PS Business Parks Inc (NYSE:PSB) – Investment analysts at KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for PS Business Parks in a research note issued on Wednesday. KeyCorp analyst C. Mailman anticipates that the real estate investment trust will post earnings of $1.51 per share for the quarter.
Several other brokerages also recently issued reports on PSB. Zacks Investment Research raised shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research report on Monday, October 16th. JPMorgan Chase & Co. downgraded shares of PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 price objective for the company. in a research report on Friday, December 15th.
PS Business Parks (NYSE:PSB) last announced its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.87. The business had revenue of $100.48 million for the quarter, compared to analyst estimates of $99.55 million. PS Business Parks had a net margin of 39.78% and a return on equity of 16.95%. The company’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in PS Business Parks by 0.6% during the second quarter. Vanguard Group Inc. now owns 3,300,402 shares of the real estate investment trust’s stock worth $436,940,000 after acquiring an additional 20,434 shares during the period. State Street Corp grew its holdings in PS Business Parks by 3.2% during the second quarter. State Street Corp now owns 802,768 shares of the real estate investment trust’s stock worth $106,276,000 after acquiring an additional 25,046 shares during the period. Northern Trust Corp grew its holdings in PS Business Parks by 3.7% during the second quarter. Northern Trust Corp now owns 524,636 shares of the real estate investment trust’s stock worth $69,457,000 after acquiring an additional 18,570 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in PS Business Parks by 6.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 366,710 shares of the real estate investment trust’s stock worth $48,956,000 after acquiring an additional 22,900 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in PS Business Parks by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 310,123 shares of the real estate investment trust’s stock worth $41,401,000 after acquiring an additional 9,725 shares during the period. 71.85% of the stock is currently owned by institutional investors.
In other PS Business Parks news, Director Robert S. Rollo sold 2,070 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $135.19, for a total value of $279,843.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ronald L. Havner, Jr. sold 4,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $136.61, for a total value of $546,440.00. The disclosure for this sale can be found here. Insiders have sold 9,370 shares of company stock worth $1,257,849 over the last 90 days. 1.63% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, December 12th. PS Business Parks’s dividend payout ratio (DPR) is presently 113.33%.
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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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