State of Tennessee Treasury Department continued to hold its stake in shares of PS Business Parks, Inc. (NYSE:PSB) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,213 shares of the real estate investment trust’s stock at the close of the 2nd quarter. State of Tennessee Treasury Department owned 0.07% of PS Business Parks worth $2,411,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Chicago Equity Partners LLC increased its stake in shares of PS Business Parks by 84.6% in the second quarter. Chicago Equity Partners LLC now owns 38,686 shares of the real estate investment trust’s stock valued at $5,122,000 after purchasing an additional 17,726 shares during the period. Comerica Bank boosted its holdings in shares of PS Business Parks by 3.7% in the first quarter. Comerica Bank now owns 21,726 shares of the real estate investment trust’s stock valued at $2,655,000 after acquiring an additional 777 shares in the last quarter. Oxford Asset Management bought a new position in shares of PS Business Parks in the first quarter valued at approximately $237,000. New York State Teachers Retirement System boosted its holdings in shares of PS Business Parks by 1.8% in the first quarter. New York State Teachers Retirement System now owns 74,529 shares of the real estate investment trust’s stock valued at $8,553,000 after acquiring an additional 1,300 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of PS Business Parks by 6.5% in the first quarter. First Trust Advisors LP now owns 38,919 shares of the real estate investment trust’s stock valued at $4,466,000 after acquiring an additional 2,390 shares in the last quarter. Institutional investors own 72.36% of the company’s stock.

PSB has been the subject of several recent analyst reports. Zacks Investment Research cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a report on Monday, September 4th. KeyCorp reiterated a “hold” rating on shares of PS Business Parks in a report on Friday, August 25th. Finally, BidaskClub cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a report on Monday, July 24th.

PS Business Parks, Inc. (NYSE:PSB) opened at 135.05 on Friday. The stock has a 50 day moving average of $133.45 and a 200 day moving average of $125.79. The company has a market capitalization of $3.68 billion, a PE ratio of 44.11 and a beta of 0.60. PS Business Parks, Inc. has a 12-month low of $102.32 and a 12-month high of $137.34.

PS Business Parks (NYSE:PSB) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.88. PS Business Parks had a net margin of 39.05% and a return on equity of 16.50%. The company had revenue of $99.80 million during the quarter, compared to the consensus estimate of $100.81 million. During the same period in the previous year, the firm posted $1.36 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. On average, equities research analysts predict that PS Business Parks, Inc. will post $3.13 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Tuesday, September 12th. PS Business Parks’s dividend payout ratio is presently 111.11%.

In other PS Business Parks news, Director Robert S. Rollo sold 8,613 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $136.24, for a total value of $1,173,435.12. Following the completion of the transaction, the director now directly owns 7,515 shares of the company’s stock, valued at $1,023,843.60. The sale was disclosed in a legal filing with the SEC, which is available at 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 completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at $522,760. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,186 shares of company stock valued at $4,319,064. Insiders own 1.63% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international trademark and copyright law. The legal version of this article can be read at https://www.thecerbatgem.com/2017/09/17/state-of-tennessee-treasury-department-maintains-stake-in-ps-business-parks-inc-psb.html.

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.

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

Receive News & Stock Ratings for PS Business Parks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PS Business Parks Inc. and related stocks with our FREE daily email newsletter.