Bessemer Group Inc. Has $1.89 Million Holdings in PS Business Parks Inc (PSB)

Bessemer Group Inc. lowered its position in shares of PS Business Parks Inc (NYSE:PSB) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,100 shares of the real estate investment trust’s stock after selling 5,700 shares during the quarter. Bessemer Group Inc.’s holdings in PS Business Parks were worth $1,889,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp raised its position in PS Business Parks by 3.2% during the 2nd quarter. State Street Corp now owns 802,768 shares of the real estate investment trust’s stock worth $106,276,000 after buying an additional 25,046 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of PS Business Parks by 6.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 366,710 shares of the real estate investment trust’s stock worth $48,956,000 after purchasing an additional 22,900 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of PS Business Parks by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 310,123 shares of the real estate investment trust’s stock worth $41,401,000 after purchasing an additional 9,725 shares during the period. JPMorgan Chase & Co. grew its stake in shares of PS Business Parks by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 273,750 shares of the real estate investment trust’s stock worth $36,518,000 after purchasing an additional 2,991 shares during the period. Finally, Rothschild Asset Management Inc. grew its stake in shares of PS Business Parks by 3.0% during the 3rd quarter. Rothschild Asset Management Inc. now owns 248,096 shares of the real estate investment trust’s stock worth $33,121,000 after purchasing an additional 7,219 shares during the period. Institutional investors own 71.80% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. JPMorgan Chase & Co. cut shares of PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 price target on the stock. in a research note on Friday, December 15th.

In other news, Director Ronald L. Havner, Jr. sold 4,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $136.61, for a total transaction of $546,440.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph D. Russell, Jr. sold 800 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $128.52, for a total transaction of $102,816.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,370 shares of company stock worth $1,257,849. Corporate insiders own 1.63% of the company’s stock.

PS Business Parks Inc (NYSE PSB) opened at $113.37 on Tuesday. PS Business Parks Inc has a 12 month low of $108.97 and a 12 month high of $137.60. The firm has a market cap of $3,254.59, a price-to-earnings ratio of 37.79, a PEG ratio of 3.72 and a beta of 0.44.

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

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