PS Business Parks Inc. (NYSE:PSB) has earned an average broker rating score of 3.00 (Hold) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating.
Zacks has also assigned PS Business Parks an industry rank of 155 out of 265 based on the ratings given to related companies.
A number of equities research analysts have commented on PSB shares. Citigroup Inc. raised their price objective on PS Business Parks from $93.00 to $107.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. Zacks Investment Research upgraded PS Business Parks from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research report on Monday, August 1st.
Shares of PS Business Parks (NYSE:PSB) opened at 110.53 on Monday. PS Business Parks has a 12 month low of $76.69 and a 12 month high of $117.00. The firm has a market cap of $2.99 billion, a P/E ratio of 44.23 and a beta of 0.69. The firm has a 50-day moving average of $110.05 and a 200 day moving average of $103.86.
PS Business Parks (NYSE:PSB) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.30 EPS for the quarter, missing the Zacks’ consensus estimate of $1.32 by $0.02. PS Business Parks had a return on equity of 14.22% and a net margin of 34.54%. The business had revenue of $96.20 million for the quarter, compared to analyst estimates of $95 million. During the same quarter in the previous year, the business posted $1.20 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that PS Business Parks will post $5.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, September 14th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, September 12th. This represents a $3.00 annualized dividend and a dividend yield of 2.71%. PS Business Parks’s dividend payout ratio is 120.00%.
In other news, Director James H. Kropp sold 1,668 shares of PS Business Parks stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $109.60, for a total transaction of $182,812.80. Following the completion of the sale, the director now directly owns 10,502 shares in the company, valued at approximately $1,151,019.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph D. Russell, Jr. sold 2,000 shares of PS Business Parks stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $108.45, for a total value of $216,900.00. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Several large investors have recently made changes to their positions in PSB. Norges Bank purchased a new stake in shares of PS Business Parks during the fourth quarter valued at about $17,147,000. Capstone Asset Management Co. raised its stake in shares of PS Business Parks by 7.6% in the second quarter. Capstone Asset Management Co. now owns 6,960 shares of the company’s stock valued at $738,000 after buying an additional 490 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of PS Business Parks by 10.5% in the first quarter. Prudential Financial Inc. now owns 53,362 shares of the company’s stock valued at $5,364,000 after buying an additional 5,053 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of PS Business Parks by 6.2% in the first quarter. Wellington Management Group LLP now owns 1,045,125 shares of the company’s stock valued at $105,046,000 after buying an additional 60,780 shares in the last quarter. Finally, Quotient Investors LLC purchased a new stake in shares of PS Business Parks during the first quarter valued at about $322,000. Institutional investors and hedge funds own 72.14% of the company’s stock.
About PS Business Parks
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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