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 stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation.
Analysts have set a 12-month consensus target price of $108.00 for the company and are expecting that the company will post $1.40 earnings per share for the current quarter, according to Zacks. Zacks has also assigned PS Business Parks an industry rank of 93 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Citigroup Inc. boosted their price target on shares of PS Business Parks from $93.00 to $107.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th.
In related news, Director James H. Kropp sold 1,668 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $109.60, for a total transaction of $182,812.80. Following the completion of the transaction, the director now directly owns 10,502 shares of the company’s stock, valued at approximately $1,151,019.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph D. Russell, Jr. sold 2,000 shares of the business’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $108.45, for a total value of $216,900.00. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new stake in shares of PS Business Parks during the second quarter valued at $108,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of PS Business Parks by 8.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,096 shares of the company’s stock worth $116,000 after buying an additional 81 shares in the last quarter. BlackRock Japan Co. Ltd increased its position in shares of PS Business Parks by 0.3% in the first quarter. BlackRock Japan Co. Ltd now owns 1,276 shares of the company’s stock worth $128,000 after buying an additional 4 shares in the last quarter. Parametrica Management Ltd bought a new position in shares of PS Business Parks during the second quarter worth approximately $200,000. Finally, M&T Bank Corp bought a new position in shares of PS Business Parks during the second quarter worth approximately $204,000. 72.13% of the stock is owned by hedge funds and other institutional investors.
PS Business Parks (NYSE:PSB) traded down 0.482% during mid-day trading on Tuesday, reaching $106.375. 13,740 shares of the company were exchanged. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 42.567 and a beta of 0.63. PS Business Parks has a 1-year low of $81.27 and a 1-year high of $117.00. The company has a 50 day moving average of $110.55 and a 200-day moving average of $105.23.
PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by $0.02. The company earned $96.20 million during the quarter, compared to analysts’ expectations of $95 million. PS Business Parks had a net margin of 34.54% and a return on equity of 14.22%. PS Business Parks’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. On average, equities research analysts forecast that PS Business Parks will post $5.36 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th were paid a $0.75 dividend. The ex-dividend date was Monday, September 12th. This represents a $3.00 annualized dividend and a dividend yield of 2.81%. PS Business Parks’s dividend payout ratio (DPR) is 120.00%.
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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