Prudential Financial Inc. cut its holdings in PS Business Parks, Inc. (NYSE:PSB) by 8.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,719 shares of the real estate investment trust’s stock after selling 3,231 shares during the quarter. Prudential Financial Inc. owned 0.13% of PS Business Parks worth $4,596,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. lifted its stake in PS Business Parks by 3,580.8% in the first quarter. BlackRock Inc. now owns 3,311,472 shares of the real estate investment trust’s stock valued at $380,026,000 after buying an additional 3,221,505 shares during the period. Vanguard Group Inc. lifted its stake in PS Business Parks by 3.6% in the first quarter. Vanguard Group Inc. now owns 3,279,968 shares of the real estate investment trust’s stock valued at $376,409,000 after buying an additional 113,922 shares during the period. Wellington Management Group LLP lifted its stake in PS Business Parks by 5.9% in the first quarter. Wellington Management Group LLP now owns 1,226,997 shares of the real estate investment trust’s stock valued at $140,811,000 after buying an additional 67,875 shares during the period. State Street Corp lifted its stake in PS Business Parks by 7.1% in the first quarter. State Street Corp now owns 777,722 shares of the real estate investment trust’s stock valued at $89,248,000 after buying an additional 51,305 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in PS Business Parks by 21.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 343,810 shares of the real estate investment trust’s stock valued at $45,518,000 after buying an additional 60,805 shares during the period. 72.33% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Joseph D. Russell, Jr. sold 800 shares of PS Business Parks stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $133.00, for a total transaction of $106,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sara Grootwassink Lewis sold 5,137 shares of PS Business Parks stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $134.03, for a total value of $688,512.11. Following the sale, the director now owns 4,377 shares in the company, valued at $586,649.31. The disclosure for this sale can be found here. Insiders have sold 32,186 shares of company stock worth $4,319,064 over the last 90 days. 1.63% of the stock is currently owned by corporate insiders.

Several equities analysts have issued reports on PSB shares. BidaskClub lowered PS Business Parks from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a research note on Tuesday, September 5th. Finally, KeyCorp reissued a “hold” rating on shares of PS Business Parks in a research note on Friday, August 25th.

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PS Business Parks, Inc. (NYSE:PSB) opened at 136.54 on Wednesday. PS Business Parks, Inc. has a 12 month low of $102.32 and a 12 month high of $137.34. The stock’s 50 day moving average price is $133.58 and its 200-day moving average price is $126.19. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 44.59 and a beta of 0.60.

PS Business Parks (NYSE:PSB) last issued its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.88. PS Business Parks had a return on equity of 16.50% and a net margin of 39.05%. The firm had revenue of $99.80 million for the quarter, compared to analyst estimates of $100.81 million. During the same period last year, the company earned $1.36 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts anticipate that PS Business Parks, Inc. will post $3.13 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Wednesday, September 13th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $3.40 annualized dividend and a dividend yield of 2.49%. PS Business Parks’s dividend payout ratio is presently 111.11%.

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

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