PS Business Parks, Inc. (PSB) Receives Average Rating of “Hold” from Analysts
Shares of PS Business Parks, Inc. (NYSE:PSB) have received an average 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.
Analysts have set a 12 month consensus price objective of $135.00 for the company and are expecting that the company will post $1.56 earnings per share for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 187 out of 265 based on the ratings given to related companies.
A number of research analysts have recently commented on the company. BidaskClub lowered PS Business Parks from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a research report on Tuesday, September 5th. Finally, KeyCorp reiterated a “hold” rating on shares of PS Business Parks in a research report on Friday, August 25th.
PS Business Parks (NYSE:PSB) last announced its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.87. PS Business Parks had a return on equity of 16.95% and a net margin of 39.78%. The business had revenue of $100.48 million during the quarter, compared to analyst estimates of $99.55 million. During the same period in the previous year, the company earned $1.43 EPS. The firm’s revenue was up 3.2% on a year-over-year basis.
In other PS Business Parks news, Director Jennifer Holden Dunbar sold 4,000 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $130.69, for a total value of $522,760.00. Following the transaction, the director now owns 4,000 shares of the company’s stock, valued at $522,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John W. Petersen sold 3,000 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $132.22, for a total value of $396,660.00. The disclosure for this sale can be found here. Insiders have sold 32,186 shares of company stock worth $4,319,064 in the last ninety days. 1.63% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in PS Business Parks by 0.3% in the third quarter. Principal Financial Group Inc. now owns 163,636 shares of the real estate investment trust’s stock valued at $21,846,000 after purchasing an additional 468 shares in the last quarter. American Century Companies Inc. lifted its position in shares of PS Business Parks by 241.1% in the third quarter. American Century Companies Inc. now owns 82,320 shares of the real estate investment trust’s stock valued at $10,990,000 after buying an additional 58,187 shares during the last quarter. State of Tennessee Treasury Department lifted its position in shares of PS Business Parks by 74.3% in the third quarter. State of Tennessee Treasury Department now owns 31,739 shares of the real estate investment trust’s stock valued at $4,237,000 after buying an additional 13,526 shares during the last quarter. Chicago Equity Partners LLC raised its holdings in PS Business Parks by 32.4% in the 3rd quarter. Chicago Equity Partners LLC now owns 51,226 shares of the real estate investment trust’s stock valued at $6,839,000 after acquiring an additional 12,540 shares in the last quarter. Finally, Forsta AP Fonden bought a new position in shares of PS Business Parks in the 3rd quarter valued at $1,242,000. Hedge funds and other institutional investors own 72.66% of the company’s stock.
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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.
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