14,900 Shares in PS Business Parks, Inc. (NYSE:PSB) Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new position in PS Business Parks, Inc. (NYSE:PSB) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 14,900 shares of the real estate investment trust’s stock, valued at approximately $1,980,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. lifted its holdings in PS Business Parks by 7.4% during the fourth quarter. Assetmark Inc. now owns 1,342 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 93 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in PS Business Parks by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 20,712 shares of the real estate investment trust’s stock valued at $2,535,000 after purchasing an additional 95 shares in the last quarter. Van ECK Associates Corp lifted its holdings in PS Business Parks by 23.4% during the third quarter. Van ECK Associates Corp now owns 606 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 115 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in PS Business Parks by 5.4% during the fourth quarter. Victory Capital Management Inc. now owns 3,408 shares of the real estate investment trust’s stock valued at $453,000 after purchasing an additional 174 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in PS Business Parks by 1.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 15,840 shares of the real estate investment trust’s stock valued at $2,105,000 after purchasing an additional 210 shares in the last quarter. 69.90% of the stock is currently owned by institutional investors.

Shares of NYSE:PSB opened at $158.32 on Thursday. PS Business Parks, Inc. has a 1-year low of $106.79 and a 1-year high of $161.17. The company has a market capitalization of $4.35 billion, a P/E ratio of 34.80 and a beta of 0.47. The firm’s 50 day simple moving average is $151.06 and its two-hundred day simple moving average is $135.66.

PS Business Parks (NYSE:PSB) last released its quarterly earnings data on Sunday, February 21st. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.24. PS Business Parks had a net margin of 45.25% and a return on equity of 18.36%. As a group, research analysts expect that PS Business Parks, Inc. will post 6.54 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Tuesday, March 16th were given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend was Monday, March 15th. PS Business Parks’s payout ratio is currently 61.95%.

In other news, Director Joseph D. Russell, Jr. sold 5,500 shares of PS Business Parks stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $157.34, for a total transaction of $865,370.00. Company insiders own 1.44% of the company’s stock.

PS Business Parks 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.

Further Reading: Dead Cat Bounce

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

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