Parametric Portfolio Associates LLC Decreases Position in PS Business Parks, Inc. (PSB)

Parametric Portfolio Associates LLC trimmed its position in shares of PS Business Parks, Inc. (NYSE:PSB) by 25.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,623 shares of the real estate investment trust’s stock after selling 15,083 shares during the period. Parametric Portfolio Associates LLC owned about 0.16% of PS Business Parks worth $5,908,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System increased its stake in PS Business Parks by 4.0% in the 2nd quarter. California Public Employees Retirement System now owns 67,420 shares of the real estate investment trust’s stock worth $8,926,000 after purchasing an additional 2,600 shares during the period. FMR LLC purchased a new position in shares of PS Business Parks during the second quarter valued at approximately $21,739,000. Vanguard Group Inc. increased its stake in shares of PS Business Parks by 0.6% during the second quarter. Vanguard Group Inc. now owns 3,300,402 shares of the real estate investment trust’s stock valued at $436,940,000 after buying an additional 20,434 shares during the period. Northern Trust Corp increased its stake in shares of PS Business Parks by 3.7% during the second quarter. Northern Trust Corp now owns 524,636 shares of the real estate investment trust’s stock valued at $69,457,000 after buying an additional 18,570 shares during the period. Finally, Citigroup Inc. increased its stake in shares of PS Business Parks by 23.2% during the second quarter. Citigroup Inc. now owns 31,723 shares of the real estate investment trust’s stock valued at $4,200,000 after buying an additional 5,973 shares during the period. 72.33% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a research note on Tuesday, September 5th. BidaskClub raised PS Business Parks from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, KeyCorp reissued a “hold” rating on shares of PS Business Parks in a report on Friday, August 25th.

ILLEGAL ACTIVITY WARNING: “Parametric Portfolio Associates LLC Decreases Position in PS Business Parks, Inc. (PSB)” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/22/parametric-portfolio-associates-llc-decreases-position-in-ps-business-parks-inc-psb.html.

Shares of PS Business Parks, Inc. (NYSE PSB) opened at 134.25 on Friday. PS Business Parks, Inc. has a 52-week low of $102.32 and a 52-week high of $137.60. The company’s 50-day moving average price is $135.14 and its 200-day moving average price is $129.61. The stock has a market cap of $3.65 billion, a PE ratio of 43.84 and a beta of 0.60.

PS Business Parks (NYSE:PSB) last released its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.88. PS Business Parks had a return on equity of 16.50% and a net margin of 39.05%. The business had revenue of $99.80 million during the quarter, compared to analyst estimates of $100.81 million. During the same quarter last year, the business posted $1.36 EPS. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts forecast that PS Business Parks, Inc. will post $3.13 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $3.40 annualized dividend and a yield of 2.53%. PS Business Parks’s dividend payout ratio (DPR) is currently 111.11%.

In other news, Director Jennifer Holden Dunbar sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $130.69, for a total transaction of $522,760.00. Following the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $522,760. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert S. Rollo sold 8,613 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $136.24, for a total value of $1,173,435.12. Followin

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System increased its stake in PS Business Parks by 4.0% in the 2nd quarter. California Public Employees Retirement System now owns 67,420 shares of the real estate investment trust’s stock worth $8,926,000 after purchasing an additional 2,600 shares during the period. FMR LLC purchased a new position in shares of PS Business Parks during the second quarter valued at approximately $21,739,000. Vanguard Group Inc. increased its stake in shares of PS Business Parks by 0.6% during the second quarter. Vanguard Group Inc. now owns 3,300,402 shares of the real estate investment trust’s stock valued at $436,940,000 after buying an additional 20,434 shares during the period. Northern Trust Corp increased its stake in shares of PS Business Parks by 3.7% during the second quarter. Northern Trust Corp now owns 524,636 shares of the real estate investment trust’s stock valued at $69,457,000 after buying an additional 18,570 shares during the period. Finally, Citigroup Inc. increased its stake in shares of PS Business Parks by 23.2% during the second quarter. Citigroup Inc. now owns 31,723 shares of the real estate investment trust’s stock valued at $4,200,000 after buying an additional 5,973 shares during the period. 72.33% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a research note on Tuesday, September 5th. BidaskClub raised PS Business Parks from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, KeyCorp reissued a “hold” rating on shares of PS Business Parks in a report on Friday, August 25th.

ILLEGAL ACTIVITY WARNING: “Parametric Portfolio Associates LLC Decreases Position in PS Business Parks, Inc. (PSB)” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/22/parametric-portfolio-associates-llc-decreases-position-in-ps-business-parks-inc-psb.html.

Shares of PS Business Parks, Inc. (NYSE PSB) opened at 134.25 on Friday. PS Business Parks, Inc. has a 52-week low of $102.32 and a 52-week high of $137.60. The company’s 50-day moving average price is $135.14 and its 200-day moving average price is $129.61. The stock has a market cap of $3.65 billion, a PE ratio of 43.84 and a beta of 0.60.

PS Business Parks (NYSE:PSB) last released its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.88. PS Business Parks had a return on equity of 16.50% and a net margin of 39.05%. The business had revenue of $99.80 million during the quarter, compared to analyst estimates of $100.81 million. During the same quarter last year, the business posted $1.36 EPS. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts forecast that PS Business Parks, Inc. will post $3.13 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $3.40 annualized dividend and a yield of 2.53%. PS Business Parks’s dividend payout ratio (DPR) is currently 111.11%.

In other news, Director Jennifer Holden Dunbar sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $130.69, for a total transaction of $522,760.00. Following the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $522,760. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert S. Rollo sold 8,613 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $136.24, for a total value of $1,173,435.12. Following the transaction, the director now owns 7,515 shares in the company, valued at $1,023,843.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,186 shares of company stock valued at $4,319,064. 1.63% of the stock is owned by company insiders.

About PS Business Parks

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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