PS Business Parks Inc (NYSE:PSB) COO John W. Petersen sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $175.31, for a total transaction of $140,248.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
PS Business Parks stock traded down $0.04 during trading hours on Friday, hitting $175.62. The company had a trading volume of 620 shares, compared to its average volume of 92,997. The firm has a market cap of $4.78 billion, a PE ratio of 27.13, a PEG ratio of 5.10 and a beta of 0.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.48 and a quick ratio of 0.48. PS Business Parks Inc has a one year low of $125.52 and a one year high of $192.13. The firm has a 50-day moving average of $181.17 and a 200 day moving average of $173.34.
PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.15. The firm had revenue of $108.06 million for the quarter, compared to analysts’ expectations of $106.77 million. PS Business Parks had a net margin of 35.61% and a return on equity of 14.96%. As a group, research analysts expect that PS Business Parks Inc will post 6.83 earnings per share for the current year.
Several large investors have recently made changes to their positions in PSB. Nuveen Asset Management LLC acquired a new position in shares of PS Business Parks during the 2nd quarter worth approximately $50,996,000. Invesco Ltd. boosted its position in PS Business Parks by 67.3% in the second quarter. Invesco Ltd. now owns 294,727 shares of the real estate investment trust’s stock valued at $49,670,000 after buying an additional 118,606 shares in the last quarter. APG Asset Management N.V. boosted its position in PS Business Parks by 503.0% in the second quarter. APG Asset Management N.V. now owns 101,311 shares of the real estate investment trust’s stock valued at $14,993,000 after buying an additional 84,511 shares in the last quarter. Northern Trust Corp boosted its position in PS Business Parks by 12.3% in the second quarter. Northern Trust Corp now owns 557,102 shares of the real estate investment trust’s stock valued at $93,888,000 after buying an additional 60,831 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its position in PS Business Parks by 33.8% in the second quarter. WINTON GROUP Ltd now owns 202,877 shares of the real estate investment trust’s stock valued at $34,191,000 after buying an additional 51,280 shares in the last quarter. Hedge funds and other institutional investors own 70.51% of the company’s stock.
PSB has been the subject of several recent research reports. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research report on Friday, August 16th. Citigroup upgraded shares of PS Business Parks from a “sell” rating to a “neutral” rating and upped their target price for the company from $142.00 to $180.00 in a research report on Monday, September 23rd. Finally, ValuEngine lowered shares of PS Business Parks from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.
About PS Business Parks
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 December 31, 2018, the Company wholly owned 28.2 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.
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