Pacer Advisors Inc. Increases Holdings in PS Business Parks Inc (NYSE:PSB)

Pacer Advisors Inc. lifted its holdings in PS Business Parks Inc (NYSE:PSB) by 794.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,342 shares of the real estate investment trust’s stock after acquiring an additional 10,074 shares during the period. Pacer Advisors Inc.’s holdings in PS Business Parks were worth $1,911,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PSB. Geode Capital Management LLC raised its stake in PS Business Parks by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 276,231 shares of the real estate investment trust’s stock valued at $36,186,000 after purchasing an additional 22,877 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of PS Business Parks by 208.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 18,839 shares of the real estate investment trust’s stock valued at $2,954,000 after acquiring an additional 12,733 shares during the last quarter. Comerica Bank lifted its holdings in shares of PS Business Parks by 2.1% in the 1st quarter. Comerica Bank now owns 19,846 shares of the real estate investment trust’s stock valued at $2,984,000 after acquiring an additional 401 shares during the last quarter. Texas Permanent School Fund grew its position in PS Business Parks by 3.8% in the first quarter. Texas Permanent School Fund now owns 13,562 shares of the real estate investment trust’s stock worth $2,127,000 after acquiring an additional 498 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in PS Business Parks in the first quarter worth about $336,000. Hedge funds and other institutional investors own 70.64% of the company’s stock.

Shares of NYSE PSB traded down $2.31 during trading hours on Wednesday, hitting $171.69. 63,276 shares of the company traded hands, compared to its average volume of 97,900. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 26.54, a price-to-earnings-growth ratio of 5.29 and a beta of 0.46. The company’s 50 day moving average price is $176.88 and its 200 day moving average price is $164.19. PS Business Parks Inc has a 12 month low of $120.21 and a 12 month high of $186.14.

PS Business Parks (NYSE:PSB) last issued its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.64). The company had revenue of $107.78 million during the quarter, compared to the consensus estimate of $105.10 million. PS Business Parks had a return on equity of 14.84% and a net margin of 35.70%. Sell-side analysts forecast that PS Business Parks Inc will post 6.83 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.45%. PS Business Parks’s dividend payout ratio is presently 64.91%.

In related news, Director Joseph D. Russell, Jr. sold 1,800 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $180.68, for a total transaction of $325,224.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

Separately, Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Friday, August 16th.

About PS Business Parks

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

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