PS Business Parks, Inc. (NYSE:PSB) Short Interest Update

PS Business Parks, Inc. (NYSE:PSBGet Rating) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 684,500 shares, a growth of 128.2% from the April 30th total of 299,900 shares. Based on an average trading volume of 290,800 shares, the days-to-cover ratio is presently 2.4 days. Approximately 3.4% of the shares of the company are sold short.

Several institutional investors and hedge funds have recently bought and sold shares of PSB. Morgan Stanley boosted its stake in shares of PS Business Parks by 284.6% in the 2nd quarter. Morgan Stanley now owns 64,784 shares of the real estate investment trust’s stock valued at $9,593,000 after purchasing an additional 47,941 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in PS Business Parks by 20.8% in the 3rd quarter. Advisor Group Holdings Inc. now owns 708 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 122 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in PS Business Parks by 23.0% in the 3rd quarter. Teacher Retirement System of Texas now owns 3,327 shares of the real estate investment trust’s stock valued at $521,000 after buying an additional 623 shares during the last quarter. Aviva PLC bought a new position in PS Business Parks in the 3rd quarter valued at approximately $1,673,000. Finally, Wolverine Trading LLC bought a new position in PS Business Parks in the 3rd quarter valued at approximately $239,000. Institutional investors own 71.04% of the company’s stock.

Several research firms have issued reports on PSB. Zacks Investment Research lowered shares of PS Business Parks from a “hold” rating to a “sell” rating and set a $177.00 price target on the stock. in a research report on Tuesday, April 12th. Wells Fargo & Company dropped their price objective on shares of PS Business Parks from $190.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 15th. Finally, StockNews.com lowered shares of PS Business Parks from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 25th.

Shares of PS Business Parks stock opened at $187.15 on Friday. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 11.84 and a beta of 0.46. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.02. PS Business Parks has a 12-month low of $147.02 and a 12-month high of $189.83. The firm’s 50-day moving average price is $175.99 and its two-hundred day moving average price is $172.59.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.24%. PS Business Parks’s payout ratio is currently 26.58%.

About PS Business Parks (Get Rating)

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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