PS Business Parks, Inc. (NYSE:PSB) declared a quarterly dividend on Wednesday, July 26th, Wall Street Journal reports. Stockholders of record on Wednesday, September 13th will be given a dividend of 0.85 per share by the real estate investment trust on Thursday, September 28th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Tuesday, September 12th.

PS Business Parks has raised its dividend payment by an average of 19.5% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. PS Business Parks has a payout ratio of 55.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PS Business Parks to earn $6.35 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 53.5%.

PS Business Parks (PSB) traded up 1.55% during mid-day trading on Wednesday, reaching $131.30. The company’s stock had a trading volume of 89,527 shares. PS Business Parks has a 12-month low of $102.32 and a 12-month high of $134.49. The firm’s 50 day moving average price is $130.80 and its 200 day moving average price is $120.96. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 47.92 and a beta of 0.59.

PS Business Parks (NYSE:PSB) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 EPS for the quarter, beating the consensus estimate of $0.67 by $0.88. PS Business Parks had a return on equity of 15.69% and a net margin of 37.42%. The business had revenue of $99.80 million during the quarter, compared to analysts’ expectations of $100.81 million. During the same period last year, the firm earned $1.36 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts predict that PS Business Parks will post $3.16 earnings per share for the current year.

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In other PS Business Parks news, insider John W. Petersen sold 3,500 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $129.83, for a total transaction of $454,405.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Edward A. Stokx sold 7,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $122.13, for a total transaction of $854,910.00. The disclosure for this sale can be found here. Insiders sold 17,768 shares of company stock worth $2,205,924 in the last ninety days. 1.63% of the stock is owned by corporate insiders.

A number of research analysts recently weighed in on the company. Zacks Investment Research upgraded PS Business Parks from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research note on Friday, April 7th. BidaskClub lowered PS Business Parks from a “buy” rating to a “hold” rating in a research report on Monday.

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.

Dividend History for PS Business Parks (NYSE:PSB)

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