PS Business Parks Inc (NYSE:PSB) – Analysts at KeyCorp upped their Q1 2018 earnings estimates for shares of PS Business Parks in a research note issued to investors on Monday. KeyCorp analyst C. Mailman now forecasts that the real estate investment trust will earn $1.55 per share for the quarter, up from their prior estimate of $1.51. KeyCorp also issued estimates for PS Business Parks’ FY2019 earnings at $6.36 EPS.
PS Business Parks (NYSE:PSB) last posted its earnings results on Tuesday, February 20th. The real estate investment trust reported $1.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.01). The company had revenue of $101.84 million for the quarter, compared to the consensus estimate of $101.56 million. PS Business Parks had a net margin of 40.29% and a return on equity of 17.35%. PS Business Parks’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $1.39 earnings per share.
PS Business Parks (NYSE:PSB) opened at $110.86 on Tuesday. The company has a market capitalization of $3,020.00, a PE ratio of 33.59, a PEG ratio of 3.53 and a beta of 0.44. PS Business Parks has a 12 month low of $107.91 and a 12 month high of $137.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, March 14th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.07%. PS Business Parks’s payout ratio is presently 103.03%.
In other news, Director Joseph D. Russell, Jr. sold 2,500 shares of PS Business Parks stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $131.50, for a total value of $328,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph D. Russell, Jr. sold 800 shares of PS Business Parks stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $128.52, for a total value of $102,816.00. The disclosure for this sale can be found here. Insiders own 1.63% of the company’s stock.
Several institutional investors have recently bought and sold shares of PSB. CIBC Asset Management Inc bought a new position in shares of PS Business Parks in the third quarter worth about $206,000. Meadow Creek Investment Management LLC increased its stake 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 valued at $245,000 after acquiring an additional 484 shares during the period. Cubist Systematic Strategies LLC bought a new position in PS Business Parks during the third quarter valued at about $264,000. Algert Global LLC bought a new position in PS Business Parks during the third quarter valued at about $372,000. Finally, Schroder Investment Management Group increased its stake in PS Business Parks by 363.6% during 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 acquiring an additional 2,480 shares during the period. Institutional investors and hedge funds own 70.06% of the company’s stock.
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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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