UBS Asset Management Americas Inc. increased its stake in PS Business Parks, Inc. (NYSE:PSB) by 9.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,872 shares of the real estate investment trust’s stock after acquiring an additional 3,450 shares during the period. UBS Asset Management Americas Inc. owned about 0.14% of PS Business Parks worth $5,146,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PS Business Parks by 0.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,236 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 8 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of PS Business Parks during the first quarter valued at about $195,000. Everence Capital Management Inc. bought a new position in PS Business Parks in the second quarter worth about $211,000. Riverhead Capital Management LLC raised its stake in PS Business Parks by 81.3% in the second quarter. Riverhead Capital Management LLC now owns 1,632 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 732 shares in the last quarter. Finally, Oxford Asset Management bought a new position in PS Business Parks in the first quarter worth about $237,000. Institutional investors own 72.33% of the company’s stock.
Shares of PS Business Parks, Inc. (NYSE PSB) opened at 134.94 on Wednesday. The company has a market capitalization of $3.67 billion, a P/E ratio of 44.07 and a beta of 0.60. The stock’s 50 day moving average is $135.00 and its 200 day moving average is $129.09. PS Business Parks, Inc. has a 12 month low of $102.32 and a 12 month high of $137.60.
PS Business Parks (NYSE:PSB) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.88. PS Business Parks had a net margin of 39.05% and a return on equity of 16.50%. The firm had revenue of $99.80 million during the quarter, compared to the consensus estimate of $100.81 million. During the same quarter in the previous year, the company posted $1.36 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts predict that PS Business Parks, Inc. will post $3.13 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Tuesday, September 12th. PS Business Parks’s dividend payout ratio (DPR) is 111.11%.
PSB has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a report on Tuesday, September 5th. KeyCorp restated a “hold” rating on shares of PS Business Parks in a research report on Friday, August 25th. Finally, BidaskClub downgraded shares of PS Business Parks from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th.
In other news, Director Sara Grootwassink Lewis sold 5,137 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $134.03, for a total transaction of $688,512.11. Following the completion of the sale, the director now owns 4,377 shares in the company, valued at approximately $586,649.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jennifer Holden Dunbar sold 4,000 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $130.69, for a total value of $522,760.00. Following the sale, the director now owns 4,000 shares of the company’s stock, valued at approximately $522,760. The disclosure for this sale can be found here. Insiders sold a total of 32,186 shares of company stock valued at $4,319,064 in the last 90 days. 1.63% of the stock is owned by company 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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