Bailard Inc. purchased a new stake in shares of PS Business Parks Inc (NYSE:PSB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,700 shares of the real estate investment trust’s stock, valued at approximately $309,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in PSB. Point72 Asset Management L.P. acquired a new position in shares of PS Business Parks during the second quarter valued at $34,000. Quantamental Technologies LLC acquired a new position in shares of PS Business Parks during the second quarter valued at $50,000. Point72 Hong Kong Ltd acquired a new position in shares of PS Business Parks during the second quarter valued at $71,000. Robecosam AG boosted its holdings in shares of PS Business Parks by 7.3% during the third quarter. Robecosam AG now owns 805 shares of the real estate investment trust’s stock valued at $147,000 after acquiring an additional 55 shares during the period. Finally, LS Investment Advisors LLC boosted its holdings in shares of PS Business Parks by 63.6% during the second quarter. LS Investment Advisors LLC now owns 972 shares of the real estate investment trust’s stock valued at $164,000 after acquiring an additional 378 shares during the period. 70.64% of the stock is owned by institutional investors.
In related news, Director Joseph D. Russell, Jr. sold 1,800 shares of PS Business Parks stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $180.68, for a total transaction of $325,224.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is owned by insiders.
PS Business Parks (NYSE:PSB) last issued its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.64). PS Business Parks had a net margin of 35.70% and a return on equity of 14.84%. The company had revenue of $107.78 million for the quarter, compared to the consensus estimate of $105.10 million. Analysts expect that PS Business Parks Inc will post 6.9 EPS for the current year.
PSB has been the topic of a number of recent analyst reports. ValuEngine cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Citigroup upgraded shares of PS Business Parks from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $142.00 to $180.00 in a research note on Monday, September 23rd. Finally, Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Friday, August 16th.
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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