Shares of PS Business Parks, Inc. (NYSE:PSB) have been assigned an average broker rating score of 3.00 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. Three research analysts have rated the stock with a hold rating.

Analysts have set a 12-month consensus price target of $135.00 for the company and are anticipating that the company will post $1.56 EPS for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 204 out of 265 based on the ratings given to related companies.

PSB has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a report on Monday, October 16th. KeyCorp reissued a “hold” rating on shares of PS Business Parks in a research report on Friday, August 25th. Finally, BidaskClub lowered shares of PS Business Parks from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th.

Shares of PS Business Parks (PSB) opened at $128.37 on Wednesday. PS Business Parks has a fifty-two week low of $108.97 and a fifty-two week high of $137.60. The firm has a market cap of $3,577.24, a price-to-earnings ratio of 21.88, a P/E/G ratio of 4.30 and a beta of 0.56.

PS Business Parks (NYSE:PSB) last posted its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.87. PS Business Parks had a net margin of 39.78% and a return on equity of 16.95%. The company had revenue of $100.48 million for the quarter, compared to the consensus estimate of $99.55 million. During the same period last year, the firm posted $1.43 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. research analysts predict that PS Business Parks will post 6.11 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $3.40 annualized dividend and a yield of 2.65%. PS Business Parks’s dividend payout ratio (DPR) is 113.33%.

In related news, Director Sara Grootwassink Lewis sold 5,137 shares of PS Business Parks stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $134.03, for a total value of $688,512.11. Following the transaction, the director now directly owns 4,377 shares of the company’s stock, valued at $586,649.31. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph D. Russell, Jr. sold 800 shares of PS Business Parks stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $133.00, for a total value of $106,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 23,120 shares of company stock valued at $3,123,381 over the last three months. Company insiders own 1.63% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Aperio Group LLC increased its position in shares of PS Business Parks by 4.7% during the 2nd quarter. Aperio Group LLC now owns 9,764 shares of the real estate investment trust’s stock valued at $1,293,000 after purchasing an additional 438 shares during the last quarter. Russell Investments Group Ltd. increased its position in PS Business Parks by 25.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 32,413 shares of the real estate investment trust’s stock valued at $4,291,000 after buying an additional 6,508 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in PS Business Parks by 3.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,610 shares of the real estate investment trust’s stock valued at $610,000 after buying an additional 150 shares in the last quarter. Daiwa Securities Group Inc. increased its position in PS Business Parks by 20.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,800 shares of the real estate investment trust’s stock valued at $238,000 after buying an additional 300 shares in the last quarter. Finally, Texas Permanent School Fund increased its position in PS Business Parks by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 14,291 shares of the real estate investment trust’s stock valued at $1,892,000 after buying an additional 145 shares in the last quarter. 71.97% of the stock is currently owned by institutional investors and hedge funds.

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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.

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