Brokerages Expect PS Business Parks Inc (PSB) Will Post Earnings of $1.55 Per Share

Equities analysts expect PS Business Parks Inc (NYSE:PSB) to report $1.55 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for PS Business Parks’ earnings. The highest EPS estimate is $1.58 and the lowest is $1.51. PS Business Parks reported earnings per share of $1.52 during the same quarter last year, which indicates a positive year-over-year growth rate of 2%. The business is scheduled to report its next quarterly earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that PS Business Parks will report full-year earnings of $6.39 per share for the current financial year, with EPS estimates ranging from $6.20 to $6.53. For the next fiscal year, analysts forecast that the business will report earnings of $6.53 per share, with EPS estimates ranging from $6.28 to $6.78. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover PS Business Parks.

PS Business Parks (NYSE:PSB) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). PS Business Parks had a net margin of 40.29% and a return on equity of 17.33%. The business had revenue of $101.84 million for the quarter, compared to the consensus estimate of $101.56 million. During the same period in the previous year, the firm earned $1.39 EPS. The firm’s revenue was up 4.3% on a year-over-year basis.

A number of research firms have recently commented on PSB. JPMorgan Chase & Co. dropped their price objective on PS Business Parks from $135.00 to $123.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 14th. Zacks Investment Research downgraded PS Business Parks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st.

PS Business Parks (NYSE PSB) traded up $0.67 on Thursday, hitting $111.04. The stock had a trading volume of 27,289 shares, compared to its average volume of 94,207. PS Business Parks has a 12 month low of $107.91 and a 12 month high of $137.60. The company has a market cap of $3,024.59, a P/E ratio of 33.68, a PEG ratio of 3.47 and a beta of 0.44.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, March 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Tuesday, March 13th. PS Business Parks’s dividend payout ratio is presently 103.03%.

In other news, Director Joseph D. Russell, Jr. sold 2,500 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $131.50, for a total value of $328,750.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.63% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of PS Business Parks by 4.1% during the fourth quarter. BlackRock Inc. now owns 3,468,381 shares of the real estate investment trust’s stock valued at $433,859,000 after buying an additional 137,466 shares in the last quarter. State Street Corp raised its stake in PS Business Parks by 3.2% during the 2nd quarter. State Street Corp now owns 802,768 shares of the real estate investment trust’s stock valued at $106,276,000 after acquiring an additional 25,046 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in PS Business Parks by 6.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 366,710 shares of the real estate investment trust’s stock valued at $48,956,000 after acquiring an additional 22,900 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in PS Business Parks by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 310,123 shares of the real estate investment trust’s stock valued at $41,401,000 after acquiring an additional 9,725 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in PS Business Parks by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 273,750 shares of the real estate investment trust’s stock valued at $36,518,000 after acquiring an additional 2,991 shares in the last quarter. Institutional investors and hedge funds own 70.06% 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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