Edward A. Stokx Sells 6,000 Shares of PS Business Parks Inc. (PSB) Stock
PS Business Parks Inc. (NYSE:PSB) CFO Edward A. Stokx sold 6,000 shares of the business’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $108.63, for a total transaction of $651,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of PS Business Parks Inc. (NYSE:PSB) opened at 107.83 on Tuesday. The firm’s 50-day moving average is $107.71 and its 200-day moving average is $107.12. The company has a market cap of $2.92 billion, a PE ratio of 45.12 and a beta of 0.65. PS Business Parks Inc. has a 12 month low of $81.27 and a 12 month high of $117.00.
PS Business Parks (NYSE:PSB) last announced its earnings results on Tuesday, October 25th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.03. The firm had revenue of $97.50 million for the quarter, compared to analyst estimates of $96 million. PS Business Parks had a net margin of 32.48% and a return on equity of 13.33%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 EPS. On average, equities research analysts predict that PS Business Parks Inc. will post $5.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Wednesday, December 14th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, December 12th. This represents a $3.00 dividend on an annualized basis and a yield of 2.78%. PS Business Parks’s dividend payout ratio (DPR) is currently 125.52%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position in shares of PS Business Parks by 3.8% in the first quarter. State Street Corp now owns 676,083 shares of the company’s stock worth $67,951,000 after buying an additional 24,732 shares during the period. Geode Capital Management LLC boosted its position in shares of PS Business Parks by 10.4% in the first quarter. Geode Capital Management LLC now owns 207,832 shares of the company’s stock worth $20,888,000 after buying an additional 19,661 shares during the period. Legal & General Group Plc boosted its position in shares of PS Business Parks by 13.1% in the first quarter. Legal & General Group Plc now owns 41,560 shares of the company’s stock worth $4,179,000 after buying an additional 4,814 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of PS Business Parks during the first quarter worth about $1,062,000. Finally, A.R.T. Advisors LLC acquired a new position in shares of PS Business Parks during the first quarter worth about $1,084,000. 72.92% of the stock is owned by institutional investors.
Separately, Zacks Investment Research cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd.
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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