PS Business Parks Inc (NYSE:PSB) – Investment analysts at KeyCorp lifted their FY2018 earnings estimates for PS Business Parks in a research report issued to clients and investors on Thursday, April 5th. KeyCorp analyst C. Mailman now expects that the real estate investment trust will post earnings per share of $6.34 for the year, up from their prior estimate of $6.25.
PS Business Parks (NYSE:PSB) last released its quarterly 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 return on equity of 17.35% and a net margin of 40.29%. The firm had revenue of $101.84 million for the quarter, compared to analysts’ expectations of $101.56 million. During the same quarter last year, the firm posted $1.39 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year.
Several other research analysts have also recently weighed in on PSB. JPMorgan Chase cut shares of PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 price target on the stock. in a report on Friday, December 15th. Zacks Investment Research upgraded shares of PS Business Parks from a “sell” rating to a “hold” rating in a report on Tuesday, February 27th.
PS Business Parks stock opened at $113.68 on Monday. PS Business Parks has a fifty-two week low of $107.91 and a fifty-two week high of $137.60. The stock has a market cap of $3,098.35, a P/E ratio of 18.54, a PEG ratio of 3.60 and a beta of 0.47.
A number of hedge funds have recently made changes to their positions in PSB. Meadow Creek Investment Management LLC raised its position in PS Business Parks by 32.8% in the fourth quarter. Meadow Creek Investment Management LLC now owns 1,958 shares of the real estate investment trust’s stock worth $245,000 after acquiring an additional 484 shares during the period. Cubist Systematic Strategies LLC bought a new stake in PS Business Parks in the third quarter worth about $264,000. Algert Global LLC bought a new stake in PS Business Parks in the third quarter worth about $372,000. Schroder Investment Management Group raised its position in PS Business Parks by 363.6% in the third quarter. Schroder Investment Management Group now owns 3,162 shares of the real estate investment trust’s stock worth $422,000 after acquiring an additional 2,480 shares during the period. Finally, Xact Kapitalforvaltning AB bought a new stake in PS Business Parks in the fourth quarter worth about $510,000. 71.46% of the stock is currently owned by institutional investors and hedge funds.
In other PS Business Parks news, insider John W. Petersen sold 5,104 shares of PS Business Parks stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $111.67, for a total value of $569,963.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.63% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Wednesday, March 14th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Tuesday, March 13th. PS Business Parks’s dividend payout ratio is 55.46%.
TRADEMARK VIOLATION WARNING: This report was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2018/04/09/fy2018-eps-estimates-for-ps-business-parks-inc-increased-by-keycorp-psb.html.
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.
Receive News & Ratings for PS Business Parks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PS Business Parks and related companies with MarketBeat.com's FREE daily email newsletter.