PS Business Parks, Inc. (NYSE:PSB) Director Jennifer Holden Dunbar sold 6,068 shares of the company’s stock in a transaction on Monday, December 6th. The stock was sold at an average price of $178.91, for a total transaction of $1,085,625.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
PSB stock traded up $1.07 during mid-day trading on Tuesday, hitting $179.51. 77,558 shares of the company were exchanged, compared to its average volume of 88,919. The firm has a market cap of $4.95 billion, a P/E ratio of 32.27 and a beta of 0.51. The firm’s 50 day simple moving average is $173.57 and its 200 day simple moving average is $161.22. PS Business Parks, Inc. has a 1-year low of $127.50 and a 1-year high of $181.89.
PS Business Parks (NYSE:PSB) last posted its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.04). PS Business Parks had a net margin of 46.61% and a return on equity of 19.24%. During the same quarter last year, the company earned $1.61 earnings per share. On average, equities research analysts forecast that PS Business Parks, Inc. will post 6.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 30th. Stockholders of record on Wednesday, December 15th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, December 14th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.34%. PS Business Parks’s dividend payout ratio (DPR) is presently 75.95%.
Knightscope, Inc., a developer of advanced physical security technologies focused on enhancing U.S. security operations, has commenced its offering of up to $40 million of Class A common stock, with shares to be listed immediately following closing on NASDAQ under the ticker symbol “KSCP.”
Several hedge funds and other institutional investors have recently bought and sold shares of the company. JJJ Advisors Inc. grew its stake in shares of PS Business Parks by 80.2% in the third quarter. JJJ Advisors Inc. now owns 200 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 89 shares in the last quarter. Dark Forest Capital Management LP grew its stake in shares of PS Business Parks by 314.5% in the third quarter. Dark Forest Capital Management LP now owns 228 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 173 shares in the last quarter. FinTrust Capital Advisors LLC grew its stake in shares of PS Business Parks by 228.6% in the second quarter. FinTrust Capital Advisors LLC now owns 345 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 240 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in shares of PS Business Parks by 78.7% in the second quarter. Advisor Group Holdings Inc. now owns 586 shares of the real estate investment trust’s stock valued at $87,000 after buying an additional 258 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of PS Business Parks by 778.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 592 shares in the last quarter. Institutional investors own 69.73% of the company’s stock.
PSB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of PS Business Parks from a “neutral” rating to an “overweight” rating and set a $175.00 target price for the company in a research report on Tuesday, September 14th. Wells Fargo & Company increased their target price on shares of PS Business Parks from $163.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, November 19th. Finally, Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $171.00 target price for the company in a research report on Thursday, October 7th.
About PS Business Parks
PS Business Parks, Inc is a real estate investment trust. The firm engages in the ownership, operation, acquisition, and development of commercial properties, primarily multi-tenant flex, office, and industrial space. Its commercial real estate properties include warehouse and office space. The company was founded in 1986 and is headquartered in Glendale, CA.
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