Shares of PS Business Parks Inc (NYSE:PSB) have been assigned a consensus broker rating score of 3.00 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation.
Brokerages have set a 1-year consensus target price of $118.00 for the company and are expecting that the company will post $1.40 EPS for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 159 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Friday, April 7th.
Shares of PS Business Parks (NYSE:PSB) traded up 0.62% on Monday, hitting $121.21. 94,834 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $115.50 and its 200 day moving average price is $112.97. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 52.47 and a beta of 0.58. PS Business Parks has a 12-month low of $94.88 and a 12-month high of $121.81.
PS Business Parks (NYSE:PSB) last announced its earnings results on Tuesday, February 21st. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.07. The company earned $97.70 million during the quarter, compared to analysts’ expectations of $96.12 million. PS Business Parks had a net margin of 32.48% and a return on equity of 13.33%. During the same quarter in the previous year, the business posted $0.55 earnings per share. On average, equities analysts predict that PS Business Parks will post $2.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 30th. Stockholders of record on Wednesday, March 15th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Monday, March 13th. This is a positive change from PS Business Parks’s previous quarterly dividend of $0.75. PS Business Parks’s payout ratio is currently 125.52%.
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In other news, Director Joseph D. Russell, Jr. sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $110.61, for a total value of $276,525.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald L. Havner, Jr. sold 10,344 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $116.26, for a total transaction of $1,202,593.44. Following the completion of the transaction, the director now directly owns 10,344 shares of the company’s stock, valued at approximately $1,202,593.44. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in PS Business Parks by 9.2% in the third quarter. JPMorgan Chase & Co. now owns 226,770 shares of the real estate investment trust’s stock worth $25,754,000 after buying an additional 19,067 shares during the last quarter. BlackRock Group LTD increased its stake in PS Business Parks by 5.5% in the third quarter. BlackRock Group LTD now owns 156,058 shares of the real estate investment trust’s stock worth $17,723,000 after buying an additional 8,107 shares during the last quarter. BlackRock Inc. increased its stake in PS Business Parks by 21.8% in the third quarter. BlackRock Inc. now owns 73,050 shares of the real estate investment trust’s stock worth $8,296,000 after buying an additional 13,072 shares during the last quarter. BlackRock Fund Advisors increased its stake in PS Business Parks by 8.4% in the third quarter. BlackRock Fund Advisors now owns 1,365,730 shares of the real estate investment trust’s stock worth $155,106,000 after buying an additional 105,942 shares during the last quarter. Finally, Shinko Asset Management Co. Ltd. increased its stake in PS Business Parks by 1.0% in the third quarter. Shinko Asset Management Co. Ltd. now owns 61,351 shares of the real estate investment trust’s stock worth $6,968,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 72.66% of the company’s stock.
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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