Shares of PS Business Parks Inc (NYSE:PSB) have been given a consensus broker rating score of 3.50 (Sell) from the four brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell rating and three have given a hold rating to the company.
Brokers have set a 1 year consensus target price of $127.33 for the company and are forecasting that the company will post $1.63 EPS for the current quarter, according to Zacks. Zacks has also assigned PS Business Parks an industry rank of 160 out of 257 based on the ratings given to its competitors.
A number of research firms have recently commented on PSB. ValuEngine raised shares of PS Business Parks from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded shares of PS Business Parks from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Finally, Wells Fargo & Co raised their price objective 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.
PS Business Parks (NYSE:PSB) last released its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.56. The company had revenue of $103.81 million during the quarter, compared to the consensus estimate of $100.03 million. PS Business Parks had a net margin of 53.92% and a return on equity of 22.57%. As a group, equities research analysts predict that PS Business Parks will post 6.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Wednesday, December 12th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Tuesday, December 11th. PS Business Parks’s dividend payout ratio (DPR) is currently 68.52%.
In related news, insider John W. Petersen sold 2,500 shares of the stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $129.40, for a total transaction of $323,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.63% of the company’s stock.
Several institutional investors have recently made changes to their positions in PSB. Everence Capital Management Inc. acquired a new stake in PS Business Parks in the 2nd quarter valued at about $204,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in PS Business Parks in the 2nd quarter valued at about $209,000. Quantum Capital Management acquired a new stake in PS Business Parks in the 2nd quarter valued at about $218,000. CIBC Asset Management Inc acquired a new stake in PS Business Parks in the 2nd quarter valued at about $221,000. Finally, Redpoint Investment Management Pty Ltd acquired a new stake in PS Business Parks in the 3rd quarter valued at about $254,000. Institutional investors and hedge funds own 71.32% of the company’s stock.
About PS Business Parks
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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