PS Business Parks Inc (NYSE:PSB) COO John W. Petersen sold 1,666 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $156.78, for a total value of $261,195.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
John W. Petersen also recently made the following trade(s):
- On Wednesday, March 6th, John W. Petersen sold 3,000 shares of PS Business Parks stock. The shares were sold at an average price of $151.79, for a total value of $455,370.00.
NYSE PSB traded up $0.68 during mid-day trading on Wednesday, hitting $157.32. The stock had a trading volume of 92,752 shares, compared to its average volume of 145,755. PS Business Parks Inc has a twelve month low of $115.72 and a twelve month high of $159.51. The company has a market cap of $4.27 billion, a P/E ratio of 24.30, a P/E/G ratio of 4.73 and a beta of 0.51.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 12th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 2.67%. The ex-dividend date is Tuesday, June 11th. PS Business Parks’s dividend payout ratio is currently 64.91%.
Several research analysts recently commented on PSB shares. Zacks Investment Research downgraded PS Business Parks from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Citigroup increased their price objective on PS Business Parks from $107.00 to $133.00 and gave the company a “sell” rating in a research note on Friday, March 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $131.25.
A number of hedge funds and other institutional investors have recently bought and sold shares of PSB. Bank of New York Mellon Corp boosted its stake in shares of PS Business Parks by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 295,150 shares of the real estate investment trust’s stock valued at $37,512,000 after purchasing an additional 3,930 shares during the period. Teachers Advisors LLC increased its holdings in shares of PS Business Parks by 0.3% in the third quarter. Teachers Advisors LLC now owns 213,694 shares of the real estate investment trust’s stock valued at $27,158,000 after purchasing an additional 743 shares during the period. Legal & General Group Plc increased its holdings in shares of PS Business Parks by 3.4% in the third quarter. Legal & General Group Plc now owns 104,373 shares of the real estate investment trust’s stock valued at $13,246,000 after purchasing an additional 3,413 shares during the period. Morgan Stanley increased its holdings in shares of PS Business Parks by 39.0% in the third quarter. Morgan Stanley now owns 74,952 shares of the real estate investment trust’s stock valued at $9,526,000 after purchasing an additional 21,045 shares during the period. Finally, Vanguard Group Inc increased its holdings in shares of PS Business Parks by 1.7% in the third quarter. Vanguard Group Inc now owns 3,132,045 shares of the real estate investment trust’s stock valued at $398,051,000 after purchasing an additional 51,851 shares during the period. 72.39% of the stock is owned by hedge funds and other institutional investors.
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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 December 31, 2018, the Company wholly owned 28.2 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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