BidaskClub lowered shares of PS Business Parks, Inc. (NYSE:PSB) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

Separately, Zacks Investment Research upgraded shares of PS Business Parks from a hold rating to a buy rating and set a $140.00 price target on the stock in a report on Tuesday, May 30th.

Shares of PS Business Parks (NYSE PSB) opened at 132.12 on Monday. The firm’s 50 day moving average is $130.94 and its 200 day moving average is $121.39. The company has a market cap of $3.59 billion, a PE ratio of 48.22 and a beta of 0.59. PS Business Parks has a 12 month low of $102.32 and a 12 month high of $134.49.

PS Business Parks (NYSE:PSB) last issued its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.88. The company had revenue of $99.80 million for the quarter, compared to analyst estimates of $100.81 million. PS Business Parks had a net margin of 39.05% and a return on equity of 16.50%. PS Business Parks’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.36 earnings per share. On average, equities analysts predict that PS Business Parks will post $3.16 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Wednesday, September 13th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Tuesday, September 12th. PS Business Parks’s dividend payout ratio is presently 111.11%.

In related news, insider John W. Petersen sold 3,000 shares of PS Business Parks stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $121.59, for a total transaction of $364,770.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James H. Kropp sold 1,768 shares of PS Business Parks stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $124.23, for a total transaction of $219,638.64. Following the transaction, the director now directly owns 10,902 shares of the company’s stock, valued at approximately $1,354,355.46. The disclosure for this sale can be found here. Insiders have sold 17,768 shares of company stock valued at $2,205,924 in the last three months. 1.63% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in PSB. Great Lakes Advisors LLC increased its position 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 in the last quarter. Louisiana State Employees Retirement System increased its position 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 in the last quarter. Breton Hill Capital Ltd. increased its position 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 in the last quarter. Chicago Equity Partners LLC increased its position 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 in the last quarter. Finally, Comerica Bank increased its position in shares of PS Business Parks by 3.7% in the first quarter. Comerica Bank now owns 21,726 shares of the real estate investment trust’s stock worth $2,655,000 after buying an additional 777 shares in the last quarter. 71.09% of the stock is owned by institutional investors and hedge funds.

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.

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