Zacks: PS Business Parks, Inc. (PSB) Receives Average Rating of “Hold” from Analysts
Shares of PS Business Parks, Inc. (NYSE:PSB) have earned a consensus broker rating score of 3.00 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a hold rating.
Analysts have set a 1-year consensus price target of $127.00 for the company and are expecting that the company will post $1.53 earnings per share for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 166 out of 265 based on the ratings given to related companies.
PSB has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research note on Friday, April 7th. BidaskClub upgraded shares of PS Business Parks from a “buy” rating to a “strong-buy” rating in a research note on Thursday.
TRADEMARK VIOLATION NOTICE: This piece of content was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/06/16/zacks-ps-business-parks-inc-psb-receives-average-rating-of-hold-from-analysts-2.html.
In other PS Business Parks news, insider John W. Petersen sold 3,500 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $129.83, for a total value of $454,405.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James H. Kropp sold 1,768 shares of the business’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $124.23, for a total transaction of $219,638.64. Following the completion of the transaction, the director now owns 10,902 shares in the company, valued at $1,354,355.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,768 shares of company stock worth $2,205,924. Corporate insiders own 1.63% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSB. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PS Business Parks by 9.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,228 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 104 shares during the last quarter. Elkfork Partners LLC acquired a new stake in shares of PS Business Parks during the fourth quarter worth approximately $151,000. Daiwa Securities Group Inc. boosted its stake in shares of PS Business Parks by 25.0% in the first quarter. Daiwa Securities Group Inc. now owns 1,500 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 300 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of PS Business Parks during the first quarter worth approximately $195,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of PS Business Parks by 9.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,730 shares of the real estate investment trust’s stock worth $201,000 after buying an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 71.26% of the company’s stock.
Shares of PS Business Parks (NYSE:PSB) traded down 0.14% during midday trading on Friday, reaching $132.87. 38,881 shares of the company traded hands. PS Business Parks has a 12-month low of $101.46 and a 12-month high of $134.49. The company has a 50-day moving average of $125.12 and a 200 day moving average of $117.81. The firm has a market capitalization of $3.61 billion, a PE ratio of 48.49 and a beta of 0.60.
PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. The business had revenue of $100.19 million for the quarter, compared to analysts’ expectations of $95.85 million. PS Business Parks had a net margin of 37.42% and a return on equity of 15.69%. During the same period in the previous year, the company earned $1.26 earnings per share. On average, equities analysts forecast that PS Business Parks will post $3.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Wednesday, June 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Monday, June 12th. PS Business Parks’s payout ratio is 124.09%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PS Business Parks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PS Business Parks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.