BNP Paribas Arbitrage SA lifted its holdings in shares of PS Business Parks, Inc. (NYSE:PSB) by 27.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,917 shares of the real estate investment trust’s stock after purchasing an additional 3,663 shares during the period. BNP Paribas Arbitrage SA owned 0.06% of PS Business Parks worth $2,258,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PSB. Dimensional Fund Advisors LP grew its holdings in shares of PS Business Parks by 4.6% during the first quarter. Dimensional Fund Advisors LP now owns 289,738 shares of the real estate investment trust’s stock worth $33,249,000 after purchasing an additional 12,705 shares during the last quarter. Aperio Group LLC boosted its holdings in PS Business Parks by 4.7% in the second quarter. Aperio Group LLC now owns 9,764 shares of the real estate investment trust’s stock valued at $1,293,000 after acquiring an additional 438 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in PS Business Parks by 25.1% in the second quarter. Russell Investments Group Ltd. now owns 32,413 shares of the real estate investment trust’s stock valued at $4,291,000 after acquiring an additional 6,508 shares during the last quarter. Boston Advisors LLC bought a new position in PS Business Parks in the second quarter valued at about $6,429,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in PS Business Parks in the second quarter valued at about $247,000. Institutional investors own 72.25% of the company’s stock.
Several equities analysts recently issued reports on PSB shares. Zacks Investment Research upgraded PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a report on Tuesday, September 5th. KeyCorp reiterated a “hold” rating on shares of PS Business Parks in a report on Friday, August 25th. Finally, BidaskClub upgraded PS Business Parks from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd.
PS Business Parks (NYSE:PSB) last posted its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.87. The business had revenue of $100.48 million for the quarter, compared to analysts’ expectations of $99.55 million. PS Business Parks had a return on equity of 16.95% and a net margin of 39.78%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.43 earnings per share. equities analysts expect that PS Business Parks, Inc. will post 6.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Tuesday, December 12th. PS Business Parks’s payout ratio is 113.33%.
In other PS Business Parks news, Director Robert S. Rollo sold 8,613 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $136.24, for a total value of $1,173,435.12. Following the transaction, the director now owns 7,515 shares of the company’s stock, valued at $1,023,843.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald L. Havner, Jr. sold 4,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $136.61, for a total value of $546,440.00. The disclosure for this sale can be found here. Insiders sold 28,756 shares of company stock worth $3,892,502 in the last three months. Insiders own 1.63% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was published by Community Financial News and is the property of of Community Financial News. If you are accessing this report on another publication, it was stolen and republished in violation of international copyright & trademark laws. The original version of this report can be viewed at https://www.com-unik.info/2017/11/23/ps-business-parks-inc-psb-shares-bought-by-bnp-paribas-arbitrage-sa.html.
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.
What are top analysts saying about PS Business Parks Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for PS Business Parks Inc. and related companies.