PS Business Parks, Inc. (PSB) Announces Earnings Results, Beats Estimates By $0.88 EPS

PS Business Parks, Inc. (NYSE:PSB) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.88, RTT News reports. The firm had revenue of $99.80 million for the quarter, compared to analyst estimates of $100.81 million. PS Business Parks had a net margin of 37.42% and a return on equity of 15.69%. PS Business Parks’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.36 earnings per share.

Shares of PS Business Parks (PSB) traded up 0.45% during trading on Tuesday, reaching $129.30. 71,890 shares of the company’s stock were exchanged. PS Business Parks has a 52 week low of $102.32 and a 52 week high of $134.49. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 47.19 and a beta of 0.59. The stock has a 50 day moving average price of $130.80 and a 200-day moving average price of $120.96.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Investors of record on Wednesday, June 14th were given a dividend of $0.85 per share. The ex-dividend date was Monday, June 12th. This represents a $3.40 dividend on an annualized basis and a yield of 2.63%. PS Business Parks’s payout ratio is presently 124.09%.

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In other PS Business Parks news, Director James H. Kropp sold 1,768 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $124.23, for a total transaction of $219,638.64. Following the sale, the director now directly owns 10,902 shares of the company’s stock, valued at approximately $1,354,355.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John W. Petersen sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $129.83, for a total transaction of $454,405.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,768 shares of company stock worth $2,205,924. 1.63% of the stock is owned by corporate insiders.

A number of research firms recently weighed in on PSB. BidaskClub lowered shares of PS Business Parks from a “buy” rating to a “hold” rating in a research report on Monday. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Tuesday, May 30th.

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.

Earnings History for PS Business Parks (NYSE:PSB)

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