Texas Permanent School Fund trimmed its holdings in shares of PS Business Parks Inc (NYSE:PSB) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,447 shares of the real estate investment trust’s stock after selling 1,057 shares during the period. Texas Permanent School Fund’s holdings in PS Business Parks were worth $1,682,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PSB. Flinton Capital Management LLC increased its holdings in shares of PS Business Parks by 85.7% during the second quarter. Flinton Capital Management LLC now owns 1,040 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 480 shares during the period. CIBC Asset Management Inc acquired a new position in shares of PS Business Parks during the third quarter valued at $206,000. Shelton Capital Management acquired a new position in shares of PS Business Parks during the second quarter valued at $257,000. Cubist Systematic Strategies LLC acquired a new position in shares of PS Business Parks during the third quarter valued at $264,000. Finally, Algert Global LLC acquired a new position in shares of PS Business Parks during the third quarter valued at $372,000. 71.80% of the stock is currently owned by institutional investors.

In related news, Director Ronald L. Havner, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $136.61, for a total transaction of $546,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph D. Russell, Jr. sold 800 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $128.52, for a total value of $102,816.00. The disclosure for this sale can be found here. Insiders have sold 9,370 shares of company stock valued at $1,257,849 in the last ninety days. Company insiders own 1.63% of the company’s stock.

A number of brokerages have recently commented on PSB. JPMorgan Chase & Co. lowered PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 price target on the stock. in a report on Friday, December 15th. Zacks Investment Research lowered PS Business Parks from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st.

PS Business Parks Inc (PSB) opened at $112.01 on Friday. PS Business Parks Inc has a 52 week low of $108.11 and a 52 week high of $137.60. The firm has a market capitalization of $3,044.76, a PE ratio of 36.10, a P/E/G ratio of 3.48 and a beta of 0.44.

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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.

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

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