Insider Selling: PS Business Parks Inc (NYSE:PSB) Director Sells $729,524.18 in Stock

PS Business Parks Inc (NYSE:PSB) Director Jennifer Holden Dunbar sold 4,039 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $180.62, for a total value of $729,524.18. Following the sale, the director now directly owns 1,971 shares in the company, valued at $356,002.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of PSB stock opened at $175.78 on Friday. PS Business Parks Inc has a 12-month low of $125.52 and a 12-month high of $192.13. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average price is $181.71 and its 200-day moving average price is $172.67. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 5.11 and a beta of 0.42.

PS Business Parks (NYSE:PSB) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.15. PS Business Parks had a return on equity of 14.96% and a net margin of 35.61%. The firm had revenue of $108.06 million for the quarter, compared to analysts’ expectations of $106.77 million. As a group, research analysts predict that PS Business Parks Inc will post 6.9 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $1.05 dividend. The ex-dividend date is Thursday, December 12th. This represents a $4.20 annualized dividend and a dividend yield of 2.39%. PS Business Parks’s dividend payout ratio (DPR) is 64.91%.

A number of research firms have commented on PSB. Citigroup raised PS Business Parks from a “sell” rating to a “neutral” rating and raised their price target for the company from $142.00 to $180.00 in a report on Monday, September 23rd. ValuEngine cut PS Business Parks from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Friday, August 16th.

Several hedge funds have recently modified their holdings of PSB. WINTON GROUP Ltd increased its holdings in shares of PS Business Parks by 33.8% in the second quarter. WINTON GROUP Ltd now owns 202,877 shares of the real estate investment trust’s stock worth $34,191,000 after purchasing an additional 51,280 shares during the last quarter. Retirement Systems of Alabama purchased a new position in PS Business Parks in the second quarter worth about $4,387,000. Campbell & CO Investment Adviser LLC purchased a new position in PS Business Parks in the second quarter worth about $205,000. Nisa Investment Advisors LLC grew its position in PS Business Parks by 16.9% in the second quarter. Nisa Investment Advisors LLC now owns 7,326 shares of the real estate investment trust’s stock worth $1,235,000 after acquiring an additional 1,061 shares in the last quarter. Finally, 6 Meridian grew its position in PS Business Parks by 1.9% in the second quarter. 6 Meridian now owns 3,470 shares of the real estate investment trust’s stock worth $585,000 after acquiring an additional 65 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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