PS Business Parks (NYSE:PSB) announced its earnings results on Tuesday. The real estate investment trust reported $1.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.01), Briefing.com reports. PS Business Parks had a net margin of 39.78% and a return on equity of 16.95%. The firm had revenue of $101.84 million for the quarter, compared to the consensus estimate of $101.56 million. During the same period in the prior year, the business earned $1.39 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year.
Shares of PS Business Parks (NYSE PSB) traded down $2.05 during mid-day trading on Tuesday, reaching $112.30. The company had a trading volume of 10,587 shares, compared to its average volume of 94,334. PS Business Parks has a fifty-two week low of $107.91 and a fifty-two week high of $137.60. The company has a market capitalization of $3,116.16, a PE ratio of 19.06, a P/E/G ratio of 3.58 and a beta of 0.44.
In related news, Director Joseph D. Russell, Jr. sold 800 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $128.52, for a total transaction of $102,816.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph D. Russell, Jr. sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $131.50, for a total value of $328,750.00. The disclosure for this sale can be found here. Company insiders own 1.63% of the company’s stock.
Several research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on PS Business Parks from $135.00 to $123.00 and set an “underweight” rating for the company in a research note on Wednesday, February 14th. Zacks Investment Research cut PS Business Parks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st.
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.
Receive News & Ratings for PS Business Parks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PS Business Parks and related companies with MarketBeat.com's FREE daily email newsletter.