Ameritas Investment Partners Inc. purchased a new position in PS Business Parks, Inc. (NYSE:PSB) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,703 shares of the real estate investment trust’s stock, valued at approximately $195,000.

A number of other hedge funds also recently modified their holdings of PSB. Louisiana State Employees Retirement System boosted its stake in shares of PS Business Parks by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 8,000 shares of the real estate investment trust’s stock worth $918,000 after buying an additional 200 shares during the last quarter. Breton Hill Capital Ltd. boosted its stake in shares of PS Business Parks by 297.7% in the first quarter. Breton Hill Capital Ltd. now owns 9,076 shares of the real estate investment trust’s stock worth $1,042,000 after buying an additional 6,794 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in shares of PS Business Parks by 507.9% in the first quarter. Great Lakes Advisors LLC now owns 14,104 shares of the real estate investment trust’s stock worth $1,619,000 after buying an additional 11,784 shares during the last quarter. Putnam Investments LLC boosted its stake in shares of PS Business Parks by 3.5% in the fourth quarter. Putnam Investments LLC now owns 5,216 shares of the real estate investment trust’s stock worth $608,000 after buying an additional 178 shares during the last quarter. Finally, Chicago Equity Partners LLC boosted its stake in shares of PS Business Parks by 11.3% in the first quarter. Chicago Equity Partners LLC now owns 20,960 shares of the real estate investment trust’s stock worth $2,405,000 after buying an additional 2,125 shares during the last quarter. Institutional investors and hedge funds own 71.26% of the company’s stock.

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

Shares of PS Business Parks, Inc. (PSB) opened at 132.00 on Friday. PS Business Parks, Inc. has a 52-week low of $101.46 and a 52-week high of $134.49. The company’s 50 day moving average price is $125.40 and its 200 day moving average price is $117.96. The stock has a market cap of $3.59 billion, a PE ratio of 48.18 and a beta of 0.60.

PS Business Parks (NYSE:PSB) last posted its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.11. PS Business Parks had a net margin of 37.42% and a return on equity of 15.69%. The business had revenue of $100.19 million during the quarter, compared to analysts’ expectations of $95.85 million. During the same quarter in the prior year, the business posted $1.26 earnings per share. On average, analysts anticipate that PS Business Parks, Inc. will post $3.16 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Wednesday, June 14th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Monday, June 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.58%. PS Business Parks’s dividend payout ratio (DPR) is currently 124.09%.

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A number of analysts have commented on PSB shares. Zacks Investment Research upgraded PS Business Parks from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Friday, April 7th. BidaskClub upgraded PS Business Parks from a “buy” rating to a “strong-buy” rating in a research report on Thursday.

In other news, Director James H. Kropp sold 1,768 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $124.23, for a total value of $219,638.64. Following the completion of the transaction, the director now owns 10,902 shares of the company’s stock, valued at $1,354,355.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John W. Petersen sold 3,500 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $129.83, for a total transaction of $454,405.00. The disclosure for this sale can be found here. Insiders sold 17,768 shares of company stock valued at $2,205,924 in the last three months. Company 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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