Susquehanna International Group LLP decreased its holdings in PS Business Parks Inc (NYSE:PSB) by 20.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,015 shares of the real estate investment trust’s stock after selling 9,352 shares during the quarter. Susquehanna International Group LLP owned about 0.13% of PS Business Parks worth $4,808,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in PS Business Parks by 25.1% during the second quarter. Russell Investments Group Ltd. now owns 32,413 shares of the real estate investment trust’s stock valued at $4,291,000 after buying an additional 6,508 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in PS Business Parks by 3.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,610 shares of the real estate investment trust’s stock valued at $610,000 after buying an additional 150 shares during the period. Daiwa Securities Group Inc. lifted its position in PS Business Parks by 20.0% during the second quarter. Daiwa Securities Group Inc. now owns 1,800 shares of the real estate investment trust’s stock valued at $238,000 after buying an additional 300 shares during the period. Sei Investments Co. lifted its position in PS Business Parks by 19.0% during the second quarter. Sei Investments Co. now owns 35,695 shares of the real estate investment trust’s stock valued at $4,726,000 after buying an additional 5,705 shares during the period. Finally, TD Asset Management Inc. lifted its position in PS Business Parks by 9.6% during the second quarter. TD Asset Management Inc. now owns 21,640 shares of the real estate investment trust’s stock valued at $2,865,000 after buying an additional 1,900 shares during the period. 71.85% of the stock is owned by institutional investors.
Several research firms have recently issued reports on PSB. Zacks Investment Research lowered PS Business Parks from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. JPMorgan Chase & Co. lowered PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 price target for the company. in a research report on Friday, December 15th.
PS Business Parks Inc (PSB) traded down $0.18 during midday trading on Friday, reaching $125.09. The company had a trading volume of 81,817 shares, compared to its average volume of 72,838. The company has a market cap of $3,413.74, a P/E ratio of 41.70, a price-to-earnings-growth ratio of 4.15 and a beta of 0.56. PS Business Parks Inc has a 52 week low of $108.97 and a 52 week high of $137.60.
PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.87. The business had revenue of $100.48 million during the quarter, compared to the consensus estimate of $99.55 million. PS Business Parks had a return on equity of 16.95% and a net margin of 39.78%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.43 EPS. sell-side analysts anticipate that PS Business Parks Inc will post 6.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.72%. PS Business Parks’s dividend payout ratio (DPR) is presently 113.33%.
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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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