Is PS Business Parks Inc. (PSB) A Smart Long-Term Buy?
Heartland Advisors, an investment management firm, published its “Heartland Mid Cap Value Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. A return of 15.81% was delivered by the fund’s institutional class shares for the Q1 of 2021, outperforming its Russell Midcap® Value benchmark that delivered a 13.05% return for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Heartland Mid Cap Value Fund, in its Q1 2021 investor letter, mentioned PS Business Parks, Inc. (NYSE: PSB), and shared their insights on the company. PS Business Parks, Inc. is a Glendale, California-based real estate investment trust company that currently has a $4.2 billion market capitalization. Since the beginning of the year, PSB delivered a 16.26% return, extending its 12-month gains to 38.16%. As of May 13, 2021, the stock closed at $154.48 per share.