Shares of PS Business Parks Inc (NYSE:PSB) have received a consensus broker rating score of 3.50 (Sell) from the four brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell rating and three have assigned a hold rating to the company. PS Business Parks’ rating score has improved by 4.6% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a one year consensus target price of $149.33 for the company and are anticipating that the company will post $1.67 earnings per share for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 90 out of 256 based on the ratings given to related companies.
Separately, Citigroup upped their price objective on PS Business Parks from $107.00 to $133.00 and gave the stock a “sell” rating in a report on Friday, March 29th.
In other news, Director Joseph D. Russell, Jr. sold 2,500 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $156.34, for a total transaction of $390,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John W. Petersen sold 947 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $165.05, for a total value of $156,302.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,413 shares of company stock valued at $1,661,546. Insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in PSB. Bruderman Asset Management LLC acquired a new stake in PS Business Parks in the 4th quarter valued at $98,000. Mackay Shields LLC acquired a new stake in PS Business Parks in the 4th quarter valued at $210,000. Menta Capital LLC acquired a new stake in PS Business Parks in the 4th quarter valued at $217,000. Magnus Financial Group LLC acquired a new stake in PS Business Parks in the 4th quarter valued at $238,000. Finally, Coldstream Capital Management Inc. increased its holdings in PS Business Parks by 4.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,846 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 71.19% of the company’s stock.
Shares of PS Business Parks stock opened at $169.37 on Monday. PS Business Parks has a fifty-two week low of $120.21 and a fifty-two week high of $170.16. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 5.05 and a beta of 0.44.
PS Business Parks (NYSE:PSB) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.29. PS Business Parks had a return on equity of 18.97% and a net margin of 46.31%. The company had revenue of $107.83 million for the quarter, compared to analyst estimates of $103.07 million. As a group, sell-side analysts expect that PS Business Parks will post 6.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be issued a dividend of $1.05 per share. The ex-dividend date is Tuesday, June 11th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.48%. PS Business Parks’s payout ratio is 64.91%.
About PS Business Parks
PS Business Parks, Inc, a member of the S&P SmallCap 600, is a REIT that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of December 31, 2018, the Company wholly owned 28.2 million rentable square feet with approximately 5,050 commercial customers in six states and held a 95.0% interest in a 395-unit apartment complex.
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