PS Business Parks Inc (NYSE:PSB) has been given an average broker rating score of 3.50 (Sell) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell rating and three have issued a hold rating on the company.
Brokerages have set a 12 month consensus price objective of $127.33 for the company and are predicting that the company will post $1.63 earnings per share for the current quarter, according to Zacks. Zacks has also assigned PS Business Parks an industry rank of 147 out of 257 based on the ratings given to related companies.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of PS Business Parks from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. ValuEngine upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th.
In other PS Business Parks news, Director Ronald L. Havner, Jr. sold 15,000 shares of the business’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $137.45, for a total value of $2,061,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John W. Petersen sold 3,000 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $134.92, for a total transaction of $404,760.00. The disclosure for this sale can be found here. Insiders sold 44,420 shares of company stock worth $6,144,605 in the last 90 days. Corporate 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. Northern Trust Corp increased its position in shares of PS Business Parks by 0.3% during the second quarter. Northern Trust Corp now owns 540,091 shares of the real estate investment trust’s stock valued at $69,401,000 after buying an additional 1,830 shares during the period. Rhumbline Advisers increased its position in shares of PS Business Parks by 2.2% during the second quarter. Rhumbline Advisers now owns 72,504 shares of the real estate investment trust’s stock valued at $9,317,000 after buying an additional 1,529 shares during the period. Aperio Group LLC increased its position in shares of PS Business Parks by 4.9% during the second quarter. Aperio Group LLC now owns 9,418 shares of the real estate investment trust’s stock valued at $1,210,000 after buying an additional 440 shares during the period. American Century Companies Inc. increased its position in shares of PS Business Parks by 31.6% during the third quarter. American Century Companies Inc. now owns 285,486 shares of the real estate investment trust’s stock valued at $36,282,000 after buying an additional 68,506 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of PS Business Parks by 9.1% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 20,397 shares of the real estate investment trust’s stock valued at $2,621,000 after buying an additional 1,700 shares during the period. Institutional investors own 71.47% of the company’s stock.
PS Business Parks stock opened at $140.57 on Wednesday. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38. PS Business Parks has a twelve month low of $107.91 and a twelve month high of $143.54.
PS Business Parks (NYSE:PSB) last released its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.56. PS Business Parks had a net margin of 53.92% and a return on equity of 22.57%. The firm had revenue of $103.81 million for the quarter, compared to analysts’ expectations of $100.03 million. On average, equities analysts anticipate that PS Business Parks will post 6.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Wednesday, December 12th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, December 11th. PS Business Parks’s payout ratio is 68.52%.
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 September 30, 2018, the Company wholly owned 28.3 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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