Kempen Capital Management N.V. Sells 2,797 Shares of PS Business Parks, Inc. (PSB)

Kempen Capital Management N.V. reduced its position in shares of PS Business Parks, Inc. (NYSE:PSB) by 21.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,286 shares of the real estate investment trust’s stock after selling 2,797 shares during the period. Kempen Capital Management N.V.’s holdings in PS Business Parks were worth $1,362,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PSB. BlackRock Inc. boosted its position in shares of PS Business Parks by 3,580.8% during the first quarter. BlackRock Inc. now owns 3,311,472 shares of the real estate investment trust’s stock worth $380,026,000 after buying an additional 3,221,505 shares during the period. Vanguard Group Inc. boosted its position in shares of PS Business Parks by 3.6% during the first quarter. Vanguard Group Inc. now owns 3,279,968 shares of the real estate investment trust’s stock worth $376,409,000 after buying an additional 113,922 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of PS Business Parks by 44.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 283,005 shares of the real estate investment trust’s stock worth $32,478,000 after buying an additional 87,442 shares during the period. Wellington Management Group LLP boosted its position in shares of PS Business Parks by 5.9% during the first quarter. Wellington Management Group LLP now owns 1,226,997 shares of the real estate investment trust’s stock worth $140,811,000 after buying an additional 67,875 shares during the period. Finally, State Street Corp boosted its position in shares of PS Business Parks by 7.1% during the first quarter. State Street Corp now owns 777,722 shares of the real estate investment trust’s stock worth $89,248,000 after buying an additional 51,305 shares during the period. 72.33% of the stock is owned by institutional investors.

Several research analysts have recently weighed in on the company. Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research report on Tuesday, September 5th. BidaskClub raised PS Business Parks from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, KeyCorp reaffirmed a “hold” rating on shares of PS Business Parks in a research report on Friday, August 25th.

PS Business Parks, Inc. (NYSE:PSB) traded up 0.06% on Tuesday, hitting $135.46. The stock had a trading volume of 6,270 shares. The company has a 50-day moving average price of $133.52 and a 200-day moving average price of $126.05. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 44.24 and a beta of 0.60. PS Business Parks, Inc. has a 52 week low of $102.32 and a 52 week high of $137.34.

PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.88. The firm had revenue of $99.80 million for the quarter, compared to analysts’ expectations of $100.81 million. PS Business Parks had a net margin of 39.05% and a return on equity of 16.50%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 earnings per share. Equities research analysts anticipate that PS Business Parks, Inc. will post $3.13 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $3.40 annualized dividend and a dividend yield of 2.51%. PS Business Parks’s payout ratio is currently 111.11%.

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In related news, Director Joseph D. Russell, Jr. sold 800 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $133.00, for a total value of $106,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John W. Petersen sold 3,000 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $132.22, for a total transaction of $396,660.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,186 shares of company stock worth $4,319,064. Insiders own 1.63% of the company’s stock.

About PS Business Parks

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.

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

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