Arizona State Retirement System increased its position in PS Business Parks Inc (NYSE:PSB) by 225.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 33,436 shares of the real estate investment trust’s stock after purchasing an additional 23,176 shares during the period. Arizona State Retirement System’s holdings in PS Business Parks were worth $4,183,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of PS Business Parks by 27.7% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 29,575 shares of the real estate investment trust’s stock valued at $3,948,000 after purchasing an additional 6,410 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of PS Business Parks by 3.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,836 shares of the real estate investment trust’s stock valued at $3,449,000 after purchasing an additional 966 shares during the last quarter. 361 Capital LLC purchased a new stake in shares of PS Business Parks in the 3rd quarter valued at about $2,006,000. APG Asset Management N.V. purchased a new stake in shares of PS Business Parks in the 3rd quarter valued at about $1,776,000. Finally, Legal & General Group Plc lifted its holdings in shares of PS Business Parks by 5.9% in the 3rd quarter. Legal & General Group Plc now owns 87,994 shares of the real estate investment trust’s stock valued at $11,748,000 after purchasing an additional 4,910 shares during the last quarter. 70.06% of the stock is owned by institutional investors and hedge funds.
Shares of PS Business Parks Inc (PSB) opened at $110.51 on Wednesday. The company has a market capitalization of $3,010.00, a P/E ratio of 33.49, a price-to-earnings-growth ratio of 3.50 and a beta of 0.44. PS Business Parks Inc has a one year low of $107.91 and a one year high of $137.60.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Wednesday, March 14th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.08%. The ex-dividend date is Tuesday, March 13th. PS Business Parks’s dividend payout ratio is presently 103.03%.
Several analysts have recently weighed in on the company. Zacks Investment Research downgraded PS Business Parks from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. JPMorgan Chase & Co. reduced their target price on PS Business Parks from $135.00 to $123.00 and set an “underweight” rating for the company in a report on Wednesday, February 14th.
In other PS Business Parks news, Director Joseph D. Russell, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $131.50, for a total transaction of $328,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.63% of the stock is owned by corporate insiders.
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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.
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