PS Business Parks Inc (PSB) Stake Boosted by Bowling Portfolio Management LLC

PS Business Parks Inc (PSB) Stake Boosted by Bowling Portfolio Management LLC

Bowling Portfolio Management LLC boosted its position in PS Business Parks Inc (NYSE:PSB) by 29.5% during the first quarter, Holdings Channel reports. The institutional investor owned 4,365 shares of the real estate investment trust’s stock after buying an additional 994 shares during the period. Bowling Portfolio Management LLC’s holdings in PS Business Parks were worth $501,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. DUPONT CAPITAL MANAGEMENT Corp increased its stake in shares of PS Business Parks by 68.8% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 45,014 shares of the real estate investment trust’s stock worth $5,166,000 after buying an additional 18,354 shares in the last quarter. Breton Hill Capital Ltd. increased its stake in shares of PS Business Parks by 297.7% in the first quarter. Breton Hill Capital Ltd. now owns 9,076 shares of the real estate investment trust’s stock worth $1,042,000 after buying an additional 6,794 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of PS Business Parks by 143.8% in the first quarter. ProShare Advisors LLC now owns 8,781 shares of the real estate investment trust’s stock worth $313,000 after buying an additional 5,179 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of PS Business Parks by 6.7% in the first quarter. State of Alaska Department of Revenue now owns 4,440 shares of the real estate investment trust’s stock worth $507,000 after buying an additional 280 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of PS Business Parks by 2.6% in the first quarter. Louisiana State Employees Retirement System now owns 8,000 shares of the real estate investment trust’s stock worth $918,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 72.66% of the company’s stock.

Shares of PS Business Parks Inc (NYSE:PSB) traded up 1.04% during mid-day trading on Friday, hitting $121.99. 53,521 shares of the stock were exchanged. The company has a 50-day moving average of $118.16 and a 200 day moving average of $114.15. The stock has a market cap of $3.32 billion, a PE ratio of 44.52 and a beta of 0.58. PS Business Parks Inc has a one year low of $97.07 and a one year high of $125.81.

PS Business Parks (NYSE:PSB) last announced its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $100.19 million for the quarter, compared to the consensus estimate of $95.85 million. PS Business Parks had a net margin of 32.48% and a return on equity of 13.33%. During the same quarter in the prior year, the firm posted $1.26 earnings per share. On average, equities analysts predict that PS Business Parks Inc will post $3.11 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Wednesday, June 14th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.79%. The ex-dividend date is Monday, June 12th. PS Business Parks’s dividend payout ratio (DPR) is 125.52%.

Separately, Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Friday, April 7th.

In related news, Director Ronald L. Havner, Jr. sold 10,344 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $116.26, for a total transaction of $1,202,593.44. Following the completion of the transaction, the director now owns 10,344 shares of the company’s stock, valued at $1,202,593.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph D. Russell, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $110.61, for a total transaction of $276,525.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

About PS Business Parks

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.

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