PS Business Parks Inc (NYSE:PSB) insider John W. Petersen sold 3,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $134.92, for a total transaction of $404,760.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
John W. Petersen also recently made the following trade(s):
- On Thursday, August 23rd, John W. Petersen sold 2,500 shares of PS Business Parks stock. The stock was sold at an average price of $129.40, for a total transaction of $323,500.00.
Shares of PS Business Parks stock traded up $0.18 during trading on Thursday, hitting $137.26. The company’s stock had a trading volume of 3,434 shares, compared to its average volume of 81,866. PS Business Parks Inc has a 52 week low of $107.91 and a 52 week high of $137.45. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 4.21 and a beta of 0.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Wednesday, December 12th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, December 11th. This represents a $4.20 annualized dividend and a dividend yield of 3.06%. PS Business Parks’s dividend payout ratio is 68.52%.
A number of analysts have weighed in on PSB shares. Wells Fargo & Co boosted their target price on shares of PS Business Parks from $121.00 to $131.00 and gave the stock a “market perform” rating in a research note on Thursday, August 9th. Zacks Investment Research cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, ValuEngine raised shares of PS Business Parks from a “hold” rating to a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $124.75.
Several institutional investors have recently modified their holdings of the stock. Rhumbline Advisers lifted its holdings in PS Business Parks by 2.2% in the second quarter. Rhumbline Advisers now owns 72,504 shares of the real estate investment trust’s stock valued at $9,317,000 after buying an additional 1,529 shares during the period. Aperio Group LLC lifted its holdings in PS Business Parks by 4.9% in the second quarter. Aperio Group LLC now owns 9,418 shares of the real estate investment trust’s stock valued at $1,210,000 after buying an additional 440 shares during the period. Northern Trust Corp lifted its holdings in PS Business Parks by 0.3% in the second quarter. Northern Trust Corp now owns 540,091 shares of the real estate investment trust’s stock valued at $69,401,000 after buying an additional 1,830 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in PS Business Parks by 9.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 20,397 shares of the real estate investment trust’s stock valued at $2,621,000 after buying an additional 1,700 shares during the period. Finally, Quantum Capital Management acquired a new position in PS Business Parks in the second quarter valued at $218,000. 71.32% of the stock is currently owned by institutional investors.
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About PS Business Parks
PS Business Parks, Inc, a member of the S&P SmallCap 600, is a real estate investment trust (REIT) that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of June 30, 2018, the Company wholly owned 28.3 million rentable square feet with approximately 5,000 commercial customers in six states and a 95.0% interest in a 395-unit apartment complex.
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