[ad_1]
Strs Ohio reduced its stake in shares of PS Business Parks, Inc. (NYSE:PSB – Get Rating) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,799 shares of the real estate investment trust’s stock after selling 148 shares during the quarter. Strs Ohio owned approximately 0.10% of PS Business Parks worth $4,935,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of PS Business Parks by 8.5% in the third quarter. Wellington Management Group LLP now owns 2,122,511 shares of the real estate investment trust’s stock valued at $332,682,000 after acquiring an additional 166,088 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of PS Business Parks by 10.6% during the third quarter. Principal Financial Group Inc. now owns 1,065,899 shares of the real estate investment trust’s stock valued at $167,069,000 after acquiring an additional 101,835 shares in the last quarter. Morgan Stanley increased its holdings in shares of PS Business Parks by 284.6% during the second quarter. Morgan Stanley now owns 64,784 shares of the real estate investment trust’s stock valued at $9,593,000 after acquiring an additional 47,941 shares in the last quarter. Allianz Asset Management GmbH purchased a new stake in PS Business Parks in the third quarter valued at approximately $4,792,000. Finally, Pacer Advisors Inc. boosted its position in PS Business Parks by 37.8% in the third quarter. Pacer Advisors Inc. now owns 81,814 shares of the real estate investment trust’s stock valued at $12,824,000 after buying an additional 22,424 shares during the last quarter. 70.74% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE PSB traded up $5.31 during midday trading on Friday, hitting $162.66. 108,566 shares of the company’s stock were exchanged, compared to its average volume of 85,102. The company has a market cap of $4.49 billion, a PE ratio of 11.45 and a beta of 0.57. PS Business Parks, Inc. has a twelve month low of $147.02 and a twelve month high of $189.23. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.68 and a quick ratio of 0.68. The firm’s fifty day simple moving average is $161.51 and its 200-day simple moving average is $169.06.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 31st. Stockholders of record on Wednesday, March 16th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Tuesday, March 15th. PS Business Parks’s payout ratio is 29.56%.
A number of research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on PS Business Parks from $190.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 15th. StockNews.com downgraded PS Business Parks from a “strong-buy” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $172.00.
PS Business Parks Profile (Get Rating)
PS Business Parks, Inc is a real estate investment trust. engages in the ownership, operation, acquisition, and development of commercial properties, primarily multi-tenant flex, office, and industrial space. Its commercial real estate properties include warehouse and office space. The company was founded in 1986 and is headquartered in Glendale, CA.
Recommended Stories
Want More Great Investing Ideas?
Receive News & Ratings for PS Business Parks Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for PS Business Parks and related companies with MarketBeat.com’s FREE daily email newsletter.
[ad_2]
Source link