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.
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
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