PS Business Parks, Inc. (PSB) Shares Bought by First Trust Advisors LP

First Trust Advisors LP increased its stake in PS Business Parks, Inc. (NYSE:PSB) by 31.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,467 shares of the real estate investment trust’s stock after acquiring an additional 9,043 shares during the quarter. First Trust Advisors LP owned 0.14% of PS Business Parks worth $5,002,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of PS Business Parks by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,300,402 shares of the real estate investment trust’s stock valued at $436,940,000 after acquiring an additional 20,434 shares in the last quarter. State Street Corp increased its stake in shares of PS Business Parks by 3.2% in the 2nd quarter. State Street Corp now owns 802,768 shares of the real estate investment trust’s stock valued at $106,276,000 after acquiring an additional 25,046 shares in the last quarter. Northern Trust Corp increased its stake in shares of PS Business Parks by 3.7% in the 2nd quarter. Northern Trust Corp now owns 524,636 shares of the real estate investment trust’s stock valued at $69,457,000 after acquiring an additional 18,570 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of PS Business Parks by 21.5% in the 2nd 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 acquiring an additional 60,805 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of PS Business Parks by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 300,398 shares of the real estate investment trust’s stock valued at $39,769,000 after acquiring an additional 10,660 shares in the last quarter. Institutional investors own 72.02% of the company’s stock.

In other PS Business Parks news, insider John W. Petersen sold 3,000 shares of PS Business Parks stock in a transaction on 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 available through this link. Also, Director Sara Grootwassink Lewis sold 5,137 shares of PS Business Parks stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $134.03, for a total transaction of $688,512.11. Following the transaction, the director now directly owns 4,377 shares in the company, valued at $586,649.31. The disclosure for this sale can be found here. In the last three months, insiders sold 30,256 shares of company stock valued at $4,076,147. 1.63% of the stock is currently owned by insiders.

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Shares of PS Business Parks, Inc. (NYSE:PSB) opened at $134.83 on Friday. PS Business Parks, Inc. has a 52-week low of $107.36 and a 52-week high of $137.60. The stock has a market cap of $3,608.31, a price-to-earnings ratio of 22.07, a P/E/G ratio of 4.34 and a beta of 0.57.

PS Business Parks (NYSE:PSB) last posted its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, beating 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 business had revenue of $100.48 million during the quarter, compared to the consensus estimate of $99.55 million. During the same quarter last year, the firm posted $1.43 EPS. PS Business Parks’s revenue was up 3.2% compared to the same quarter last year. equities research analysts anticipate that PS Business Parks, Inc. will post 6.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.52%. The ex-dividend date is Tuesday, December 12th. PS Business Parks’s payout ratio is currently 113.33%.

Several analysts have recently weighed in 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 price objective for the company in a research note on Tuesday, September 5th. BidaskClub upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, KeyCorp reissued a “hold” rating on shares of PS Business Parks in a research report on Friday, August 25th.

PS Business Parks 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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