Insider Selling: PS Business Parks, Inc. (NYSE:PSB) Director Sells 6,068 Shares of Stock

PS Business Parks, Inc. (NYSE:PSB) Director Jennifer Holden Dunbar sold 6,068 shares of the company’s stock in a transaction on Monday, December 6th. The stock was sold at an average price of $178.91, for a total transaction of $1,085,625.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

PSB stock traded up $1.07 during mid-day trading on Tuesday, hitting $179.51. 77,558 shares of the company were exchanged, compared to its average volume of 88,919. The firm has a market cap of $4.95 billion, a P/E ratio of 32.27 and a beta of 0.51. The firm’s 50 day simple moving average is $173.57 and its 200 day simple moving average is $161.22. PS Business Parks, Inc. has a 1-year low of $127.50 and a 1-year high of $181.89.

PS Business Parks (NYSE:PSB) last posted its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.04). PS Business Parks had a net margin of 46.61% and a return on equity of 19.24%. During the same quarter last year, the company earned $1.61 earnings per share. On average, equities research analysts forecast that PS Business Parks, Inc. will post 6.88 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 30th. Stockholders of record on Wednesday, December 15th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, December 14th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.34%. PS Business Parks’s dividend payout ratio (DPR) is presently 75.95%.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. JJJ Advisors Inc. grew its stake in shares of PS Business Parks by 80.2% in the third quarter. JJJ Advisors Inc. now owns 200 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 89 shares in the last quarter. Dark Forest Capital Management LP grew its stake in shares of PS Business Parks by 314.5% in the third quarter. Dark Forest Capital Management LP now owns 228 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 173 shares in the last quarter. FinTrust Capital Advisors LLC grew its stake in shares of PS Business Parks by 228.6% in the second quarter. FinTrust Capital Advisors LLC now owns 345 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 240 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in shares of PS Business Parks by 78.7% in the second quarter. Advisor Group Holdings Inc. now owns 586 shares of the real estate investment trust’s stock valued at $87,000 after buying an additional 258 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of PS Business Parks by 778.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $99,000 after buying an additional 592 shares in the last quarter. Institutional investors own 69.73% of the company’s stock.

PSB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of PS Business Parks from a “neutral” rating to an “overweight” rating and set a $175.00 target price for the company in a research report on Tuesday, September 14th. Wells Fargo & Company increased their target price on shares of PS Business Parks from $163.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, November 19th. Finally, Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $171.00 target price for the company in a research report on Thursday, October 7th.

About PS Business Parks

PS Business Parks, Inc is a real estate investment trust. The firm 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.

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