PS Business Parks Inc (PSB) Director Sells $328,750.00 in Stock
PS Business Parks Inc (NYSE:PSB) Director Joseph D. Russell, Jr. sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $131.50, for a total transaction of $328,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Joseph D. Russell, Jr. also recently made the following trade(s):
- On Thursday, September 14th, Joseph D. Russell, Jr. sold 800 shares of PS Business Parks stock. The shares were sold at an average price of $133.00, for a total transaction of $106,400.00.
Shares of PS Business Parks Inc (NYSE:PSB) opened at $129.14 on Friday. PS Business Parks Inc has a fifty-two week low of $108.97 and a fifty-two week high of $137.60. The stock has a market cap of $3,478.59, a P/E ratio of 21.27, a PEG ratio of 4.18 and a beta of 0.56.
PS Business Parks (NYSE:PSB) last posted its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.87. PS Business Parks had a net margin of 39.78% and a return on equity of 16.95%. The company had revenue of $100.48 million for the quarter, compared to the consensus estimate of $99.55 million. During the same period last year, the company earned $1.43 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. equities research analysts expect that PS Business Parks Inc will post 6.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $3.40 annualized dividend and a dividend yield of 2.63%. PS Business Parks’s dividend payout ratio is presently 113.33%.
Large investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC boosted its position in PS Business Parks by 85.7% during the second quarter. Flinton Capital Management LLC now owns 1,040 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 480 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PS Business Parks by 0.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,236 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 8 shares during the period. CIBC Asset Management Inc bought a new position in PS Business Parks during the third quarter worth $206,000. Everence Capital Management Inc. bought a new position in PS Business Parks during the second quarter worth $211,000. Finally, Riverhead Capital Management LLC boosted its position in PS Business Parks by 81.3% during the second quarter. Riverhead Capital Management LLC now owns 1,632 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 732 shares during the period. 71.97% of the stock is owned by institutional investors and hedge funds.
PSB has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a research report on Tuesday, September 5th. KeyCorp reiterated a “hold” rating on shares of PS Business Parks in a research report on Friday, August 25th.
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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