Analysts expect PS Business Parks Inc (NYSE:PSB) to post $105.10 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for PS Business Parks’ earnings. The highest sales estimate is $105.47 million and the lowest is $104.72 million. PS Business Parks reported sales of $101.82 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.2%. The company is expected to announce its next quarterly earnings results on Tuesday, July 23rd.
According to Zacks, analysts expect that PS Business Parks will report full-year sales of $422.57 million for the current year, with estimates ranging from $419.20 million to $425.94 million. For the next financial year, analysts anticipate that the business will post sales of $432.60 million, with estimates ranging from $423.58 million to $441.62 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for PS Business Parks.
PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.29. PS Business Parks had a net margin of 46.31% and a return on equity of 18.97%. The business had revenue of $107.83 million for the quarter, compared to analyst estimates of $103.07 million.
Shares of PSB stock traded up $1.34 during trading hours on Friday, reaching $165.02. 80,908 shares of the stock traded hands, compared to its average volume of 145,906. PS Business Parks has a 1-year low of $117.55 and a 1-year high of $167.43. The firm has a market capitalization of $4.52 billion, a P/E ratio of 25.51, a P/E/G ratio of 4.91 and a beta of 0.51.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $4.20 annualized dividend and a yield of 2.55%. PS Business Parks’s dividend payout ratio is presently 64.91%.
In other PS Business Parks news, CAO Trenton Groves sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $160.01, for a total value of $320,020.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John W. Petersen sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $151.79, for a total transaction of $455,370.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,166 shares of company stock worth $1,752,795. Company insiders own 1.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in PS Business Parks by 1.3% in the fourth quarter. BlackRock Inc. now owns 3,533,326 shares of the real estate investment trust’s stock worth $462,866,000 after acquiring an additional 45,023 shares in the last quarter. Vanguard Group Inc grew its position in PS Business Parks by 1.7% in the third quarter. Vanguard Group Inc now owns 3,132,045 shares of the real estate investment trust’s stock worth $398,051,000 after acquiring an additional 51,851 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in PS Business Parks by 20.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 343,035 shares of the real estate investment trust’s stock worth $53,799,000 after acquiring an additional 58,694 shares in the last quarter. Dimensional Fund Advisors LP grew its position in PS Business Parks by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 330,719 shares of the real estate investment trust’s stock worth $51,869,000 after acquiring an additional 2,923 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in PS Business Parks by 12.0% in the first quarter. Geode Capital Management LLC now owns 309,371 shares of the real estate investment trust’s stock worth $48,518,000 after acquiring an additional 33,140 shares in the last quarter. Hedge funds and other institutional investors own 72.51% of the company’s stock.
PS Business Parks Company Profile
PS Business Parks, Inc, a member of the S&P SmallCap 600, is a REIT that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of December 31, 2018, the Company wholly owned 28.2 million rentable square feet with approximately 5,050 commercial customers in six states and held a 95.0% interest in a 395-unit apartment complex.
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