PS Business Parks, Inc. (NYSE:PSB) Director Sara Grootwassink Lewis sold 5,137 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $134.03, for a total value of $688,512.11. Following the completion of the transaction, the director now directly owns 4,377 shares in the company, valued at approximately $586,649.31. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

PS Business Parks, Inc. (NYSE PSB) opened at 135.05 on Friday. The stock’s 50 day moving average price is $133.45 and its 200-day moving average price is $125.79. PS Business Parks, Inc. has a 52-week low of $102.32 and a 52-week high of $137.34. The company has a market cap of $3.68 billion, a P/E ratio of 44.11 and a beta of 0.60.

PS Business Parks (NYSE:PSB) last issued its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.88. PS Business Parks had a return on equity of 16.50% and a net margin of 39.05%. The business had revenue of $99.80 million during the quarter, compared to analysts’ expectations of $100.81 million. During the same period in the previous year, the firm posted $1.36 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities analysts predict that PS Business Parks, Inc. will post $3.13 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be paid a $0.85 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.52%. PS Business Parks’s payout ratio is presently 111.11%.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of PS Business Parks by 3,580.8% in the first quarter. BlackRock Inc. now owns 3,311,472 shares of the real estate investment trust’s stock valued at $380,026,000 after buying an additional 3,221,505 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of PS Business Parks by 0.6% in the second quarter. Vanguard Group Inc. now owns 3,300,402 shares of the real estate investment trust’s stock valued at $436,940,000 after buying an additional 20,434 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of PS Business Parks by 5.9% in the first quarter. Wellington Management Group LLP now owns 1,226,997 shares of the real estate investment trust’s stock valued at $140,811,000 after buying an additional 67,875 shares in the last quarter. State Street Corp grew its stake in shares of PS Business Parks by 3.2% in the second quarter. State Street Corp now owns 802,768 shares of the real estate investment trust’s stock valued at $106,276,000 after buying an additional 25,046 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of PS Business Parks by 3.7% in the second quarter. Northern Trust Corp now owns 524,636 shares of the real estate investment trust’s stock valued at $69,457,000 after buying an additional 18,570 shares in the last quarter. 72.36% of the stock is owned by institutional investors and hedge funds.

PSB has been the topic of several research analyst reports. BidaskClub downgraded PS Business Parks from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Tuesday, May 30th. Finally, KeyCorp reissued a “hold” rating on shares of PS Business Parks in a research report on Friday, August 25th.

About PS Business Parks

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.

Insider Buying and Selling by Quarter for PS Business Parks (NYSE:PSB)

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