Mitsubishi UFJ Asset Management UK Ltd. Buys 1,500 Shares of PS Business Parks Inc (PSB)

Mitsubishi UFJ Asset Management UK Ltd. lifted its stake in PS Business Parks Inc (NYSE:PSB) by 24.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,600 shares of the real estate investment trust’s stock after purchasing an additional 1,500 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in PS Business Parks were worth $976,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan lifted its holdings in PS Business Parks by 5.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 7,950 shares of the real estate investment trust’s stock worth $899,000 after buying an additional 430 shares during the last quarter. Meadow Creek Investment Management LLC lifted its holdings in PS Business Parks by 32.8% during the 4th quarter. Meadow Creek Investment Management LLC now owns 1,958 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 484 shares during the last quarter. Royal Bank of Canada lifted its holdings in PS Business Parks by 5.4% during the 1st quarter. Royal Bank of Canada now owns 9,557 shares of the real estate investment trust’s stock worth $1,080,000 after buying an additional 487 shares during the last quarter. Comerica Bank lifted its holdings in PS Business Parks by 2.4% during the 1st quarter. Comerica Bank now owns 20,869 shares of the real estate investment trust’s stock worth $2,417,000 after buying an additional 496 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in PS Business Parks by 23.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,600 shares of the real estate investment trust’s stock worth $294,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 70.93% of the company’s stock.

Shares of PS Business Parks opened at $127.70 on Thursday, MarketBeat Ratings reports. The stock has a market capitalization of $3.51 billion, a P/E ratio of 20.88 and a beta of 0.47. PS Business Parks Inc has a 52-week low of $107.91 and a 52-week high of $137.60.

PS Business Parks (NYSE:PSB) last issued its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.92. The firm had revenue of $103.75 million for the quarter, compared to analysts’ expectations of $101.77 million. PS Business Parks had a return on equity of 18.57% and a net margin of 43.04%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 EPS. equities analysts expect that PS Business Parks Inc will post 6.37 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 28th. Investors of record on Wednesday, June 13th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.66%. The ex-dividend date was Tuesday, June 12th. PS Business Parks’s dividend payout ratio (DPR) is presently 55.46%.

In other PS Business Parks news, Director James H. Kropp sold 1,768 shares of the business’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $117.91, for a total transaction of $208,464.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph D. Russell, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $118.57, for a total value of $355,710.00. The disclosure for this sale can be found here. Insiders sold a total of 19,995 shares of company stock worth $2,397,433 in the last 90 days. 1.50% of the stock is currently owned by insiders.

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised PS Business Parks from an “underweight” rating to a “neutral” rating and set a $122.00 price target for the company in a report on Friday, June 15th. Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $139.00 price target for the company in a report on Tuesday, June 12th. Finally, Citigroup decreased their price target on PS Business Parks from $111.00 to $107.00 and set a “sell” rating for the company in a report on Tuesday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. PS Business Parks has a consensus rating of “Hold” and a consensus price target of $122.67.

PS Business Parks Profile

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 flex, office and industrial space. The Company defines ?flex? space as buildings that are configured with a combination of office and warehouse space and can be designed to fit a number of uses (including office, assembly, showroom, laboratory, light manufacturing and warehouse space).

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

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