Wall Street analysts expect PS Business Parks Inc (NYSE:PSB) to post earnings per share (EPS) of $1.72 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for PS Business Parks’ earnings. The lowest EPS estimate is $1.69 and the highest is $1.75. PS Business Parks reported earnings of $1.64 per share in the same quarter last year, which would indicate a positive year over year growth rate of 4.9%. The firm is expected to report its next earnings report on Tuesday, October 22nd.
On average, analysts expect that PS Business Parks will report full-year earnings of $6.83 per share for the current year, with EPS estimates ranging from $6.72 to $6.92. For the next financial year, analysts anticipate that the business will report earnings of $6.92 per share, with EPS estimates ranging from $6.76 to $7.13. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover PS Business Parks.
PS Business Parks (NYSE:PSB) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.64). The business had revenue of $107.78 million for the quarter, compared to the consensus estimate of $105.10 million. PS Business Parks had a return on equity of 14.84% and a net margin of 35.70%.
Shares of PS Business Parks stock traded up $1.40 on Friday, reaching $177.55. 8,112 shares of the company’s stock were exchanged, compared to its average volume of 103,001. The company has a market capitalization of $4.77 billion, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 5.09 and a beta of 0.46. PS Business Parks has a 52 week low of $120.21 and a 52 week high of $186.14. The firm’s 50-day moving average is $176.82 and its two-hundred day moving average is $164.31.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Wednesday, September 11th. PS Business Parks’s payout ratio is 64.91%.
In other PS Business Parks news, Director Joseph D. Russell, Jr. sold 1,800 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $180.68, for a total transaction of $325,224.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Wolverine Trading LLC bought a new position in shares of PS Business Parks during the 2nd quarter worth $246,000. Phocas Financial Corp. increased its position in PS Business Parks by 67.3% during the second quarter. Phocas Financial Corp. now owns 55,272 shares of the real estate investment trust’s stock valued at $9,315,000 after acquiring an additional 22,236 shares during the last quarter. Royal Bank of Canada increased its position in PS Business Parks by 82.9% during the second quarter. Royal Bank of Canada now owns 4,531 shares of the real estate investment trust’s stock valued at $763,000 after acquiring an additional 2,054 shares during the last quarter. UBS Group AG increased its position in PS Business Parks by 4.4% during the second quarter. UBS Group AG now owns 59,708 shares of the real estate investment trust’s stock valued at $10,063,000 after acquiring an additional 2,536 shares during the last quarter. Finally, Walleye Trading LLC purchased a new stake in PS Business Parks during the second quarter valued at $390,000. 70.64% of the stock is currently owned by institutional investors.
About PS Business Parks
PS Business Parks, Inc, a member of the S&P SmallCap 600, is a REIT that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of December 31, 2018, the Company wholly owned 28.2 million rentable square feet with approximately 5,050 commercial customers in six states and held a 95.0% interest in a 395-unit apartment complex.
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