Shares of PS Business Parks Inc. (NYSE:PSB) saw unusually-high trading volume on Friday . Approximately 172,670 shares were traded during mid-day trading, an increase of 77% from the previous session’s volume of 97,328 shares.The stock last traded at $110.90 and had previously closed at $110.05.

PSB has been the topic of several analyst reports. Zacks Investment Research raised shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a research note on Monday, August 1st. Citigroup Inc. boosted their price objective on shares of PS Business Parks from $93.00 to $107.00 and gave the stock a “neutral” rating in a research note on Thursday, July 7th.

The company’s 50 day moving average price is $109.93 and its 200 day moving average price is $100.81. The stock has a market cap of $3.00 billion and a price-to-earnings ratio of 44.38.

PS Business Parks (NYSE:PSB) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by $0.02. The business had revenue of $96.20 million for the quarter, compared to analysts’ expectations of $95 million. PS Business Parks’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. Equities analysts expect that PS Business Parks Inc. will post $5.34 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.71%. The ex-dividend date is Monday, September 12th.

In other PS Business Parks news, Director James H. Kropp sold 1,668 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $109.60, for a total value of $182,812.80. Following the completion of the transaction, the director now directly owns 10,502 shares of the company’s stock, valued at approximately $1,151,019.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph D. Russell, Jr. sold 3,000 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $109.74, for a total transaction of $329,220.00. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in PS Business Parks stock. Principal Financial Group Inc. boosted its stake in shares of PS Business Parks Inc. (NYSE:PSB) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,200 shares of the company’s stock after buying an additional 7,285 shares during the period. Principal Financial Group Inc. owned 0.49% of PS Business Parks worth $11,646,000 at the end of the most recent quarter.

PS Business Parks, Inc (PSB) is a self-advised and self-managed real estate investment trust. The Company owns, operates, acquires and develops commercial properties, primarily multi-tenant flex, office and industrial parks. PS Business Parks, L.P. is a California limited partnership, which owns directly or indirectly all of its assets and through, which the Company conducts its businesses.

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