PS Business Parks, Inc. (PSB) Position Decreased by Royal Bank of Canada

Royal Bank of Canada reduced its stake in shares of PS Business Parks, Inc. (NYSE:PSB) by 50.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,733 shares of the real estate investment trust’s stock after selling 8,803 shares during the quarter. Royal Bank of Canada’s holdings in PS Business Parks were worth $1,157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of PS Business Parks by 0.6% during the second quarter. Vanguard Group Inc. now owns 3,300,402 shares of the real estate investment trust’s stock valued at $436,940,000 after purchasing an additional 20,434 shares in the last quarter. State Street Corp raised its stake in shares of PS Business Parks by 7.1% during the first quarter. State Street Corp now owns 777,722 shares of the real estate investment trust’s stock valued at $89,248,000 after purchasing an additional 51,305 shares in the last quarter. Northern Trust Corp raised its stake in shares of PS Business Parks by 3.7% during the second quarter. Northern Trust Corp now owns 524,636 shares of the real estate investment trust’s stock valued at $69,457,000 after purchasing an additional 18,570 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of PS Business Parks by 21.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 343,810 shares of the real estate investment trust’s stock valued at $45,518,000 after purchasing an additional 60,805 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of PS Business Parks by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 300,398 shares of the real estate investment trust’s stock valued at $39,769,000 after purchasing an additional 10,660 shares in the last quarter. Institutional investors and hedge funds own 72.66% of the company’s stock.

In other PS Business Parks news, Director Jennifer Holden Dunbar sold 4,000 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $130.69, for a total value of $522,760.00. Following the sale, the director now directly owns 4,000 shares in the company, valued at $522,760. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John W. Petersen sold 3,000 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $132.22, for a total transaction of $396,660.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,186 shares of company stock worth $4,319,064. 1.63% of the stock is owned by company insiders.

Shares of PS Business Parks, Inc. (PSB) opened at $133.90 on Friday. The stock has a market capitalization of $3.65 billion, a P/E ratio of 22.34, a PEG ratio of 4.39 and a beta of 0.57.

PS Business Parks (NYSE:PSB) last issued its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $1.54 EPS for the quarter, topping the consensus estimate of $0.67 by $0.87. PS Business Parks had a net margin of 39.78% and a return on equity of 16.95%. The firm had revenue of $100.48 million for the quarter, compared to analysts’ expectations of $99.55 million. During the same period in the previous year, the business earned $1.43 earnings per share. PS Business Parks’s revenue for the quarter was up 3.2% compared to the same quarter last year. analysts expect that PS Business Parks, Inc. will post 6.11 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on PSB. BidaskClub cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, KeyCorp restated a “hold” rating on shares of PS Business Parks in a research note on Friday, August 25th.

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PS Business Parks 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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