PS Business Parks Inc (NYSE:PSB) has earned an average broker rating score of 3.50 (Sell) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell rating and three have given a hold rating to the company.
Analysts have set a twelve-month consensus target price of $155.67 for the company and are anticipating that the company will post $1.68 EPS for the current quarter, according to Zacks. Zacks has also assigned PS Business Parks an industry rank of 107 out of 256 based on the ratings given to related companies.
Separately, Citigroup boosted their target price on shares of PVH from $120.00 to $128.00 and gave the stock a “neutral” rating in a report on Friday, March 29th.
In related news, CAO Trenton Groves sold 2,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $160.01, for a total transaction of $320,020.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO John W. Petersen sold 600 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $169.04, for a total transaction of $101,424.00. The disclosure for this sale can be found here. Insiders sold 8,513 shares of company stock worth $1,372,120 in the last three months. Insiders own 1.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in PSB. Oregon Public Employees Retirement Fund grew its holdings in PS Business Parks by 4.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 8,114 shares of the real estate investment trust’s stock worth $1,367,000 after acquiring an additional 382 shares in the last quarter. 6 Meridian grew its holdings in PS Business Parks by 1.9% during the 2nd quarter. 6 Meridian now owns 3,470 shares of the real estate investment trust’s stock worth $585,000 after acquiring an additional 65 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in PS Business Parks by 16.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,326 shares of the real estate investment trust’s stock worth $1,235,000 after acquiring an additional 1,061 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in PS Business Parks during the 2nd quarter worth about $205,000. Finally, Retirement Systems of Alabama bought a new position in PS Business Parks during the 2nd quarter worth about $4,387,000. 71.47% of the stock is currently owned by institutional investors.
Shares of PSB traded down $0.01 during mid-day trading on Wednesday, reaching $174.13. The stock had a trading volume of 100,252 shares, compared to its average volume of 137,130. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 5.15 and a beta of 0.45. PS Business Parks has a 12 month low of $120.21 and a 12 month high of $178.60. The business’s fifty day moving average price is $170.07.
PS Business Parks (NYSE:PSB) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.96 EPS for the quarter, topping the consensus estimate of $0.67 by $0.29. PS Business Parks had a net margin of 46.31% and a return on equity of 18.97%. The firm had revenue of $107.83 million for the quarter, compared to the consensus estimate of $103.07 million. As a group, equities analysts anticipate that PS Business Parks will post 6.71 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Tuesday, June 11th. PS Business Parks’s dividend payout ratio (DPR) is presently 64.91%.
PS Business Parks Company Profile
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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