PS Business Parks, Inc. (NYSE:PSB) Director Robert S. Rollo sold 2,070 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $135.19, for a total transaction of $279,843.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
PS Business Parks, Inc. (NYSE:PSB) traded down $1.19 during trading on Friday, reaching $133.64. 111,015 shares of the company were exchanged, compared to its average volume of 94,752. PS Business Parks, Inc. has a 12 month low of $107.36 and a 12 month high of $137.60. The stock has a market cap of $3,676.17, a price-to-earnings ratio of 22.48, a P/E/G ratio of 4.42 and a beta of 0.57.
PS Business Parks (NYSE:PSB) last issued its earnings results on Tuesday, October 24th. The real estate investment trust reported $1.54 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.87. The business had revenue of $100.48 million for the quarter, compared to analyst estimates of $99.55 million. PS Business Parks had a net margin of 39.78% and a return on equity of 16.95%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.43 earnings per share. equities research analysts forecast that PS Business Parks, Inc. will post 6.11 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, December 12th. PS Business Parks’s dividend payout ratio (DPR) is presently 113.33%.
PSB has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a research report on Tuesday, September 5th. BidaskClub raised shares of PS Business Parks from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, KeyCorp reissued a “hold” rating on shares of PS Business Parks in a research report on Friday, August 25th.
Several large investors have recently modified their holdings of PSB. Flinton Capital Management LLC increased its position in shares of PS Business Parks by 85.7% during the second quarter. Flinton Capital Management LLC now owns 1,040 shares of the real estate investment trust’s stock worth $138,000 after acquiring an additional 480 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PS Business Parks by 0.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,236 shares of the real estate investment trust’s stock worth $164,000 after acquiring an additional 8 shares during the period. CIBC Asset Management Inc purchased a new position in shares of PS Business Parks during the third quarter worth approximately $206,000. Everence Capital Management Inc. purchased a new position in shares of PS Business Parks during the second quarter worth approximately $211,000. Finally, Riverhead Capital Management LLC increased its position in shares of PS Business Parks by 81.3% during the second quarter. Riverhead Capital Management LLC now owns 1,632 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 732 shares during the period. 72.02% of the stock is currently owned by institutional investors and hedge funds.
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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