Algert Global LLC Buys Shares of 2,790 PS Business Parks Inc (PSB)

Algert Global LLC bought a new position in PS Business Parks Inc (NYSE:PSB) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,790 shares of the real estate investment trust’s stock, valued at approximately $372,000.

Several other large investors have also added to or reduced their stakes in PSB. Zurcher Kantonalbank Zurich Cantonalbank grew its position in PS Business Parks by 0.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,236 shares of the real estate investment trust’s stock valued at $164,000 after purchasing an additional 8 shares during the last quarter. Pinebridge Investments L.P. grew its position in PS Business Parks by 1.1% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,578 shares of the real estate investment trust’s stock valued at $342,000 after purchasing an additional 29 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of PS Business Parks by 5.1% during the 2nd quarter. Amalgamated Bank now owns 2,738 shares of the real estate investment trust’s stock valued at $362,000 after acquiring an additional 132 shares during the last quarter. Symphony Asset Management LLC boosted its holdings in shares of PS Business Parks by 4.0% during the 2nd quarter. Symphony Asset Management LLC now owns 5,997 shares of the real estate investment trust’s stock valued at $794,000 after acquiring an additional 228 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of PS Business Parks by 1.9% during the 3rd quarter. Comerica Bank now owns 20,895 shares of the real estate investment trust’s stock valued at $2,739,000 after acquiring an additional 392 shares during the last quarter. 71.85% of the stock is currently owned by hedge funds and other institutional investors.

In other PS Business Parks news, Director Joseph D. Russell, Jr. sold 800 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $128.52, for a total transaction of $102,816.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald L. Havner, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $136.61, for a total transaction of $546,440.00. The disclosure for this sale can be found here. Insiders sold a total of 9,370 shares of company stock worth $1,257,849 in the last quarter. Company insiders own 1.63% of the company’s stock.

A number of analysts have recently issued reports on the stock. J P Morgan Chase & Co downgraded shares of PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 price target on the stock. in a report on Friday. Zacks Investment Research raised shares of 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 Monday, October 16th. Finally, KeyCorp reaffirmed a “hold” rating on shares of PS Business Parks in a report on Friday, August 25th.

PS Business Parks Inc (PSB) opened at $129.83 on Tuesday. PS Business Parks Inc has a one year low of $108.97 and a one year high of $137.60. The firm has a market cap of $3,504.48, a P/E ratio of 21.43, a PEG ratio of 4.21 and a beta of 0.56.

PS Business Parks (NYSE:PSB) last issued its quarterly earnings data 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 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 quarter in the prior year, the business earned $1.43 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. equities analysts expect that PS Business Parks Inc will post 6.11 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Tuesday, December 12th. PS Business Parks’s dividend payout ratio (DPR) is presently 113.33%.

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

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