Great West Life Assurance Co. Can decreased its holdings in PS Business Parks Inc (NYSE:PSB) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,774 shares of the real estate investment trust’s stock after selling 1,392 shares during the period. Great West Life Assurance Co. Can owned 0.15% of PS Business Parks worth $5,305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of PS Business Parks by 0.6% in the second quarter. Vanguard Group Inc. now owns 3,300,402 shares of the real estate investment trust’s stock worth $436,940,000 after purchasing an additional 20,434 shares in the last quarter. State Street Corp increased its stake in shares of PS Business Parks by 3.2% in the second quarter. State Street Corp now owns 802,768 shares of the real estate investment trust’s stock worth $106,276,000 after purchasing an additional 25,046 shares in the last quarter. Northern Trust Corp increased its stake in shares of PS Business Parks by 3.7% in the second quarter. Northern Trust Corp now owns 524,636 shares of the real estate investment trust’s stock worth $69,457,000 after purchasing an additional 18,570 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of PS Business Parks by 21.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 343,810 shares of the real estate investment trust’s stock worth $45,518,000 after purchasing an additional 60,805 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of PS Business Parks by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 300,398 shares of the real estate investment trust’s stock worth $39,769,000 after purchasing an additional 10,660 shares in the last quarter. Hedge funds and other institutional investors own 71.97% of the company’s stock.

A number of research firms have recently commented on PSB. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research report on Tuesday, September 5th. KeyCorp restated a “hold” rating on shares of PS Business Parks in a research report on Friday, August 25th.

PS Business Parks Inc (NYSE PSB) traded up $1.49 during mid-day trading on Friday, hitting $129.14. 60,200 shares of the stock were exchanged, compared to its average volume of 93,681. PS Business Parks Inc has a one year low of $108.97 and a one year high of $137.60. The company has a market capitalization of $3,478.59, a price-to-earnings ratio of 21.27, a P/E/G ratio of 4.18 and a beta of 0.56.

PS Business Parks (NYSE:PSB) last announced its earnings results on Tuesday, October 24th. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.87. PS Business Parks had a net margin of 39.78% and a return on equity of 16.95%. The business had revenue of $100.48 million during the quarter, compared to analyst estimates of $99.55 million. During the same period in the previous year, the business posted $1.43 earnings per share. PS Business Parks’s revenue for the quarter was up 3.2% on a year-over-year basis. analysts anticipate that PS Business Parks Inc will post 6.11 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be given a dividend of $0.85 per share. The ex-dividend date is Tuesday, December 12th. This represents a $3.40 annualized dividend and a yield of 2.63%. PS Business Parks’s payout ratio is presently 113.33%.

In other news, Director Robert S. Rollo sold 8,613 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 7,515 shares in the company, valued at approximately $1,023,843.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sara Grootwassink Lewis sold 5,137 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $134.03, for a total transaction of $688,512.11. Following the completion of the sale, the director now owns 4,377 shares of the company’s stock, valued at $586,649.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,120 shares of company stock valued at $3,123,381. 1.63% of the stock is currently owned by company insiders.

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PS Business Parks 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.

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

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