United Services Automobile Association Purchases 2,158 Shares of PS Business Parks Inc (PSB)

United Services Automobile Association grew its stake in shares of PS Business Parks Inc (NYSE:PSB) by 47.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,748 shares of the real estate investment trust’s stock after purchasing an additional 2,158 shares during the period. United Services Automobile Association’s holdings in PS Business Parks were worth $884,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in shares of PS Business Parks by 0.9% during the 3rd quarter. Wells Fargo & Company MN now owns 105,919 shares of the real estate investment trust’s stock worth $13,461,000 after purchasing an additional 946 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of PS Business Parks by 12.9% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,763 shares of the real estate investment trust’s stock worth $605,000 after purchasing an additional 545 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of PS Business Parks by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 295,150 shares of the real estate investment trust’s stock worth $37,512,000 after purchasing an additional 3,930 shares during the last quarter. Martingale Asset Management L P lifted its position in shares of PS Business Parks by 21.3% during the 3rd quarter. Martingale Asset Management L P now owns 55,722 shares of the real estate investment trust’s stock worth $7,082,000 after purchasing an additional 9,802 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of PS Business Parks by 1.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 39,426 shares of the real estate investment trust’s stock worth $5,013,000 after purchasing an additional 440 shares during the last quarter. 72.63% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider John W. Petersen sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $151.79, for a total value of $455,370.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph D. Russell, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $156.34, for a total value of $390,850.00. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Several equities analysts recently weighed in on PSB shares. Citigroup boosted their price objective on PS Business Parks from $107.00 to $133.00 and gave the stock a “sell” rating in a research report on Friday, March 29th. Zacks Investment Research cut PS Business Parks from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $131.25.

PS Business Parks stock traded up $0.61 during trading hours on Friday, hitting $146.85. The stock had a trading volume of 135,622 shares, compared to its average volume of 335,930. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 4.46 and a beta of 0.53. PS Business Parks Inc has a fifty-two week low of $113.01 and a fifty-two week high of $159.51.

PS Business Parks (NYSE:PSB) last posted its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $1.15 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.48). The firm had revenue of $104.13 million during the quarter, compared to analyst estimates of $103.56 million. PS Business Parks had a net margin of 54.82% and a return on equity of 22.54%. As a group, sell-side analysts expect that PS Business Parks Inc will post 6.59 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were issued a $1.05 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $4.20 annualized dividend and a yield of 2.86%. PS Business Parks’s dividend payout ratio (DPR) is 64.91%.

TRADEMARK VIOLATION WARNING: This article was originally published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://www.baseballdailydigest.com/news/2019/04/21/united-services-automobile-association-buys-2158-shares-of-ps-business-parks-inc-psb.html.

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 September 30, 2018, the Company wholly owned 28.3 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.

Featured Story: What is the Rule of 72?

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

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.