Natixis Acquires Shares of 1,888 PS Business Parks Inc (PSB)

Natixis acquired a new position in shares of PS Business Parks Inc (NYSE:PSB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,888 shares of the real estate investment trust’s stock, valued at approximately $213,000.

Several other large investors also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its holdings in shares of PS Business Parks by 5.7% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 7,950 shares of the real estate investment trust’s stock worth $899,000 after purchasing an additional 430 shares during the period. Meadow Creek Investment Management LLC increased its holdings in shares of PS Business Parks by 32.8% during the 4th quarter. Meadow Creek Investment Management LLC now owns 1,958 shares of the real estate investment trust’s stock worth $245,000 after purchasing an additional 484 shares during the period. Comerica Bank increased its holdings in shares of PS Business Parks by 2.4% during the 1st quarter. Comerica Bank now owns 20,869 shares of the real estate investment trust’s stock worth $2,417,000 after purchasing an additional 496 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of PS Business Parks by 23.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,600 shares of the real estate investment trust’s stock worth $294,000 after purchasing an additional 500 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in shares of PS Business Parks by 0.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 55,600 shares of the real estate investment trust’s stock worth $6,285,000 after purchasing an additional 518 shares during the period. Institutional investors own 70.93% of the company’s stock.

Several research analysts have recently issued reports on PSB shares. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $139.00 price objective on the stock in a report on Tuesday, June 12th. JPMorgan Chase & Co. upgraded shares of PS Business Parks from an “underweight” rating to a “neutral” rating and set a $122.00 price objective on the stock in a report on Friday, June 15th. Finally, Citigroup dropped their price objective on shares of PS Business Parks from $111.00 to $107.00 and set a “sell” rating on the stock in a report on Tuesday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $122.67.

In related news, Director Sara Grootwassink Lewis sold 7,068 shares of the company’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $124.45, for a total value of $879,612.60. Following the sale, the director now owns 4,068 shares of the company’s stock, valued at $506,262.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John W. Petersen sold 3,659 shares of the company’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $117.30, for a total transaction of $429,200.70. The disclosure for this sale can be found here. In the last three months, insiders sold 19,995 shares of company stock worth $2,397,433. 1.50% of the stock is currently owned by insiders.

PS Business Parks opened at $127.00 on Thursday, according to MarketBeat.com. The stock has a market capitalization of $3.46 billion, a P/E ratio of 20.72 and a beta of 0.50. PS Business Parks Inc has a twelve month low of $107.91 and a twelve month high of $137.60.

PS Business Parks (NYSE:PSB) last posted its earnings results on Tuesday, April 24th. The real estate investment trust reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.92. The business had revenue of $103.75 million for the quarter, compared to analysts’ expectations of $101.77 million. PS Business Parks had a net margin of 43.04% and a return on equity of 18.57%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share. equities analysts expect that PS Business Parks Inc will post 6.37 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Wednesday, June 13th will be paid a $0.85 dividend. The ex-dividend date is Tuesday, June 12th. This represents a $3.40 dividend on an annualized basis and a yield of 2.68%. PS Business Parks’s payout ratio is currently 55.46%.

About PS Business Parks

PS Business Parks, Inc, a member of the S&P SmallCap 600, is a real estate investment trust (?REIT?) that acquires, develops, owns and operates commercial properties, primarily multi-tenant flex, office and industrial space. The Company defines ?flex? space as buildings that are configured with a combination of office and warehouse space and can be designed to fit a number of uses (including office, assembly, showroom, laboratory, light manufacturing and warehouse space).

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

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