PS Business Parks Inc (NYSE:PSB) has received a consensus broker rating score of 3.67 (Sell) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation and two have given a hold recommendation to the company.
Brokers have set a twelve-month consensus price objective of $129.00 for the company and are anticipating that the company will post $1.52 earnings per share for the current quarter, according to Zacks. Zacks has also assigned PS Business Parks an industry rank of 236 out of 265 based on the ratings given to its competitors.
Several analysts have commented on PSB shares. JPMorgan Chase & Co. lowered shares of PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 price objective on the stock. in a research report on Friday, December 15th. Zacks Investment Research raised shares of PS Business Parks from a “sell” rating to a “hold” rating in a research report on Tuesday, February 27th.
PS Business Parks (NYSE:PSB) last announced its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $1.52 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.01). The company had revenue of $101.84 million during the quarter, compared to the consensus estimate of $101.56 million. PS Business Parks had a return on equity of 17.35% and a net margin of 40.29%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.39 EPS. analysts forecast that PS Business Parks will post 6.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Wednesday, March 14th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Tuesday, March 13th. PS Business Parks’s dividend payout ratio (DPR) is currently 103.03%.
In other news, Director Joseph D. Russell, Jr. sold 800 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $128.52, for a total value of $102,816.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John W. Petersen sold 5,104 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $111.67, for a total transaction of $569,963.68. The disclosure for this sale can be found here. Insiders own 1.63% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc bought a new stake in shares of PS Business Parks in the third quarter valued at approximately $206,000. Meadow Creek Investment Management LLC raised its position in shares of PS Business Parks by 32.8% in the fourth quarter. Meadow Creek Investment Management LLC now owns 1,958 shares of the real estate investment trust’s stock valued at $245,000 after purchasing an additional 484 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of PS Business Parks in the third quarter valued at approximately $264,000. Algert Global LLC purchased a new position in PS Business Parks during the third quarter valued at approximately $372,000. Finally, Schroder Investment Management Group grew its stake in PS Business Parks by 363.6% during the third quarter. Schroder Investment Management Group now owns 3,162 shares of the real estate investment trust’s stock valued at $422,000 after acquiring an additional 2,480 shares in the last quarter. 71.49% of the stock is currently owned by institutional investors.
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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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