Los Angeles Capital Management & Equity Research Inc. Raises Holdings in PS Business Parks, Inc. (PSB)

Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of PS Business Parks, Inc. (NYSE:PSB) by 27.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,575 shares of the real estate investment trust’s stock after acquiring an additional 6,410 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.11% of PS Business Parks worth $3,948,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Flinton Capital Management LLC raised its position in shares of PS Business Parks by 85.7% in the second quarter. Flinton Capital Management LLC now owns 1,040 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 480 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 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 valued at $164,000 after buying an additional 8 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in shares of PS Business Parks in the third quarter valued at approximately $206,000. Everence Capital Management Inc. acquired a new stake in shares of PS Business Parks in the second quarter valued at approximately $211,000. Finally, Riverhead Capital Management LLC raised its position in shares of 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 valued at $216,000 after buying an additional 732 shares in the last quarter. Hedge funds and other institutional investors own 72.25% of the company’s stock.

In related news, Director Ronald L. Havner, Jr. sold 4,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $136.61, for a total value of $546,440.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert S. Rollo sold 8,613 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $136.24, for a total transaction of $1,173,435.12. Following the completion of the sale, the director now directly owns 7,515 shares in the company, valued at approximately $1,023,843.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,256 shares of company stock worth $4,225,927. Insiders own 1.63% of the company’s stock.

Several research analysts have commented on PSB shares. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research report on Monday, October 16th. 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 “buy” rating to a “hold” rating in a research report on Tuesday, August 8th.

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PS Business Parks, Inc. (NYSE PSB) opened at $137.43 on Wednesday. PS Business Parks, Inc. has a 1 year low of $107.88 and a 1 year high of $137.60. The company has a market cap of $3,644.83, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 4.38 and a beta of 0.57.

PS Business Parks (NYSE:PSB) last announced its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $1.54 EPS for the quarter, beating the consensus estimate of $0.67 by $0.87. The business had revenue of $100.48 million during the quarter, compared to the consensus estimate 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 revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $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. Shareholders of record on Wednesday, December 13th will be paid a dividend of $0.85 per share. The ex-dividend date is Tuesday, December 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.47%. PS Business Parks’s payout ratio is presently 113.33%.

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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