Shares of PS Business Parks Inc (NYSE:PSB) have received a consensus broker rating score of 3.67 (Sell) from the three brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell rating and two have assigned a hold rating to the company. PS Business Parks’ rating score has declined by 22.3% from three months ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a 1 year consensus target price of $135.00 for the company and are expecting that the company will post $1.54 EPS for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 231 out of 265 based on the ratings given to related companies.
PSB has been the subject of a number of research analyst reports. Zacks Investment Research upgraded PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a research report on Monday, October 16th. JPMorgan Chase & Co. cut PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 price target for the company. in a research report on Friday, December 15th.
In related news, Director Robert S. Rollo sold 2,070 shares of PS Business Parks stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $135.19, for a total transaction of $279,843.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ronald L. Havner, Jr. sold 4,000 shares of PS Business Parks stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $136.61, for a total value of $546,440.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,370 shares of company stock valued at $1,257,849. Company insiders own 1.63% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Flinton Capital Management LLC increased its position in PS Business Parks by 85.7% during the 2nd quarter. Flinton Capital Management LLC now owns 1,040 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 480 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in PS Business Parks during the 3rd quarter worth about $206,000. Coldstream Capital Management Inc. purchased a new stake in PS Business Parks during the 2nd quarter worth about $237,000. Shelton Capital Management purchased a new stake in PS Business Parks during the 2nd quarter worth about $257,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in PS Business Parks during the 3rd quarter worth about $264,000. Hedge funds and other institutional investors own 71.80% of the company’s stock.
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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