PS Business Parks Inc (NYSE:PSB) Director Joseph D. Russell, Jr. sold 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $159.86, for a total value of $207,818.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Joseph D. Russell, Jr. also recently made the following trade(s):

  • On Thursday, May 23rd, Joseph D. Russell, Jr. sold 2,000 shares of PS Business Parks stock. The stock was sold at an average price of $162.68, for a total value of $325,360.00.
  • On Friday, March 15th, Joseph D. Russell, Jr. sold 2,500 shares of PS Business Parks stock. The stock was sold at an average price of $156.34, for a total value of $390,850.00.

Shares of PSB stock opened at $160.98 on Tuesday. The company has a market capitalization of $4.41 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 4.83 and a beta of 0.44. PS Business Parks Inc has a fifty-two week low of $120.21 and a fifty-two week high of $167.43.

PS Business Parks (NYSE:PSB) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.29. The firm had revenue of $107.83 million for the quarter, compared to analyst estimates of $103.07 million. PS Business Parks had a return on equity of 18.97% and a net margin of 46.31%. On average, equities research analysts anticipate that PS Business Parks Inc will post 6.67 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be given a $1.05 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.61%. PS Business Parks’s dividend payout ratio is currently 64.91%.

Separately, Citigroup lifted their price objective on PS Business Parks from $107.00 to $133.00 and gave the stock a “sell” rating in a research report on Friday, March 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. PS Business Parks presently has an average rating of “Hold” and an average price target of $131.25.

Hedge funds have recently modified their holdings of the company. Cigna Investments Inc. New lifted its stake in shares of PS Business Parks by 0.7% in the 4th quarter. Cigna Investments Inc. New now owns 10,515 shares of the real estate investment trust’s stock valued at $1,377,000 after purchasing an additional 70 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of PS Business Parks by 4.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,846 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 82 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of PS Business Parks by 0.8% in the 1st quarter. State of Alaska Department of Revenue now owns 13,265 shares of the real estate investment trust’s stock valued at $2,079,000 after purchasing an additional 99 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of PS Business Parks by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 7,732 shares of the real estate investment trust’s stock valued at $1,213,000 after purchasing an additional 140 shares during the period. Finally, Robecosam AG lifted its stake in shares of PS Business Parks by 25.0% in the 4th quarter. Robecosam AG now owns 750 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 71.19% of the company’s stock.

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About PS Business Parks

PS Business Parks, Inc, a member of the S&P SmallCap 600, is a REIT that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of December 31, 2018, the Company wholly owned 28.2 million rentable square feet with approximately 5,050 commercial customers in six states and held a 95.0% interest in a 395-unit apartment complex.

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

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