Chicago Equity Partners LLC cut its position in PS Business Parks, Inc. (NYSE:PSB) by 23.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,415 shares of the company’s stock after selling 5,010 shares during the period. Chicago Equity Partners LLC owned 0.06% of PS Business Parks worth $1,864,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. BlackRock Advisors LLC increased its position in shares of PS Business Parks by 662.9% in the second quarter. BlackRock Advisors LLC now owns 180,588 shares of the company’s stock valued at $19,157,000 after buying an additional 156,916 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of PS Business Parks by 12.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,002,211 shares of the company’s stock valued at $106,315,000 after buying an additional 107,904 shares in the last quarter. Vanguard Group Inc. increased its position in shares of PS Business Parks by 2.9% in the second quarter. Vanguard Group Inc. now owns 3,136,520 shares of the company’s stock valued at $332,722,000 after buying an additional 89,246 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of PS Business Parks by 49.1% in the second quarter. Nuveen Asset Management LLC now owns 152,193 shares of the company’s stock valued at $16,145,000 after buying an additional 50,087 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of PS Business Parks by 4.1% in the second quarter. BlackRock Fund Advisors now owns 1,259,788 shares of the company’s stock valued at $133,638,000 after buying an additional 49,720 shares in the last quarter. 72.37% of the stock is currently owned by institutional investors.

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

PS Business Parks, Inc. (NYSE:PSB) traded down 0.09% during trading on Friday, hitting $118.28. 67,088 shares of the stock traded hands. The stock has a market cap of $3.21 billion, a P/E ratio of 49.49 and a beta of 0.65. The stock has a 50 day moving average price of $113.91 and a 200-day moving average price of $110.35. PS Business Parks, Inc. has a 52-week low of $81.27 and a 52-week high of $119.11.

PS Business Parks (NYSE:PSB) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.03. PS Business Parks had a net margin of 32.48% and a return on equity of 13.33%. The firm had revenue of $97.50 million for the quarter, compared to the consensus estimate of $96 million. During the same quarter in the prior year, the company posted $1.20 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts anticipate that PS Business Parks, Inc. will post $2.62 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Wednesday, December 14th were issued a $0.75 dividend. The ex-dividend date of this dividend was Monday, December 12th. This represents a $3.00 annualized dividend and a yield of 2.54%. PS Business Parks’s dividend payout ratio (DPR) is presently 125.52%.

WARNING: “Chicago Equity Partners LLC Reduces Stake in PS Business Parks, Inc. (PSB)” was first published by Watch List News and is owned by of Watch List News. If you are reading this piece on another domain, it was stolen and reposted in violation of international copyright laws. The original version of this piece can be read at http://www.watchlistnews.com/chicago-equity-partners-llc-reduces-stake-in-ps-business-parks-inc-psb/1060555.html.

Several brokerages have weighed in on PSB. Zacks Investment Research downgraded shares of PS Business Parks from a “buy” rating to a “hold” rating in a report on Thursday, December 29th. Citigroup Inc. downgraded shares of PS Business Parks from a “neutral” rating to a “sell” rating and set a $107.00 price target on the stock. in a report on Tuesday, December 13th.

In related news, CFO Edward A. Stokx sold 6,000 shares of the stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $108.63, for a total value of $651,780.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sara Grootwassink Lewis sold 4,137 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $106.93, for a total transaction of $442,369.41. Following the completion of the transaction, the director now owns 7,137 shares in the company, valued at approximately $763,159.41. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

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.

5 Day Chart for NYSE:PSB

Want to see what other hedge funds are holding PSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PS Business Parks, Inc. (NYSE:PSB).

Receive News & Ratings for PS Business Parks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PS Business Parks Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.