Toronto Dominion Bank decreased its position in shares of PS Business Parks, Inc. (NYSE:PSB) by 11.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,017 shares of the real estate investment trust’s stock after selling 373 shares during the period. Toronto Dominion Bank’s holdings in PS Business Parks were worth $473,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Daiwa Securities Group Inc. lifted its stake in PS Business Parks by 1.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 5,329 shares of the real estate investment trust’s stock worth $835,000 after acquiring an additional 68 shares in the last quarter. JJJ Advisors Inc. increased its holdings in PS Business Parks by 80.2% during the 3rd quarter. JJJ Advisors Inc. now owns 200 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 89 shares during the period. Advisor Group Holdings Inc. increased its holdings in PS Business Parks by 20.8% during the 3rd quarter. Advisor Group Holdings Inc. now owns 708 shares of the real estate investment trust’s stock worth $111,000 after purchasing an additional 122 shares during the period. Van ECK Associates Corp increased its holdings in PS Business Parks by 15.7% during the 3rd quarter. Van ECK Associates Corp now owns 937 shares of the real estate investment trust’s stock worth $147,000 after purchasing an additional 127 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in PS Business Parks by 3.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 4,138 shares of the real estate investment trust’s stock worth $649,000 after purchasing an additional 155 shares during the period. 70.05% of the stock is currently owned by hedge funds and other institutional investors.
PSB has been the topic of several recent research reports. Zacks Investment Research upgraded PS Business Parks from a “hold” rating to a “buy” rating and set a $171.00 price target on the stock in a report on Thursday, October 7th. Wells Fargo & Company upped their price target on PS Business Parks from $163.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, November 19th.
PS Business Parks (NYSE:PSB) last released its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). PS Business Parks had a net margin of 46.61% and a return on equity of 19.24%. During the same period in the previous year, the company posted $1.61 earnings per share. Analysts forecast that PS Business Parks, Inc. will post 6.88 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 30th. Stockholders of record on Wednesday, December 15th were issued a $1.05 dividend. The ex-dividend date was Tuesday, December 14th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.40%. PS Business Parks’s payout ratio is currently 75.95%.
In related news, Director Jennifer Holden Dunbar sold 6,068 shares of the company’s stock in a transaction dated Monday, December 6th. The stock was sold at an average price of $178.91, for a total value of $1,085,625.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.75% of the company’s stock.
PS Business Parks Company Profile
PS Business Parks, Inc is a real estate investment trust. The firm engages in the ownership, operation, acquisition, and development of commercial properties, primarily multi-tenant flex, office, and industrial space. Its commercial real estate properties include warehouse and office space. The company was founded in 1986 and is headquartered in Glendale, CA.
Further Reading: Asset Allocation, Balancing Your Investments
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