Insider Selling: PS Business Parks Inc (PSB) Insider Sells $197,195.40 in Stock

PS Business Parks Inc (NYSE:PSB) insider John W. Petersen sold 1,420 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $138.87, for a total value of $197,195.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

John W. Petersen also recently made the following trade(s):

  • On Tuesday, November 6th, John W. Petersen sold 3,000 shares of PS Business Parks stock. The stock was sold at an average price of $134.92, for a total value of $404,760.00.

PSB opened at $141.02 on Monday. PS Business Parks Inc has a 12 month low of $107.91 and a 12 month high of $141.36. The company has a market capitalization of $3.86 billion, a P/E ratio of 23.00, a price-to-earnings-growth ratio of 4.37 and a beta of 0.34.

PS Business Parks (NYSE:PSB) last posted its earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.92 EPS for the quarter, beating the consensus estimate of $0.36 by $0.56. PS Business Parks had a return on equity of 22.57% and a net margin of 53.92%. The firm had revenue of $103.81 million for the quarter, compared to analysts’ expectations of $100.03 million. Equities analysts anticipate that PS Business Parks Inc will post 6.45 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Wednesday, December 12th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 2.98%. The ex-dividend date is Tuesday, December 11th. PS Business Parks’s dividend payout ratio is currently 68.52%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp increased its position in PS Business Parks by 0.3% in the 2nd quarter. Northern Trust Corp now owns 540,091 shares of the real estate investment trust’s stock valued at $69,401,000 after acquiring an additional 1,830 shares during the period. Rhumbline Advisers increased its position in PS Business Parks by 2.2% in the 2nd quarter. Rhumbline Advisers now owns 72,504 shares of the real estate investment trust’s stock valued at $9,317,000 after acquiring an additional 1,529 shares during the period. Aperio Group LLC increased its position in PS Business Parks by 4.9% in the 2nd quarter. Aperio Group LLC now owns 9,418 shares of the real estate investment trust’s stock valued at $1,210,000 after acquiring an additional 440 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in PS Business Parks by 9.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 20,397 shares of the real estate investment trust’s stock valued at $2,621,000 after acquiring an additional 1,700 shares during the period. Finally, Quantum Capital Management acquired a new stake in PS Business Parks in the 2nd quarter valued at approximately $218,000. Hedge funds and other institutional investors own 70.47% of the company’s stock.

Several analysts recently issued reports on the company. Zacks Investment Research downgraded PS Business Parks from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. ValuEngine raised PS Business Parks from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. Finally, Wells Fargo & Co raised their price target on PS Business Parks from $121.00 to $131.00 and gave the stock a “market perform” rating in a report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $124.75.

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About PS Business Parks

PS Business Parks, Inc, a member of the S&P SmallCap 600, is a REIT that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of September 30, 2018, the Company wholly owned 28.3 million rentable square feet with approximately 5,050 commercial customers in six states and held a 95.0% interest in a 395-unit apartment complex.

See Also: Preferred Stock

Insider Buying and Selling by Quarter for PS Business Parks (NYSE:PSB)

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