The Manufacturers Life Insurance Company lessened its position in PS Business Parks, Inc. (NYSE:PSB) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,895 shares of the real estate investment trust’s stock after selling 21 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.05% of PS Business Parks worth $1,972,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Flinton Capital Management LLC raised its holdings in PS Business Parks by 85.7% in the 2nd quarter. Flinton Capital Management LLC now owns 1,040 shares of the real estate investment trust’s stock worth $138,000 after acquiring an additional 480 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PS Business Parks by 0.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,236 shares of the real estate investment trust’s stock worth $164,000 after acquiring an additional 8 shares during the period. Everence Capital Management Inc. bought a new position in PS Business Parks in the 2nd quarter worth $211,000. Riverhead Capital Management LLC raised its holdings in PS Business Parks by 81.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,632 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 732 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in PS Business Parks by 20.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,800 shares of the real estate investment trust’s stock worth $238,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 72.62% of the company’s stock.

PS Business Parks, Inc. (PSB) opened at $133.90 on Monday. The company has a market cap of $3,648.91, a price-to-earnings ratio of 22.32, a P/E/G ratio of 4.39 and a beta of 0.57. PS Business Parks, Inc. has a twelve month low of $102.32 and a twelve month high of $137.60.

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, topping the 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 quarter in the previous year, the firm posted $1.43 EPS. The business’s revenue was up 3.2% compared to the same quarter last year. equities analysts expect that PS Business Parks, Inc. will post 6.11 earnings per share for the current year.

Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a report on Tuesday, September 5th. BidaskClub upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, KeyCorp reiterated a “hold” rating on shares of PS Business Parks in a report on Friday, August 25th.

In other news, insider John W. Petersen sold 3,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $132.22, for a total transaction of $396,660.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jennifer Holden Dunbar sold 4,000 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $130.69, for a total transaction of $522,760.00. Following the transaction, the director now owns 4,000 shares in the company, valued at approximately $522,760. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,186 shares of company stock worth $4,319,064. Insiders own 1.63% of the company’s stock.

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

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