PS Business Parks Inc (NYSE:PSB) insider John W. Petersen sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $134.92, for a total value of $404,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
John W. Petersen also recently made the following trade(s):
- On Thursday, August 23rd, John W. Petersen sold 2,500 shares of PS Business Parks stock. The shares were sold at an average price of $129.40, for a total value of $323,500.00.
PSB stock opened at $137.20 on Friday. The company has a market cap of $3.69 billion, a P/E ratio of 22.38, a PEG ratio of 4.21 and a beta of 0.34. PS Business Parks Inc has a 12-month low of $107.91 and a 12-month high of $139.12.
PS Business Parks (NYSE:PSB) last posted its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.56. The business had revenue of $103.81 million for the quarter, compared to analyst estimates of $100.03 million. PS Business Parks had a return on equity of 22.57% and a net margin of 53.92%. Research analysts predict that PS Business Parks Inc will post 6.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Wednesday, December 12th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Tuesday, December 11th. PS Business Parks’s dividend payout ratio is currently 68.52%.
Hedge funds have recently bought and sold shares of the stock. Everence Capital Management Inc. acquired a new stake in shares of PS Business Parks during the 2nd quarter valued at approximately $204,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of PS Business Parks during the 2nd quarter valued at approximately $209,000. Quantum Capital Management acquired a new stake in shares of PS Business Parks during the 2nd quarter valued at approximately $218,000. CIBC Asset Management Inc acquired a new stake in shares of PS Business Parks during the 2nd quarter valued at approximately $221,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of PS Business Parks during the 1st quarter valued at approximately $230,000. 71.32% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on PSB shares. Zacks Investment Research lowered PS Business Parks from a “buy” rating to a “hold” rating in a research report on Tuesday, September 11th. Wells Fargo & Co upped their price target on PS Business Parks from $121.00 to $131.00 and gave the company a “market perform” rating in a research report on Thursday, August 9th. Finally, ValuEngine raised PS Business Parks from a “hold” rating to a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. PS Business Parks presently has a consensus rating of “Hold” and an average price target of $124.75.
PS Business Parks Company Profile
PS Business Parks, Inc, a member of the S&P SmallCap 600, is a real estate investment trust (REIT) that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of June 30, 2018, the Company wholly owned 28.3 million rentable square feet with approximately 5,000 commercial customers in six states and a 95.0% interest in a 395-unit apartment complex.
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