Schwab Charles Investment Management Inc. Acquires 60,805 Shares of PS Business Parks, Inc. (PSB)

Schwab Charles Investment Management Inc. lifted its stake in shares of PS Business Parks, Inc. (NYSE:PSB) by 21.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 343,810 shares of the real estate investment trust’s stock after purchasing an additional 60,805 shares during the period. Schwab Charles Investment Management Inc. owned about 1.26% of PS Business Parks worth $45,518,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. 1st Global Advisors Inc. lifted its holdings in PS Business Parks by 1.1% in the first quarter. 1st Global Advisors Inc. now owns 1,832 shares of the real estate investment trust’s stock worth $210,000 after acquiring an additional 20 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in PS Business Parks by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 4,460 shares of the real estate investment trust’s stock worth $512,000 after acquiring an additional 40 shares during the last quarter. Arizona State Retirement System lifted its holdings in PS Business Parks by 1.0% in the first quarter. Arizona State Retirement System now owns 10,160 shares of the real estate investment trust’s stock worth $1,166,000 after acquiring an additional 100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PS Business Parks by 9.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,228 shares of the real estate investment trust’s stock valued at $141,000 after purchasing an additional 104 shares during the period. Finally, Texas Permanent School Fund increased its stake in shares of PS Business Parks by 1.0% in the second quarter. Texas Permanent School Fund now owns 14,291 shares of the real estate investment trust’s stock valued at $1,892,000 after purchasing an additional 145 shares during the period. 72.36% of the stock is currently owned by institutional investors and hedge funds.

PSB has been the topic of several analyst reports. BidaskClub lowered shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research lowered shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. Finally, KeyCorp reiterated a “hold” rating on shares of PS Business Parks in a research note on Friday, August 25th.

PS Business Parks, Inc. (NYSE:PSB) opened at 135.05 on Friday. The firm has a 50-day moving average of $133.45 and a 200 day moving average of $125.79. PS Business Parks, Inc. has a 52-week low of $102.32 and a 52-week high of $137.34. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 44.11 and a beta of 0.60.

PS Business Parks (NYSE:PSB) last issued its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $99.80 million during the quarter, compared to the consensus estimate of $100.81 million. During the same quarter in the prior year, the firm earned $1.36 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts forecast that PS Business Parks, Inc. will post $3.13 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Tuesday, September 12th. PS Business Parks’s dividend payout ratio is 111.11%.

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In related news, Director Jennifer Holden Dunbar sold 4,000 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $130.69, for a total transaction of $522,760.00. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at $522,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph D. Russell, Jr. sold 800 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $133.00, for a total transaction of $106,400.00. The disclosure for this sale can be found here. Insiders have sold 32,186 shares of company stock valued at $4,319,064 in the last three months. 1.63% of the stock is owned by insiders.

PS Business Parks 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.

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

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