Cbre Clarion Securities LLC Trims Stock Position in PS Business Parks, Inc. (NYSE:PSB)

Cbre Clarion Securities LLC lessened its stake in shares of PS Business Parks, Inc. (NYSE:PSB) by 11.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,934 shares of the real estate investment trust’s stock after selling 7,333 shares during the quarter. Cbre Clarion Securities LLC owned about 0.21% of PS Business Parks worth $8,955,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp lifted its position in shares of PS Business Parks by 33.3% during the 4th quarter. Van ECK Associates Corp now owns 808 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 202 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in shares of PS Business Parks during the 1st quarter worth approximately $207,000. Assetmark Inc. lifted its position in shares of PS Business Parks by 7.4% during the 4th quarter. Assetmark Inc. now owns 1,342 shares of the real estate investment trust’s stock worth $178,000 after buying an additional 93 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of PS Business Parks during the 1st quarter worth approximately $244,000. Finally, Truist Financial Corp purchased a new stake in shares of PS Business Parks during the 4th quarter worth approximately $213,000. Institutional investors and hedge funds own 70.19% of the company’s stock.

PSB stock traded down $0.69 on Friday, hitting $160.30. The company’s stock had a trading volume of 845 shares, compared to its average volume of 89,559. The firm’s 50 day simple moving average is $158.32. PS Business Parks, Inc. has a 1 year low of $109.26 and a 1 year high of $165.85. The stock has a market capitalization of $4.41 billion, a PE ratio of 39.95 and a beta of 0.47.

PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Monday, April 26th. The real estate investment trust reported $1.01 EPS for the quarter, beating the consensus estimate of $0.80 by $0.21. PS Business Parks had a net margin of 38.26% and a return on equity of 15.51%. Sell-side analysts forecast that PS Business Parks, Inc. will post 6.87 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Tuesday, June 15th will be paid a $1.05 dividend. The ex-dividend date is Monday, June 14th. This represents a $4.20 annualized dividend and a yield of 2.62%. PS Business Parks’s dividend payout ratio is currently 63.93%.

In other PS Business Parks news, Director Joseph D. Russell, Jr. sold 3,500 shares of the business’s stock in a transaction on Tuesday, May 25th. The shares were sold at an average price of $155.63, for a total value of $544,705.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph D. Russell, Jr. sold 5,500 shares of the business’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $157.34, for a total transaction of $865,370.00. Insiders sold a total of 21,197 shares of company stock worth $3,324,131 over the last three months. 1.75% of the stock is currently owned by corporate insiders.

Several analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of PS Business Parks from $145.00 to $155.00 and gave the stock an “underweight” rating in a research report on Monday. KeyCorp upgraded shares of PS Business Parks from an “underweight” rating to a “sector weight” rating in a research report on Thursday, April 15th.

PS Business Parks Company Profile

PS Business Parks, Inc, a member of the S&P MidCap 400, is a REIT that acquires, develops, owns, and operates commercial properties, primarily multi-tenant industrial, flex, and office space. As of September 30, 2020, the Company wholly owned 27.5 million rentable square feet with approximately 5,000 commercial customers in six states.

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

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