Teachers Retirement System of The State of Kentucky lowered its stake in shares of PS Business Parks Inc (NYSE:PSB) by 5.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,600 shares of the company’s stock after selling 400 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in PS Business Parks were worth $886,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of PS Business Parks by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 226,770 shares of the company’s stock valued at $25,754,000 after buying an additional 19,067 shares in the last quarter. BlackRock Group LTD raised its stake in shares of PS Business Parks by 5.5% in the third quarter. BlackRock Group LTD now owns 156,058 shares of the company’s stock valued at $17,723,000 after buying an additional 8,107 shares in the last quarter. BlackRock Inc. raised its stake in shares of PS Business Parks by 21.8% in the third quarter. BlackRock Inc. now owns 73,050 shares of the company’s stock valued at $8,296,000 after buying an additional 13,072 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of PS Business Parks by 8.4% in the third quarter. BlackRock Fund Advisors now owns 1,365,730 shares of the company’s stock valued at $155,106,000 after buying an additional 105,942 shares in the last quarter. Finally, Shinko Asset Management Co. Ltd. raised its stake in shares of PS Business Parks by 1.0% in the third quarter. Shinko Asset Management Co. Ltd. now owns 61,351 shares of the company’s stock valued at $6,968,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 72.66% of the company’s stock.
Shares of PS Business Parks Inc (NYSE:PSB) opened at 113.03 on Monday. The firm’s 50-day moving average price is $113.92 and its 200 day moving average price is $112.11. The firm has a market capitalization of $3.07 billion, a P/E ratio of 48.93 and a beta of 0.58. PS Business Parks Inc has a 12 month low of $94.88 and a 12 month high of $121.81.
PS Business Parks (NYSE:PSB) last released its quarterly earnings data on Tuesday, February 21st. The company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $1.07. The business earned $97.70 million during the quarter, compared to analysts’ expectations of $96.12 million. PS Business Parks had a net margin of 32.48% and a return on equity of 13.33%. During the same period in the previous year, the company earned $0.55 EPS. Analysts anticipate that PS Business Parks Inc will post $3.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Wednesday, March 15th will be given a $0.85 dividend. The ex-dividend date of this dividend is Monday, March 13th. This is a boost from PS Business Parks’s previous quarterly dividend of $0.75. This represents a $3.40 dividend on an annualized basis and a yield of 3.01%. PS Business Parks’s payout ratio is 125.52%.
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Several equities analysts recently issued reports on PSB shares. Zacks Investment Research downgraded PS Business Parks from a “buy” rating to a “hold” rating in a research report on Tuesday, January 17th. Citigroup Inc downgraded PS Business Parks from a “neutral” rating to a “sell” rating and set a $107.00 price target on the stock. in a research report on Tuesday, December 13th.
In other news, Director Ronald L. Havner, Jr. sold 10,344 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $116.26, for a total transaction of $1,202,593.44. Following the transaction, the director now directly owns 10,344 shares in the company, valued at $1,202,593.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph D. Russell, Jr. sold 2,500 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $110.61, for a total transaction of $276,525.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
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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