PS Business Parks Inc (NYSE:PSB) insider John W. Petersen sold 5,104 shares of the stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $111.67, for a total transaction of $569,963.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
PS Business Parks Inc (NYSE PSB) traded down $0.08 on Wednesday, reaching $112.54. 69,765 shares of the company’s stock traded hands, compared to its average volume of 94,343. The firm has a market capitalization of $3,101.30, a price-to-earnings ratio of 34.10, a PEG ratio of 3.60 and a beta of 0.53. PS Business Parks Inc has a 12 month low of $107.91 and a 12 month high of $137.60.
PS Business Parks (NYSE:PSB) last posted its earnings results on Tuesday, February 20th. The real estate investment trust reported $1.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.01). The firm had revenue of $101.84 million during the quarter, compared to analyst estimates of $101.56 million. PS Business Parks had a return on equity of 17.35% and a net margin of 40.29%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.39 earnings per share. equities research analysts expect that PS Business Parks Inc will post 6.32 earnings per share for the current year.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of PS Business Parks from a “sell” rating to a “hold” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. cut their price objective on shares of PS Business Parks from $135.00 to $123.00 and set an “underweight” rating on the stock in a report on Wednesday, February 14th.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Xact Kapitalforvaltning AB acquired a new stake in PS Business Parks in the fourth quarter worth $510,000. MetLife Investment Advisors LLC acquired a new stake in PS Business Parks in the fourth quarter worth $1,113,000. Metropolitan Life Insurance Co. NY acquired a new stake in PS Business Parks in the fourth quarter worth $918,000. LPL Financial LLC acquired a new stake in PS Business Parks in the fourth quarter worth $1,972,000. Finally, Millennium Management LLC acquired a new stake in PS Business Parks in the fourth quarter worth $3,494,000. Institutional investors own 71.49% 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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