Nomura Asset Management Co. Ltd. Sells 1,457 Shares of PS Business Parks Inc (PSB)

Nomura Asset Management Co. Ltd. lowered its position in shares of PS Business Parks Inc (NYSE:PSB) by 11.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,373 shares of the real estate investment trust’s stock after selling 1,457 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in PS Business Parks were worth $1,518,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PSB. FMR LLC acquired a new stake in shares of PS Business Parks during the second quarter worth $21,739,000. Schwab Charles Investment Management Inc. grew its stake in shares of PS Business Parks by 21.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 343,810 shares of the real estate investment trust’s stock worth $45,518,000 after purchasing an additional 60,805 shares during the period. American Century Companies Inc. grew its stake in shares of PS Business Parks by 241.1% during the third quarter. American Century Companies Inc. now owns 82,320 shares of the real estate investment trust’s stock worth $10,990,000 after purchasing an additional 58,187 shares during the period. Nationwide Fund Advisors grew its stake in shares of PS Business Parks by 389.5% during the third quarter. Nationwide Fund Advisors now owns 59,345 shares of the real estate investment trust’s stock worth $7,923,000 after purchasing an additional 47,222 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of PS Business Parks by 89.6% during the third quarter. Wells Fargo & Company MN now owns 91,750 shares of the real estate investment trust’s stock worth $12,248,000 after purchasing an additional 43,370 shares during the period. Institutional investors own 71.97% of the company’s stock.

In other PS Business Parks news, Director Ronald L. Havner, Jr. sold 4,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $136.61, for a total value of $546,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph D. Russell, Jr. sold 2,500 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $131.50, for a total value of $328,750.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,570 shares of company stock valued at $1,155,033. Insiders own 1.63% of the company’s stock.

Shares of PS Business Parks Inc (NYSE:PSB) traded down $0.64 during trading on Friday, hitting $127.60. The company had a trading volume of 169,000 shares, compared to its average volume of 93,422. PS Business Parks Inc has a twelve month low of $108.97 and a twelve month high of $137.60. The firm has a market capitalization of $3,494.67, a PE ratio of 21.37, a PEG ratio of 4.20 and a beta of 0.56.

PS Business Parks (NYSE:PSB) last announced its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.87. PS Business Parks had a return on equity of 16.95% and a net margin of 39.78%. The business had revenue of $100.48 million during the quarter, compared to analysts’ expectations of $99.55 million. During the same period in the previous year, the firm earned $1.43 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. equities analysts predict that PS Business Parks Inc will post 6.11 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be paid a $0.85 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $3.40 dividend on an annualized basis and a yield of 2.66%. PS Business Parks’s payout ratio is 113.33%.

PSB has been the subject of a number of analyst reports. Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research note on Tuesday, September 5th. KeyCorp reaffirmed a “hold” rating on shares of PS Business Parks in a research note on Friday, August 25th. Finally, J P Morgan Chase & Co cut PS Business Parks from a “neutral” rating to an “underweight” rating in a research note on Friday.

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PS Business Parks Company Profile

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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