Susquehanna International Group LLP Sells 9,352 Shares of PS Business Parks Inc (PSB)

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.

In related news, Director Ronald L. Havner, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $136.61, for a total value of $546,440.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert S. Rollo sold 2,070 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $135.19, for a total value of $279,843.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,370 shares of company stock valued at $1,257,849. 1.63% of the stock is currently owned by corporate insiders.

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.

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

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