Goldman Sachs Group Inc. lessened its stake in PS Business Parks, Inc. (NYSE:PSB) by 12.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 496,100 shares of the real estate investment trust’s stock after selling 69,564 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.82% of PS Business Parks worth $65,679,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Voya Investment Management LLC grew its stake in PS Business Parks by 23.5% in the 2nd quarter. Voya Investment Management LLC now owns 29,967 shares of the real estate investment trust’s stock valued at $3,967,000 after buying an additional 5,699 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of PS Business Parks by 3.7% during 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 purchasing an additional 10,660 shares in the last quarter. Hancock Holding Co. grew its position in shares of PS Business Parks by 68.7% during the 2nd quarter. Hancock Holding Co. now owns 17,513 shares of the real estate investment trust’s stock valued at $2,319,000 after purchasing an additional 7,129 shares in the last quarter. California Public Employees Retirement System grew its position in shares of PS Business Parks by 4.0% during the 2nd quarter. California Public Employees Retirement System now owns 67,420 shares of the real estate investment trust’s stock valued at $8,926,000 after purchasing an additional 2,600 shares in the last quarter. Finally, FMR LLC purchased a new position in shares of PS Business Parks during the 2nd quarter valued at $21,739,000. 72.33% of the stock is currently owned by institutional investors.

PSB has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of PS Business Parks from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 15th. KeyCorp reissued a “hold” rating on shares of PS Business Parks in a research note on Friday, August 25th. Finally, Zacks Investment Research downgraded shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Monday, September 4th.

PS Business Parks, Inc. (PSB) opened at 135.72 on Friday. The company has a market capitalization of $3.69 billion, a P/E ratio of 44.32 and a beta of 0.60. The stock’s 50 day moving average is $134.40 and its 200 day moving average is $127.90. PS Business Parks, Inc. has a 52 week low of $102.32 and a 52 week high of $137.60.

PS Business Parks (NYSE:PSB) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $100.81 million. During the same quarter last year, the business posted $1.36 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities research analysts expect that PS Business Parks, Inc. will post $3.13 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Wednesday, September 13th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $3.40 dividend on an annualized basis and a yield of 2.51%. PS Business Parks’s payout ratio is 111.11%.

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In related news, insider John W. Petersen sold 3,000 shares of PS Business Parks stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $132.22, for a total transaction of $396,660.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph D. Russell, Jr. sold 800 shares of PS Business Parks stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $133.00, for a total transaction of $106,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 32,186 shares of company stock valued at $4,319,064 in the last quarter. 1.63% of the stock is currently owned by company insiders.

PS Business Parks Company 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.

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

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