Rothschild & Co. Asset Management US Inc. Trims Holdings in PS Business Parks Inc (NYSE:PSB)

Rothschild & Co. Asset Management US Inc. trimmed its position in PS Business Parks Inc (NYSE:PSB) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 234,454 shares of the real estate investment trust’s stock after selling 1,404 shares during the quarter. Rothschild & Co. Asset Management US Inc.’s holdings in PS Business Parks were worth $39,513,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PSB. Campbell & CO Investment Adviser LLC purchased a new stake in PS Business Parks in the 2nd quarter worth approximately $205,000. Crossmark Global Holdings Inc. purchased a new stake in PS Business Parks in the 1st quarter worth approximately $336,000. Amalgamated Bank increased its holdings in PS Business Parks by 63.6% in the 4th quarter. Amalgamated Bank now owns 3,033 shares of the real estate investment trust’s stock worth $397,000 after acquiring an additional 1,179 shares in the last quarter. Everence Capital Management Inc. increased its holdings in PS Business Parks by 83.6% in the 1st quarter. Everence Capital Management Inc. now owns 2,920 shares of the real estate investment trust’s stock worth $458,000 after acquiring an additional 1,330 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its holdings in PS Business Parks by 26.9% in the 1st quarter. Pictet Asset Management Ltd. now owns 3,300 shares of the real estate investment trust’s stock worth $518,000 after acquiring an additional 700 shares in the last quarter. 71.30% of the stock is owned by institutional investors.

PS Business Parks stock traded down $6.17 during midday trading on Monday, hitting $166.36. The stock had a trading volume of 5,461 shares, compared to its average volume of 98,971. The stock has a fifty day moving average of $173.51. The stock has a market capitalization of $4.73 billion, a P/E ratio of 26.67, a PEG ratio of 5.05 and a beta of 0.45. PS Business Parks Inc has a 52-week low of $120.21 and a 52-week high of $179.91.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Wednesday, September 11th. PS Business Parks’s dividend payout ratio is 64.91%.

In other news, CAO Trenton Groves sold 2,000 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $160.01, for a total transaction of $320,020.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John W. Petersen sold 600 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $169.04, for a total value of $101,424.00. The disclosure for this sale can be found here. Insiders sold a total of 8,513 shares of company stock valued at $1,372,120 over the last three months. 1.50% of the stock is currently owned by insiders.

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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