Jefferies Group LLC raised its holdings in shares of PS Business Parks Inc (NYSE:PSB) by 35.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,935 shares of the real estate investment trust’s stock after acquiring an additional 1,808 shares during the quarter. Jefferies Group LLC’s holdings in PS Business Parks were worth $867,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc purchased a new position in PS Business Parks during the 3rd quarter valued at about $206,000. Cubist Systematic Strategies LLC purchased a new position in PS Business Parks during the 3rd quarter valued at about $264,000. Algert Global LLC purchased a new position in PS Business Parks during the 3rd quarter valued at about $372,000. Schroder Investment Management Group grew its stake in PS Business Parks by 363.6% during the 3rd quarter. Schroder Investment Management Group now owns 3,162 shares of the real estate investment trust’s stock valued at $422,000 after acquiring an additional 2,480 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in PS Business Parks during the 3rd quarter valued at about $660,000. 71.49% of the stock is currently owned by institutional investors.
Several research firms have weighed in on PSB. Zacks Investment Research raised PS Business Parks from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. lowered their target price on PS Business Parks from $135.00 to $123.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 14th.
PS Business Parks (NYSE:PSB) last announced its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $1.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.01). The firm had revenue of $101.84 million during the quarter, compared to the consensus estimate of $101.56 million. PS Business Parks had a net margin of 40.29% and a return on equity of 17.35%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 EPS. equities analysts anticipate that PS Business Parks Inc will post 6.32 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, March 14th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.97%. PS Business Parks’s payout ratio is 103.03%.
In related news, insider John W. Petersen sold 5,104 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $111.67, for a total value of $569,963.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.63% of the company’s stock.
PS Business Parks Company 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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