Insider Selling: PS Business Parks Inc (NYSE:PSB) Director Sells 1,800 Shares of Stock

PS Business Parks Inc (NYSE:PSB) Director Joseph D. Russell, Jr. sold 1,800 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $180.68, for a total value of $325,224.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PSB traded down $4.95 during trading on Tuesday, reaching $175.63. 11,138 shares of the company traded hands, compared to its average volume of 96,872. The company has a market cap of $4.96 billion, a P/E ratio of 26.96, a PEG ratio of 5.29 and a beta of 0.46. PS Business Parks Inc has a 12-month low of $120.21 and a 12-month high of $186.14. The firm has a fifty day simple moving average of $176.85 and a 200 day simple moving average of $164.05.

PS Business Parks (NYSE:PSB) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.04 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.64). PS Business Parks had a return on equity of 14.84% and a net margin of 35.70%. The company had revenue of $107.78 million during the quarter, compared to analysts’ expectations of $105.10 million. On average, equities research analysts predict that PS Business Parks Inc will post 6.83 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be issued a $1.05 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $4.20 dividend on an annualized basis and a yield of 2.39%. PS Business Parks’s dividend payout ratio is currently 64.91%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new stake in shares of PS Business Parks in the 2nd quarter worth $34,000. Quantamental Technologies LLC acquired a new position in PS Business Parks during the second quarter valued at $50,000. Point72 Hong Kong Ltd purchased a new stake in PS Business Parks in the 2nd quarter worth about $71,000. LS Investment Advisors LLC lifted its stake in PS Business Parks by 63.6% in the 2nd quarter. LS Investment Advisors LLC now owns 972 shares of the real estate investment trust’s stock worth $164,000 after acquiring an additional 378 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in PS Business Parks during the 2nd quarter worth about $205,000. Institutional investors own 70.64% of the company’s stock.

Separately, Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Friday, August 16th.

About PS Business Parks

PS Business Parks, Inc, a member of the S&P SmallCap 600, is a REIT that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of December 31, 2018, the Company wholly owned 28.2 million rentable square feet with approximately 5,050 commercial customers in six states and held a 95.0% interest in a 395-unit apartment complex.

Recommended Story: How to use beta for portfolio diversification

Insider Buying and Selling by Quarter for PS Business Parks (NYSE:PSB)

Receive News & Ratings for PS Business Parks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PS Business Parks and related companies with's FREE daily email newsletter.