PS Business Parks Inc (NYSE:PSB) has been given an average broker rating score of 3.67 (Sell) from the three analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell rating and two have given a hold rating to the company.
Analysts have set a 1 year consensus price target of $120.50 for the company and are predicting that the company will post $1.50 EPS for the current quarter, according to Zacks. Zacks has also assigned PS Business Parks an industry rank of 207 out of 265 based on the ratings given to related companies.
A number of equities research analysts have recently commented on PSB shares. JPMorgan Chase cut shares of PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 target price for the company. in a research report on Friday, December 15th. Zacks Investment Research upgraded shares of PS Business Parks from a “sell” rating to a “hold” rating in a research report on Tuesday, February 27th.
In other news, insider John W. Petersen sold 5,104 shares of the 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.63% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in PSB. Meadow Creek Investment Management LLC grew its holdings in shares of 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 valued at $245,000 after purchasing an additional 484 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of PS Business Parks in the third quarter valued at about $264,000. Algert Global LLC purchased a new stake in shares of PS Business Parks in the third quarter valued at about $372,000. Schroder Investment Management Group grew its holdings in shares of 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 valued at $422,000 after purchasing an additional 2,480 shares during the period. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of PS Business Parks in the fourth quarter valued at about $510,000. 71.46% of the stock is owned by hedge funds and other institutional investors.
NYSE:PSB traded down $0.55 during trading hours on Friday, reaching $112.70. 57,850 shares of the company were exchanged, compared to its average volume of 91,952. The stock has a market capitalization of $3,099.39, a PE ratio of 18.55 and a beta of 0.47. PS Business Parks has a twelve month low of $107.91 and a twelve month high of $137.60.
PS Business Parks (NYSE:PSB) last posted its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $1.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.01). The company had revenue of $101.84 million for the quarter, compared to analyst estimates of $101.56 million. PS Business Parks had a return on equity of 17.35% and a net margin of 40.29%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.39 earnings per share. equities research analysts predict that PS Business Parks will post 6.35 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Wednesday, March 14th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Tuesday, March 13th. PS Business Parks’s dividend payout ratio (DPR) is 55.46%.
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About PS Business Parks
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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