2,266 Shares in PS Business Parks Inc (PSB) Purchased by GSA Capital Partners LLP

Share on StockTwits

GSA Capital Partners LLP bought a new position in shares of PS Business Parks Inc (NYSE:PSB) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,266 shares of the real estate investment trust’s stock, valued at approximately $297,000.

Several other institutional investors have also recently bought and sold shares of PSB. Cigna Investments Inc. New lifted its holdings in shares of PS Business Parks by 0.7% during the fourth quarter. Cigna Investments Inc. New now owns 10,515 shares of the real estate investment trust’s stock valued at $1,377,000 after purchasing an additional 70 shares during the last quarter. Robecosam AG lifted its holdings in shares of PS Business Parks by 25.0% during the fourth quarter. Robecosam AG now owns 750 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 150 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its holdings in shares of PS Business Parks by 3.4% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 4,750 shares of the real estate investment trust’s stock valued at $622,000 after purchasing an additional 154 shares during the last quarter. Eaton Vance Management increased its position in shares of PS Business Parks by 4.2% during the fourth quarter. Eaton Vance Management now owns 3,989 shares of the real estate investment trust’s stock valued at $523,000 after acquiring an additional 162 shares in the last quarter. Finally, Comerica Bank increased its position in shares of PS Business Parks by 1.0% during the fourth quarter. Comerica Bank now owns 19,445 shares of the real estate investment trust’s stock valued at $2,776,000 after acquiring an additional 198 shares in the last quarter. Institutional investors own 71.71% of the company’s stock.

Shares of PSB opened at $152.03 on Wednesday. The company has a market cap of $4.21 billion, a P/E ratio of 23.79, a PEG ratio of 4.67 and a beta of 0.52. PS Business Parks Inc has a twelve month low of $109.00 and a twelve month high of $156.79.

PS Business Parks (NYSE:PSB) last announced its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $1.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by ($0.48). The firm had revenue of $104.13 million for the quarter, compared to the consensus estimate of $103.56 million. PS Business Parks had a net margin of 54.82% and a return on equity of 22.54%. On average, research analysts forecast that PS Business Parks Inc will post 6.6 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, March 13th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Tuesday, March 12th. PS Business Parks’s dividend payout ratio (DPR) is currently 64.91%.

In other PS Business Parks news, insider John W. Petersen sold 3,000 shares of PS Business Parks stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $151.79, for a total value of $455,370.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph D. Russell, Jr. sold 2,500 shares of PS Business Parks stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $156.34, for a total transaction of $390,850.00. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Separately, Zacks Investment Research downgraded shares of PS Business Parks from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $124.75.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Macon Daily and is owned by of Macon Daily. If you are reading this piece of content on another site, it was stolen and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://macondaily.com/2019/03/20/2266-shares-in-ps-business-parks-inc-psb-purchased-by-gsa-capital-partners-llp.html.

PS Business Parks Profile

PS Business Parks, Inc, a member of the S&P SmallCap 600, is a REIT that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of September 30, 2018, the Company wholly owned 28.3 million rentable square feet with approximately 5,050 commercial customers in six states and held a 95.0% interest in a 395-unit apartment complex.

See Also: Yield Curve

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

Receive News & Ratings for PS Business Parks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PS Business Parks and related companies with MarketBeat.com's FREE daily email newsletter.