California Public Employees Retirement System raised its stake in PS Business Parks Inc (NYSE:PSB) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,142 shares of the real estate investment trust’s stock after acquiring an additional 1,722 shares during the quarter. California Public Employees Retirement System owned approximately 0.25% of PS Business Parks worth $9,230,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of PS Business Parks by 21.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 343,810 shares of the real estate investment trust’s stock worth $45,518,000 after acquiring an additional 60,805 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of PS Business Parks by 27.7% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 29,575 shares of the real estate investment trust’s stock worth $3,948,000 after acquiring an additional 6,410 shares during the last quarter. Chicago Equity Partners LLC lifted its holdings in shares of PS Business Parks by 84.6% in the second quarter. Chicago Equity Partners LLC now owns 38,686 shares of the real estate investment trust’s stock worth $5,122,000 after acquiring an additional 17,726 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of PS Business Parks by 17.8% in the second quarter. BNP Paribas Arbitrage SA now owns 13,254 shares of the real estate investment trust’s stock worth $1,755,000 after acquiring an additional 2,003 shares during the last quarter. Finally, 361 Capital LLC bought a new position in shares of PS Business Parks in the third quarter worth about $2,006,000. 71.85% of the stock is owned by hedge funds and other institutional investors.

PS Business Parks Inc (NYSE PSB) opened at $125.09 on Friday. The stock has a market cap of $3,413.74, a P/E ratio of 41.70, a P/E/G ratio of 4.15 and a beta of 0.56. PS Business Parks Inc has a fifty-two week low of $108.97 and a fifty-two week high of $137.60.

PS Business Parks (NYSE:PSB) last issued its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.87. The business had revenue of $100.48 million during the quarter, compared to analyst estimates of $99.55 million. PS Business Parks had a net margin of 39.78% and a return on equity of 16.95%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business earned $1.43 EPS. equities analysts expect that PS Business Parks Inc will post 6.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were issued a $0.85 dividend. The ex-dividend date was Tuesday, December 12th. This represents a $3.40 dividend on an annualized basis and a yield of 2.72%. PS Business Parks’s dividend payout ratio (DPR) is presently 113.33%.

In other PS Business Parks news, Director Joseph D. Russell, Jr. sold 800 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $128.52, for a total transaction of $102,816.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald L. Havner, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $136.61, for a total transaction of $546,440.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,370 shares of company stock valued at $1,257,849. 1.63% of the stock is owned by company insiders.

PSB has been the subject of a number of research reports. Zacks Investment Research raised shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a report on Monday, October 16th. JPMorgan Chase & Co. lowered shares of PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 price objective for the company. in a report on Friday, December 15th.

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

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