Shares of PS Business Parks, Inc. (NYSE:PSB) have received an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation.
Brokerages have set a 1-year consensus price objective of $121.00 for the company and are predicting that the company will post $1.52 earnings per share for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 179 out of 265 based on the ratings given to related companies.
PSB has been the topic of several analyst reports. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a report on Friday, April 7th. BidaskClub upgraded shares of PS Business Parks from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 15th.
In other PS Business Parks news, insider John W. Petersen sold 3,500 shares of PS Business Parks stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $129.83, for a total value of $454,405.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Edward A. Stokx sold 7,000 shares of PS Business Parks stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $122.13, for a total transaction of $854,910.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,768 shares of company stock worth $2,205,924. 1.63% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of PS Business Parks by 3,580.8% in the first quarter. BlackRock Inc. now owns 3,311,472 shares of the real estate investment trust’s stock valued at $380,026,000 after buying an additional 3,221,505 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of PS Business Parks by 3.6% in the first quarter. Vanguard Group Inc. now owns 3,279,968 shares of the real estate investment trust’s stock valued at $376,409,000 after buying an additional 113,922 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of PS Business Parks by 5.9% in the first quarter. Wellington Management Group LLP now owns 1,226,997 shares of the real estate investment trust’s stock valued at $140,811,000 after buying an additional 67,875 shares in the last quarter. State Street Corp raised its stake in shares of PS Business Parks by 7.1% in the first quarter. State Street Corp now owns 777,722 shares of the real estate investment trust’s stock valued at $89,248,000 after buying an additional 51,305 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of PS Business Parks by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 289,738 shares of the real estate investment trust’s stock valued at $33,249,000 after buying an additional 12,705 shares in the last quarter. 71.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of PS Business Parks (NYSE PSB) traded up 1.68% during midday trading on Friday, reaching $133.50. 197,342 shares of the company’s stock traded hands. The stock has a 50 day moving average of $125.95 and a 200-day moving average of $118.36. PS Business Parks has a 12 month low of $101.46 and a 12 month high of $134.49. The stock has a market cap of $3.63 billion, a P/E ratio of 48.72 and a beta of 0.60.
PS Business Parks (NYSE:PSB) last issued its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The firm had revenue of $100.19 million during the quarter, compared to analysts’ expectations of $95.85 million. PS Business Parks had a net margin of 37.42% and a return on equity of 15.69%. During the same period last year, the company earned $1.26 earnings per share. On average, equities research analysts forecast that PS Business Parks will post $3.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Wednesday, June 14th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.55%. The ex-dividend date is Monday, June 12th. PS Business Parks’s dividend payout ratio (DPR) is presently 124.09%.
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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