PS Business Parks Inc (NYSE:PSB) has earned an average broker rating score of 3.67 (Sell) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell rating and two have issued a hold rating on the company. PS Business Parks’ rating score has declined by 22.3% in the last three months as a result of various analysts’ ratings changes.
Brokers have set a one year consensus price objective of $135.00 for the company and are anticipating that the company will post $1.54 earnings per share for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 227 out of 265 based on the ratings given to its competitors.
Several research firms have commented on PSB. Zacks Investment Research upgraded PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a report on Monday, October 16th. JPMorgan Chase & Co. cut PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 price target for the company. in a report on Friday, December 15th.
PS Business Parks (NYSE:PSB) last posted its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $1.54 EPS for the quarter, beating the consensus estimate of $0.67 by $0.87. The company had revenue of $100.48 million during the quarter, compared to analysts’ expectations of $99.55 million. PS Business Parks had a return on equity of 16.95% and a net margin of 39.78%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 EPS. equities analysts predict that PS Business Parks will post 6.03 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Tuesday, December 12th. PS Business Parks’s dividend payout ratio (DPR) is 113.33%.
In other news, Director Joseph D. Russell, Jr. sold 800 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $128.52, for a total transaction of $102,816.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald L. Havner, Jr. sold 4,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was 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 sold a total of 9,370 shares of company stock valued at $1,257,849 in the last 90 days. 1.63% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of PS Business Parks by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 3,300,402 shares of the real estate investment trust’s stock worth $436,940,000 after purchasing an additional 20,434 shares during the period. State Street Corp boosted its holdings in PS Business Parks by 3.2% in the 2nd 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 boosted its holdings in PS Business Parks by 3.7% in the 2nd 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. boosted its holdings in PS Business Parks by 6.7% in the 3rd 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 boosted its holdings in PS Business Parks by 3.2% in the 3rd 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. Institutional investors and hedge funds own 71.85% of the company’s stock.
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PS Business Parks Company Profile
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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