Pacer Advisors Inc. Buys 5,442 Shares of PS Business Parks Inc (NYSE:PSB)

Pacer Advisors Inc. increased its stake in PS Business Parks Inc (NYSE:PSB) by 36.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,186 shares of the real estate investment trust’s stock after purchasing an additional 5,442 shares during the period. Pacer Advisors Inc. owned approximately 0.07% of PS Business Parks worth $2,673,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of PSB. Van ECK Associates Corp increased its position in shares of PS Business Parks by 109.4% in the first quarter. Van ECK Associates Corp now owns 245 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 128 shares during the period. Advisor Group Holdings Inc. bought a new position in shares of PS Business Parks in the first quarter worth $54,000. Tower Research Capital LLC TRC increased its position in shares of PS Business Parks by 2,022.7% in the first quarter. Tower Research Capital LLC TRC now owns 467 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 445 shares during the period. Bellecapital International Ltd. bought a new position in shares of PS Business Parks in the first quarter worth $227,000. Finally, Capital Investment Advisors LLC bought a new position in shares of PS Business Parks in the second quarter worth $234,000. Institutional investors own 71.64% of the company’s stock.

NYSE:PSB opened at $137.95 on Friday. The stock’s 50-day simple moving average is $132.43 and its 200 day simple moving average is $140.20. The firm has a market capitalization of $3.79 billion, a PE ratio of 20.20 and a beta of 0.44. PS Business Parks Inc has a twelve month low of $102.48 and a twelve month high of $192.13.

PS Business Parks (NYSE:PSB) last announced its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $1.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.58. PS Business Parks had a return on equity of 18.56% and a net margin of 44.22%. The firm had revenue of $106.22 million for the quarter. As a group, sell-side analysts anticipate that PS Business Parks Inc will post 6.7 EPS for the current fiscal year.

Several analysts recently weighed in on PSB shares. Wells Fargo & Co reduced their price objective on PS Business Parks from $175.00 to $150.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 10th. Citigroup reduced their price objective on PS Business Parks from $182.00 to $128.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. PS Business Parks presently has an average rating of “Hold” and an average target price of $151.75.

In other news, Director James H. Kropp sold 1,700 shares of PS Business Parks stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $142.66, for a total transaction of $242,522.00. Following the sale, the director now directly owns 11,970 shares of the company’s stock, valued at $1,707,640.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph D. Russell, Jr. sold 2,300 shares of PS Business Parks stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $135.25, for a total value of $311,075.00. The disclosure for this sale can be found here. Company insiders own 1.44% of the company’s stock.

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

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