Shares of PS Business Parks Inc (NYSE:PSB) have earned an average broker rating score of 3.50 (Sell) from the four analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell recommendation and three have issued a hold recommendation on the company. PS Business Parks’ rating score has improved by 4.6% from three months ago as a result of various analysts’ ratings changes.
Brokerages have set a twelve-month consensus price target of $120.00 for the company and are anticipating that the company will post $1.58 EPS for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 102 out of 255 based on the ratings given to its competitors.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $139.00 target price on the stock in a report on Tuesday, June 12th. Citigroup lowered their price objective on shares of PS Business Parks from $111.00 to $107.00 and set a “sell” rating for the company in a research report on Tuesday, April 24th. Finally, JPMorgan Chase & Co. raised shares of PS Business Parks from an “underweight” rating to a “neutral” rating and set a $122.00 price objective for the company in a research report on Friday, June 15th.
In other PS Business Parks news, Director Joseph D. Russell, Jr. sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $116.15, for a total value of $174,225.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sara Grootwassink Lewis sold 7,068 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $124.45, for a total transaction of $879,612.60. Following the completion of the transaction, the director now owns 4,068 shares in the company, valued at approximately $506,262.60. The disclosure for this sale can be found here. Insiders have sold a total of 19,995 shares of company stock valued at $2,397,433 over the last three months. 1.50% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP raised its stake in shares of PS Business Parks by 84.7% in the 1st quarter. Quantbot Technologies LP now owns 1,522 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 698 shares in the last quarter. Natixis bought a new position in PS Business Parks during the first quarter worth $213,000. Dynamic Technology Lab Private Ltd bought a new position in PS Business Parks during the first quarter worth $230,000. Meadow Creek Investment Management LLC boosted its position in PS Business Parks by 32.8% during 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 purchasing an additional 484 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in PS Business Parks by 23.8% during the first quarter. Daiwa Securities Group Inc. now owns 2,600 shares of the real estate investment trust’s stock worth $294,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 70.93% of the company’s stock.
Shares of PS Business Parks traded up $0.13, reaching $127.08, during mid-day trading on Friday, according to Marketbeat. 1,267 shares of the company’s stock were exchanged, compared to its average volume of 107,734. PS Business Parks has a 52-week low of $107.91 and a 52-week high of $137.60. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 20.71 and a beta of 0.50.
PS Business Parks (NYSE:PSB) last issued its quarterly earnings data on Tuesday, April 24th. The real estate investment trust reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.92. The business had revenue of $103.75 million during the quarter, compared to analysts’ expectations of $101.77 million. PS Business Parks had a net margin of 43.04% and a return on equity of 18.57%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. equities analysts expect that PS Business Parks will post 6.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Wednesday, June 13th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Tuesday, June 12th. PS Business Parks’s payout ratio is 55.46%.
PS Business Parks Company Profile
PS Business Parks, Inc, a member of the S&P SmallCap 600, is a real estate investment trust (?REIT?) that acquires, develops, owns and operates commercial properties, primarily multi-tenant flex, office and industrial space. The Company defines ?flex? space as buildings that are configured with a combination of office and warehouse space and can be designed to fit a number of uses (including office, assembly, showroom, laboratory, light manufacturing and warehouse space).
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