PS Business Parks, Inc. (PSB) Shares Bought by Mason Street Advisors LLC
Mason Street Advisors LLC boosted its position in PS Business Parks, Inc. (NYSE:PSB) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,569 shares of the real estate investment trust’s stock after buying an additional 302 shares during the period. Mason Street Advisors LLC’s holdings in PS Business Parks were worth $524,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSB. Norges Bank purchased a new position in PS Business Parks during the fourth quarter worth $25,004,000. Teachers Advisors LLC raised its position in shares of PS Business Parks by 18.4% in the fourth quarter. Teachers Advisors LLC now owns 224,219 shares of the real estate investment trust’s stock worth $26,126,000 after buying an additional 34,891 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of PS Business Parks during the fourth quarter worth approximately $3,166,000. DUPONT CAPITAL MANAGEMENT Corp raised its position in shares of PS Business Parks by 68.8% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 45,014 shares of the real estate investment trust’s stock worth $5,166,000 after buying an additional 18,354 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of PS Business Parks during the first quarter worth approximately $1,874,000. 71.26% of the stock is owned by hedge funds and other institutional investors.
PS Business Parks, Inc. (PSB) opened at 132.00 on Friday. The stock’s 50 day moving average is $125.40 and its 200-day moving average is $117.96. PS Business Parks, Inc. has a 12 month low of $101.46 and a 12 month high of $134.49. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 48.18 and a beta of 0.60.
PS Business Parks (NYSE:PSB) last posted its earnings results on Tuesday, April 25th. The real estate investment trust reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $100.19 million during the quarter, compared to analysts’ expectations of $95.85 million. PS Business Parks had a net margin of 37.42% and a return on equity of 15.69%. During the same quarter last year, the company posted $1.26 EPS. On average, analysts anticipate that PS Business Parks, Inc. will post $3.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Wednesday, June 14th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Monday, June 12th. PS Business Parks’s dividend payout ratio is presently 124.09%.
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A number of research analysts have recently commented on the stock. BidaskClub raised shares of PS Business Parks from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Zacks Investment Research raised shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Tuesday, May 30th.
In other news, insider John W. Petersen sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $129.83, for a total transaction of $454,405.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James H. Kropp sold 1,768 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $124.23, for a total transaction of $219,638.64. Following the sale, the director now owns 10,902 shares of the company’s stock, valued at approximately $1,354,355.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,768 shares of company stock valued at $2,205,924. 1.63% of the stock is currently owned by corporate insiders.
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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