Campbell & CO Investment Adviser LLC Purchases New Position in PS Business Parks, Inc. (PSB)
Campbell & CO Investment Adviser LLC acquired a new position in shares of PS Business Parks, Inc. (NYSE:PSB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,862 shares of the real estate investment trust’s stock, valued at approximately $247,000.
A number of other hedge funds have also recently added to or reduced their stakes in PSB. Boston Advisors LLC purchased a new stake in PS Business Parks during the second quarter worth $6,429,000. Russell Investments Group Ltd. raised its stake in PS Business Parks by 25.1% in the second quarter. Russell Investments Group Ltd. now owns 32,413 shares of the real estate investment trust’s stock worth $4,291,000 after buying an additional 6,508 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. purchased a new stake in PS Business Parks during the second quarter worth $1,470,000. Aperio Group LLC raised its stake in PS Business Parks by 4.7% in the second quarter. Aperio Group LLC now owns 9,764 shares of the real estate investment trust’s stock worth $1,293,000 after buying an additional 438 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in PS Business Parks by 56.2% in the second quarter. State of Alaska Department of Revenue now owns 6,935 shares of the real estate investment trust’s stock worth $916,000 after buying an additional 2,495 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.
PS Business Parks, Inc. (NYSE PSB) traded down 0.87% during trading on Friday, hitting $130.61. 65,099 shares of the company were exchanged. The firm’s 50 day moving average price is $131.28 and its 200-day moving average price is $122.48. The stock has a market capitalization of $3.55 billion, a PE ratio of 42.66 and a beta of 0.59. PS Business Parks, Inc. has a 1-year low of $102.32 and a 1-year high of $136.27.
PS Business Parks (NYSE:PSB) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.88. PS Business Parks had a return on equity of 16.50% and a net margin of 39.05%. The business had revenue of $99.80 million during the quarter, compared to analyst estimates of $100.81 million. During the same quarter last year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts predict that PS Business Parks, Inc. will post $3.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Wednesday, September 13th will be paid a $0.85 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.60%. PS Business Parks’s dividend payout ratio (DPR) is currently 111.11%.
A number of analysts have recently issued reports on PSB shares. Zacks Investment Research downgraded shares of PS Business Parks from a “buy” rating to a “hold” rating in a report on Monday, May 29th. BidaskClub raised shares of PS Business Parks from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 15th.
In other news, insider John W. Petersen sold 3,500 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $129.83, for a total value of $454,405.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.63% of the stock is currently owned by company insiders.
PS Business Parks Company Profile
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.
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