PS Business Parks Inc (PSB) Shares Bought by Cigna Investments Inc. New

Cigna Investments Inc. New raised its holdings in PS Business Parks Inc (NYSE:PSB) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,515 shares of the real estate investment trust’s stock after purchasing an additional 70 shares during the quarter. Cigna Investments Inc. New’s holdings in PS Business Parks were worth $1,377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PSB. Man Group plc raised its stake in PS Business Parks by 118.1% in the third quarter. Man Group plc now owns 252,006 shares of the real estate investment trust’s stock valued at $32,027,000 after buying an additional 136,462 shares during the period. WINTON GROUP Ltd increased its stake in shares of PS Business Parks by 1,921.5% during the third quarter. WINTON GROUP Ltd now owns 142,615 shares of the real estate investment trust’s stock worth $18,125,000 after purchasing an additional 135,560 shares during the period. American Century Companies Inc. increased its stake in shares of PS Business Parks by 31.6% during the third quarter. American Century Companies Inc. now owns 285,486 shares of the real estate investment trust’s stock worth $36,282,000 after purchasing an additional 68,506 shares during the period. Vanguard Group Inc increased its stake in shares of PS Business Parks by 1.7% during the third quarter. Vanguard Group Inc now owns 3,132,045 shares of the real estate investment trust’s stock worth $398,051,000 after purchasing an additional 51,851 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of PS Business Parks by 1.7% during the third quarter. Vanguard Group Inc. now owns 3,132,045 shares of the real estate investment trust’s stock worth $398,051,000 after purchasing an additional 51,851 shares during the period. Hedge funds and other institutional investors own 75.51% of the company’s stock.

In other PS Business Parks news, Director Ronald L. Havner, Jr. sold 15,000 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $137.45, for a total value of $2,061,750.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronald L. Havner, Jr. sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $136.38, for a total value of $1,363,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,920 shares of company stock worth $6,087,770. Company insiders own 1.50% of the company’s stock.

PSB has been the topic of a number of analyst reports. ValuEngine raised PS Business Parks from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th. Zacks Investment Research downgraded PS Business Parks from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $124.75.

Shares of PSB stock opened at $146.78 on Wednesday. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 4.45 and a beta of 0.55. PS Business Parks Inc has a fifty-two week low of $109.00 and a fifty-two week high of $148.43.

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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.

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

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