John W. Petersen Sells 800 Shares of PS Business Parks Inc (NYSE:PSB) Stock

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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.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $1.05 per share. The ex-dividend date is Thursday, December 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.39%. PS Business Parks’s payout ratio is presently 64.91%.

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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