Shares of PS Business Parks Inc (NYSE:PSB) have been given a consensus broker rating score of 3.67 (Sell) from the three brokers that provide coverage for the company, Zacks Investment Research reports. One equities research 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% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a 1-year consensus price objective of $135.00 for the company and are forecasting that the company will post $1.54 EPS 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 related companies.
Several brokerages have recently commented on PSB. Zacks Investment Research downgraded shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. 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 note on Friday, December 15th.
In related news, Director Robert S. Rollo sold 2,070 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $135.19, for a total transaction of $279,843.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronald L. Havner, Jr. sold 4,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $136.61, for a total transaction of $546,440.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,370 shares of company stock valued at $1,257,849. Insiders own 1.63% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Flinton Capital Management LLC increased its position in shares of PS Business Parks by 85.7% during the second quarter. Flinton Capital Management LLC now owns 1,040 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 480 shares during the period. CIBC Asset Management Inc purchased a new position in shares of PS Business Parks during the third quarter valued at about $206,000. Riverhead Capital Management LLC increased its position in shares of PS Business Parks by 81.3% during the second quarter. Riverhead Capital Management LLC now owns 1,632 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 732 shares during the period. Coldstream Capital Management Inc. purchased a new position in shares of PS Business Parks during the second quarter valued at about $237,000. Finally, Shelton Capital Management purchased a new position in shares of PS Business Parks during the second quarter valued at about $257,000. Institutional investors own 71.85% of the company’s stock.
PS Business Parks (NYSE:PSB) traded up $1.25 during trading on Friday, reaching $119.25. 110,798 shares of the company’s stock traded hands, compared to its average volume of 71,385. The company has a market capitalization of $3,249.68, a P/E ratio of 39.75, a PEG ratio of 3.71 and a beta of 0.56. PS Business Parks has a 1-year low of $108.97 and a 1-year high of $137.60.
PS Business Parks (NYSE:PSB) last issued its quarterly earnings data 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 firm had revenue of $100.48 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 earnings per share. equities research analysts forecast that PS Business Parks will post 6.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend 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%.
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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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