Mitsubishi UFJ Asset Management UK Ltd. Buys New Stake in PS Business Parks, Inc. (PSB)

Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in shares of PS Business Parks, Inc. (NYSE:PSB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,100 shares of the real estate investment trust’s stock, valued at approximately $1,470,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of PS Business Parks by 9.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,228 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 104 shares in the last quarter. Daiwa Securities Group Inc. raised its position in PS Business Parks by 25.0% in the first quarter. Daiwa Securities Group Inc. now owns 1,500 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 300 shares during the period. Ameritas Investment Partners Inc. acquired a new position in PS Business Parks during the first quarter valued at about $195,000. Envestnet Asset Management Inc. raised its position in PS Business Parks by 9.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,730 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 148 shares during the period. Finally, 1st Global Advisors Inc. raised its position in PS Business Parks by 1.1% in the first quarter. 1st Global Advisors Inc. now owns 1,832 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 20 shares during the period. 71.40% of the stock is owned by institutional investors and hedge funds.

PS Business Parks, Inc. (NYSE:PSB) traded down 0.58% during mid-day trading on Friday, hitting $130.96. 77,088 shares of the stock traded hands. The firm has a market cap of $3.56 billion, a P/E ratio of 42.77 and a beta of 0.59. The firm’s 50-day moving average price is $131.30 and its 200-day moving average price is $123.04. PS Business Parks, Inc. has a 52 week low of $102.32 and a 52 week high of $136.27.

PS Business Parks (NYSE:PSB) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.88. PS Business Parks had a return on equity of 16.50% and a net margin of 39.05%. The business had revenue of $99.80 million during the quarter, compared to the consensus estimate of $100.81 million. During the same period in the prior year, the company posted $1.36 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts forecast that PS Business Parks, Inc. will post $3.12 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $3.40 annualized dividend and a yield of 2.60%. PS Business Parks’s payout ratio is 111.11%.

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Several research analysts recently issued reports on PSB shares. Zacks Investment Research lowered shares of PS Business Parks from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. BidaskClub raised shares of PS Business Parks from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 15th.

In other PS Business Parks news, insider John W. Petersen sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $129.83, for a total value of $454,405.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.63% of the company’s stock.

PS Business Parks Company Profile

PS Business Parks, Inc is a self-advised and self-managed real estate investment trust (REIT). The Company owns, operates and develops commercial properties, primarily multi-tenant flex, office and industrial parks. It focuses on owning concentrated business parks. PS Business Parks, L.P. (the Operating Partnership) is a California limited partnership, which owns directly or indirectly substantially all of its assets and through, which the Company conducts substantially all of its business.

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

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