Brokerages Expect PS Business Parks Inc (PSB) to Post $1.54 Earnings Per Share

Shares of PS Business Parks Inc (NYSE:PSB) have received an average broker rating score of 3.67 (Sell) from the three analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell rating and two have given a hold rating to the company. PS Business Parks’ rating score has declined by 22.3% in the last 90 days as a result of various analysts’ upgrades and downgrades.

Brokerages have set a 12-month consensus target price of $135.00 for the company and are expecting that the company will post $1.54 earnings per share for the current quarter, according to Zacks. Zacks has also assigned PS Business Parks an industry rank of 196 out of 265 based on the ratings given to its competitors.

Several analysts have issued reports on the company. Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a research note on Monday, October 16th. JPMorgan Chase & Co. lowered PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 target price for the company. in a research note on Friday, December 15th.

PS Business Parks (PSB) opened at $120.20 on Friday. The firm has a market cap of $3,280.00, a P/E ratio of 39.93, a P/E/G ratio of 3.86 and a beta of 0.56. PS Business Parks has a 52-week low of $108.97 and a 52-week high of $137.60.

PS Business Parks (NYSE:PSB) last posted its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.87. The company had revenue of $100.48 million for the quarter, compared to analysts’ expectations of $99.55 million. PS Business Parks had a net margin of 39.78% and a return on equity of 16.95%. PS Business Parks’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 earnings per share. equities analysts forecast that PS Business Parks will post 6.03 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Tuesday, December 12th. PS Business Parks’s dividend payout ratio (DPR) is presently 112.96%.

In related news, Director Ronald L. Havner, Jr. sold 4,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $136.61, for a total value of $546,440.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph D. Russell, Jr. sold 2,500 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $131.50, for a total value of $328,750.00. The disclosure for this sale can be found here. Insiders sold 9,370 shares of company stock valued at $1,257,849 in the last ninety days. 1.63% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its stake in PS Business Parks by 3.9% in the third quarter. Public Employees Retirement System of Ohio now owns 25,836 shares of the real estate investment trust’s stock worth $3,449,000 after acquiring an additional 966 shares during the period. Algert Global LLC bought a new position in PS Business Parks in the third quarter worth $372,000. California Public Employees Retirement System raised its holdings in PS Business Parks by 2.6% in the third quarter. California Public Employees Retirement System now owns 69,142 shares of the real estate investment trust’s stock worth $9,230,000 after purchasing an additional 1,722 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in PS Business Parks in the third quarter worth $264,000. Finally, Asset Management One Co. Ltd. raised its holdings in PS Business Parks by 1.6% in the third quarter. Asset Management One Co. Ltd. now owns 67,393 shares of the real estate investment trust’s stock worth $8,991,000 after purchasing an additional 1,047 shares in the last quarter. 71.85% of the stock is owned by institutional investors.

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PS Business Parks Company Profile

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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