PS Business Parks Inc (NYSE:PSB) has earned an average broker rating score of 3.50 (Sell) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell rating and three have issued a hold rating on the company.
Brokers have set a 1 year consensus target price of $124.00 for the company and are expecting that the company will post $1.61 EPS for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 157 out of 255 based on the ratings given to related companies.
Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co upped their price target on shares of PS Business Parks from $121.00 to $131.00 and gave the stock a “market perform” rating in a report on Thursday, August 9th. Finally, JPMorgan Chase & Co. raised shares of PS Business Parks from an “underweight” rating to a “neutral” rating and set a $122.00 price target on the stock in a report on Friday, June 15th.
Shares of PS Business Parks stock traded up $0.77 during trading on Thursday, hitting $130.52. The stock had a trading volume of 79,400 shares, compared to its average volume of 92,498. The stock has a market cap of $3.54 billion, a P/E ratio of 21.16, a PEG ratio of 4.06 and a beta of 0.47. PS Business Parks has a 12 month low of $107.91 and a 12 month high of $137.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.50 and a current ratio of 0.50.
PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.13). The firm had revenue of $101.82 million during the quarter, compared to the consensus estimate of $103.05 million. PS Business Parks had a return on equity of 23.01% and a net margin of 54.22%. sell-side analysts predict that PS Business Parks will post 6.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Wednesday, September 12th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, September 11th. This represents a $4.20 annualized dividend and a dividend yield of 3.22%. This is a boost from PS Business Parks’s previous quarterly dividend of $0.85. PS Business Parks’s dividend payout ratio is presently 68.52%.
In related news, Director Jennifer Holden Dunbar sold 2,789 shares of the stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $128.18, for a total value of $357,494.02. Following the transaction, the director now owns 1,721 shares of the company’s stock, valued at $220,597.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John W. Petersen sold 2,500 shares of the stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $129.40, for a total value of $323,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,857 shares of company stock worth $2,012,562. Insiders own 1.63% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mackay Shields LLC bought a new position in PS Business Parks in the first quarter valued at $1,948,000. Dean Investment Associates LLC bought a new position in PS Business Parks in the first quarter valued at $5,307,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in PS Business Parks by 9.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 20,397 shares of the real estate investment trust’s stock valued at $2,621,000 after acquiring an additional 1,700 shares during the last quarter. State of Alaska Department of Revenue increased its stake in PS Business Parks by 7.3% in the second quarter. State of Alaska Department of Revenue now owns 10,167 shares of the real estate investment trust’s stock valued at $1,305,000 after acquiring an additional 692 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in PS Business Parks in the second quarter valued at $6,499,000. 71.22% of the stock is currently owned by institutional investors and hedge funds.
PS Business Parks Company Profile
PS Business Parks, Inc, a member of the S&P SmallCap 600, is a real estate investment trust (?REIT?) that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of June 30, 2018, the Company wholly owned 28.3 million rentable square feet with approximately 5,000 commercial customers in six states and a 95.0% interest in a 395-unit apartment complex.
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