Great Lakes Advisors LLC boosted its stake in PS Business Parks, Inc. (NYSE:PSB) by 18.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,700 shares of the real estate investment trust’s stock after buying an additional 2,596 shares during the period. Great Lakes Advisors LLC owned 0.06% of PS Business Parks worth $2,211,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Everence Capital Management Inc. purchased a new stake in shares of PS Business Parks during the second quarter valued at $211,000. KBC Group NV raised its stake in shares of PS Business Parks by 2.3% in the second quarter. KBC Group NV now owns 18,148 shares of the real estate investment trust’s stock valued at $2,403,000 after buying an additional 401 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of PS Business Parks by 17.8% in the second quarter. BNP Paribas Arbitrage SA now owns 13,254 shares of the real estate investment trust’s stock valued at $1,755,000 after buying an additional 2,003 shares during the last quarter. Legal & General Group Plc raised its stake in shares of PS Business Parks by 7.3% in the second quarter. Legal & General Group Plc now owns 83,084 shares of the real estate investment trust’s stock valued at $10,999,000 after buying an additional 5,640 shares during the last quarter. Finally, Dupont Capital Management Corp raised its stake in shares of PS Business Parks by 35.0% in the second quarter. Dupont Capital Management Corp now owns 60,785 shares of the real estate investment trust’s stock valued at $8,047,000 after buying an additional 15,771 shares during the last quarter. 72.36% of the stock is currently owned by institutional investors.

Shares of PS Business Parks, Inc. (PSB) opened at 133.35 on Tuesday. The company has a 50-day moving average price of $131.55 and a 200 day moving average price of $123.79. PS Business Parks, Inc. has a 52 week low of $102.32 and a 52 week high of $136.27. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 43.55 and a beta of 0.59.

PS Business Parks (NYSE:PSB) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.88. PS Business Parks had a net margin of 39.05% and a return on equity of 16.50%. The business had revenue of $99.80 million for the quarter, compared to analysts’ expectations of $100.81 million. During the same quarter in the previous year, the firm posted $1.36 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts expect that PS Business Parks, Inc. will post $3.12 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $3.40 annualized dividend and a dividend yield of 2.55%. PS Business Parks’s payout ratio is currently 111.11%.

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Several analysts have recently weighed in on the company. KeyCorp reissued a “hold” rating on shares of PS Business Parks in a report on Friday. BidaskClub lowered PS Business Parks from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Tuesday, May 30th.

In other news, insider John W. Petersen sold 3,000 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $132.22, for a total value of $396,660.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph D. Russell, Jr. sold 2,500 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $133.37, for a total transaction of $333,425.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,000 shares of company stock worth $1,707,250. 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.

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

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