1,813 Shares in PS Business Parks Inc (PSB) Acquired by Magnus Financial Group LLC

Magnus Financial Group LLC acquired a new stake in shares of PS Business Parks Inc (NYSE:PSB) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 1,813 shares of the real estate investment trust’s stock, valued at approximately $238,000.

A number of other institutional investors have also recently made changes to their positions in PSB. Man Group plc raised its position in shares of PS Business Parks by 118.1% in the 3rd quarter. Man Group plc now owns 252,006 shares of the real estate investment trust’s stock worth $32,027,000 after purchasing an additional 136,462 shares during the last quarter. Stifel Financial Corp purchased a new position in PS Business Parks in the 4th quarter worth about $9,460,000. American Century Companies Inc. raised its position in PS Business Parks by 31.6% in the 3rd quarter. American Century Companies Inc. now owns 285,486 shares of the real estate investment trust’s stock worth $36,282,000 after buying an additional 68,506 shares during the last quarter. Vanguard Group Inc raised its position in PS Business Parks by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 3,132,045 shares of the real estate investment trust’s stock worth $398,051,000 after buying an additional 51,851 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in PS Business Parks by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,132,045 shares of the real estate investment trust’s stock worth $398,051,000 after buying an additional 51,851 shares during the last quarter. 71.77% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research lowered PS Business Parks from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. PS Business Parks currently has an average rating of “Hold” and an average target price of $124.75.



In related news, insider John W. Petersen sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $151.79, for a total transaction of $455,370.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

PS Business Parks stock opened at $155.60 on Friday. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 4.69 and a beta of 0.52. PS Business Parks Inc has a 52-week low of $109.00 and a 52-week high of $156.71.

PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.63 by ($0.48). The firm had revenue of $104.13 million for the quarter, compared to the consensus estimate of $103.56 million. PS Business Parks had a net margin of 54.82% and a return on equity of 22.54%. On average, equities research analysts anticipate that PS Business Parks Inc will post 6.58 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, March 13th will be paid a dividend of $1.05 per share. The ex-dividend date is Tuesday, March 12th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.70%. PS Business Parks’s dividend payout ratio (DPR) is presently 64.91%.

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PS Business Parks Company Profile

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 September 30, 2018, the Company wholly owned 28.3 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.

Further Reading: Average Daily Trade Volume Explained

Want to see what other hedge funds are holding PSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PS Business Parks Inc (NYSE:PSB).

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

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