Insider Selling: PS Business Parks Inc (PSB) COO Sells 1,666 Shares of Stock

PS Business Parks Inc (NYSE:PSB) COO John W. Petersen sold 1,666 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $156.78, for a total value of $261,195.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

John W. Petersen also recently made the following trade(s):

  • On Wednesday, March 6th, John W. Petersen sold 3,000 shares of PS Business Parks stock. The shares were sold at an average price of $151.79, for a total value of $455,370.00.

NYSE PSB traded up $1.53 during mid-day trading on Thursday, hitting $158.85. The stock had a trading volume of 5,244 shares, compared to its average volume of 145,755. PS Business Parks Inc has a twelve month low of $115.72 and a twelve month high of $159.51. The company has a market cap of $4.27 billion, a P/E ratio of 24.57, a P/E/G ratio of 4.73 and a beta of 0.51.



PS Business Parks (NYSE:PSB) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.29. PS Business Parks had a return on equity of 18.97% and a net margin of 46.31%. The firm had revenue of $107.83 million during the quarter, compared to the consensus estimate of $103.07 million. On average, research analysts predict that PS Business Parks Inc will post 6.59 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 2.64%. The ex-dividend date is Tuesday, June 11th. PS Business Parks’s payout ratio is currently 64.91%.

A number of large investors have recently modified their holdings of PSB. Zebra Capital Management LLC lifted its stake in PS Business Parks by 23.3% during the 1st quarter. Zebra Capital Management LLC now owns 5,190 shares of the real estate investment trust’s stock worth $814,000 after acquiring an additional 980 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its stake in PS Business Parks by 196.5% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 22,508 shares of the real estate investment trust’s stock worth $635,000 after acquiring an additional 14,916 shares in the last quarter. SEI Investments Co lifted its stake in PS Business Parks by 7.0% during the 1st quarter. SEI Investments Co now owns 39,768 shares of the real estate investment trust’s stock worth $6,237,000 after acquiring an additional 2,587 shares in the last quarter. Oxford Asset Management LLP lifted its stake in PS Business Parks by 68.7% during the 1st quarter. Oxford Asset Management LLP now owns 22,030 shares of the real estate investment trust’s stock worth $3,455,000 after acquiring an additional 8,970 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in PS Business Parks by 28.6% during the 1st quarter. Hsbc Holdings PLC now owns 4,972 shares of the real estate investment trust’s stock worth $780,000 after acquiring an additional 1,106 shares in the last quarter. Institutional investors own 72.39% of the company’s stock.

Several research analysts recently commented on the company. Citigroup increased their price objective on PS Business Parks from $107.00 to $133.00 and gave the company a “sell” rating in a research note on Friday, March 29th. Zacks Investment Research downgraded PS Business Parks from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $131.25.

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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 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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Insider Buying and Selling by Quarter for PS Business Parks (NYSE:PSB)

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