PS Business Parks CEO Sells $725,800 in Stock (PSB)
PS Business Parks (NYSE:PSB) CEO Joseph Russell, Jr. sold 10,000 shares of the company’s stock on the open market in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $72.58, for a total transaction of $725,800.00. Following the sale, the chief executive officer now directly owns 33,850 shares of the company’s stock. The sale was disclosed in a document filed with the SEC, which is available at this link.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of PS Business Parks (NYSE:PSB) in a research note to investors on Wednesday, July 17th. They now have a $79.00 price target on the stock.
Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $80.00.
PS Business Parks (NYSE:PSB) traded up 0.18% during mid-day trading on Thursday, hitting $72.68. The stock had a trading volume of 14,661 shares. PS Business Parks has a one year low of $63.24 and a one year high of $86.94. The stock has a 50-day moving average of $73.33 and a 200-day moving average of $75.92. The company has a market cap of $1.772 billion and a P/E ratio of 54.96.
PS Business Parks (NYSE:PSB) last announced its earnings results on Monday, July 29th. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by $0.02. The company had revenue of $87.93 million for the quarter, compared to the consensus estimate of $87.89 million. During the same quarter last year, the company posted $1.18 earnings per share. PS Business Parks’s revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that PS Business Parks will post $4.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Wednesday, September 11th.
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