. 72.66% of the stock is owned by institutional investors.

PSB has been the subject of a number of research analyst reports. Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a research note on Monday, October 16th. KeyCorp reaffirmed a “hold” rating on shares of PS Business Parks in a research note on Friday, August 25th. Finally, BidaskClub lowered PS Business Parks from a “buy” rating to a “hold” rating in a research note on Monday, July 24th.

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PS Business Parks (NYSE:PSB) last issued its earnings results on Tuesday, October 24th. The real estate investment trust reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.87. PS Business Parks had a return on equity of 16.95% and a net margin of 39.78%. The business had revenue of $100.48 million during the quarter, compared to analysts’ expectations of $99.55 million. During the same period in the prior year, the business earned $1.43 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year.

In other PS Business Parks news, Director Jennifer Holden Dunbar sold 4,000 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $130.69, for a total value of $522,760.00. Following the completion of the sale, the director now directly owns 4,000 shares in the company, valued at approximately $522,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph D. Russell, Jr. sold 800 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $133.00, for a total value of $106,400.00. The disclosure for this sale can be found here. Insiders sold a total of 32,186 shares of company stock valued at $4,319,064 over the last quarter. Company insiders own 1.63% of the company’s stock.

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.

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

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