American International Group Inc. Sells 10 Shares of PS Business Parks, Inc. (PSB)

American International Group Inc. Sells 10 Shares of PS Business Parks, Inc. (PSB)

American International Group Inc. reduced its stake in PS Business Parks, Inc. (NYSE:PSB) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,626 shares of the company’s stock after selling 10 shares during the period. American International Group Inc. owned 0.05% of PS Business Parks worth $1,661,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Shell Asset Management Co. acquired a new position in PS Business Parks during the second quarter valued at $860,000. Bank of Montreal Can purchased a new position in shares of PS Business Parks during the second quarter valued at approximately $2,771,000. American Century Companies Inc. boosted its position in shares of PS Business Parks by 50.5% in the second quarter. American Century Companies Inc. now owns 106,681 shares of the company’s stock valued at $11,317,000 after buying an additional 35,796 shares in the last quarter. Rothschild Asset Management Inc. boosted its position in shares of PS Business Parks by 8.1% in the second quarter. Rothschild Asset Management Inc. now owns 284,124 shares of the company’s stock valued at $30,140,000 after buying an additional 21,227 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of PS Business Parks by 82.8% in the second quarter. Advisors Asset Management Inc. now owns 2,995 shares of the company’s stock valued at $318,000 after buying an additional 1,357 shares in the last quarter. Hedge funds and other institutional investors own 72.33% of the company’s stock.

Shares of PS Business Parks, Inc. (NYSE:PSB) traded down 2.94% during midday trading on Friday, reaching $113.87. 118,780 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $116.13 and its 200 day moving average price is $111.24. PS Business Parks, Inc. has a one year low of $85.78 and a one year high of $121.81. The firm has a market capitalization of $3.09 billion, a PE ratio of 47.64 and a beta of 0.65.

PSB has been the subject of several recent analyst reports. Zacks Investment Research cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. Citigroup Inc. cut shares of PS Business Parks from a “neutral” rating to a “sell” rating and set a $107.00 price objective for the company. in a research note on Tuesday, December 13th.

In other news, CFO Edward A. Stokx sold 6,000 shares of the stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $108.63, for a total value of $651,780.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO John W. Petersen sold 300 shares of the stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $112.00, for a total transaction of $33,600.00. The disclosure for this sale can be found here. Insiders sold a total of 18,255 shares of company stock worth $2,008,782 in the last quarter. Company 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.

Want to see what other hedge funds are holding PSB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PS Business Parks, Inc. (NYSE:PSB).

Related posts

Leave a Comment