Nomura Asset Management Co. Ltd. boosted its holdings in shares of PS Business Parks Inc (NYSE:PSB) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,550 shares of the real estate investment trust’s stock after acquiring an additional 200 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in PS Business Parks were worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of PSB. Quantamental Technologies LLC bought a new position in PS Business Parks during the 2nd quarter worth about $50,000. LS Investment Advisors LLC grew its holdings in PS Business Parks by 63.6% during 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. Campbell & CO Investment Adviser LLC bought a new position in PS Business Parks during the 2nd quarter worth about $205,000. Profund Advisors LLC grew its holdings in PS Business Parks by 24.8% during the 2nd quarter. Profund Advisors LLC now owns 1,994 shares of the real estate investment trust’s stock worth $336,000 after acquiring an additional 396 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its holdings in PS Business Parks by 26.9% during the 1st quarter. Pictet Asset Management Ltd. now owns 3,300 shares of the real estate investment trust’s stock worth $518,000 after acquiring an additional 700 shares in the last quarter. Institutional investors own 70.60% of the company’s stock.
In other news, Director Joseph D. Russell, Jr. sold 1,800 shares of the firm’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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by company insiders.
PS Business Parks stock traded up $0.89 during midday trading on Thursday, hitting $179.99. 1,809 shares of the company’s stock were exchanged, compared to its average volume of 104,239. PS Business Parks Inc has a 12 month low of $120.21 and a 12 month high of $186.14. The company has a market cap of $4.94 billion, a PE ratio of 27.84, a P/E/G ratio of 5.27 and a beta of 0.46. The firm has a 50-day moving average of $177.13 and a two-hundred day moving average of $165.23.
PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.64). PS Business Parks had a net margin of 35.70% and a return on equity of 14.84%. The firm had revenue of $107.78 million during the quarter, compared to the consensus estimate of $105.10 million. As a group, sell-side analysts expect that PS Business Parks Inc will post 6.83 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Wednesday, September 11th. PS Business Parks’s dividend payout ratio is currently 64.91%.
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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