Dupont Capital Management Corp lowered its holdings in PS Business Parks Inc (NYSE:PSB) by 73.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,314 shares of the real estate investment trust’s stock after selling 11,778 shares during the quarter. Dupont Capital Management Corp’s holdings in PS Business Parks were worth $571,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of PS Business Parks by 109.4% during the 1st 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 in the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of PS Business Parks during the 1st quarter worth approximately $54,000. Tower Research Capital LLC TRC grew its holdings in shares of PS Business Parks by 2,022.7% during the 1st 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 in the last quarter. Bellecapital International Ltd. acquired a new stake in shares of PS Business Parks during the 1st quarter worth approximately $227,000. Finally, Capital Investment Advisors LLC acquired a new stake in shares of PS Business Parks during the 2nd quarter worth approximately $234,000. 71.64% of the stock is currently owned by hedge funds and other institutional investors.
PSB has been the topic of several recent analyst reports. Citigroup decreased their price target 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. Wells Fargo & Co decreased their price target 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. PS Business Parks has an average rating of “Hold” and a consensus price target of $151.75.
In other news, Director Kristy Pipes bought 720 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was bought at an average price of $138.45 per share, for a total transaction of $99,684.00. Following the completion of the transaction, the director now directly owns 720 shares in the company, valued at approximately $99,684. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James H. Kropp sold 1,700 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $142.66, for a total value of $242,522.00. Following the sale, the director now owns 11,970 shares of the company’s stock, valued at approximately $1,707,640.20. The disclosure for this sale can be found here. Insiders own 1.44% of the company’s stock.
Shares of PSB opened at $137.95 on Friday. The stock has a fifty day moving average price of $132.43 and a two-hundred day moving average price of $140.20. PS Business Parks Inc has a 52-week low of $102.48 and a 52-week high of $192.13. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 30.59 and a beta of 0.44.
PS Business Parks (NYSE:PSB) last issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 during the quarter. On average, sell-side analysts forecast that PS Business Parks Inc will post 6.7 EPS for the current fiscal year.
PS Business Parks 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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