Shares of PS Business Parks (NYSE:PSB) have been given an average broker rating score of 3.67 (Sell) from the three analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell rating and two have given a hold rating to the company.
Brokerages have set a 1-year consensus price objective of $120.50 for the company and are anticipating that the company will post $1.50 EPS for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 211 out of 265 based on the ratings given to its competitors.
A number of brokerages have commented on PSB. JPMorgan Chase dropped their target price on shares of PS Business Parks from $135.00 to $123.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 14th. Zacks Investment Research upgraded shares of PS Business Parks from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of PS Business Parks by 4.1% during the fourth quarter. BlackRock Inc. now owns 3,468,381 shares of the real estate investment trust’s stock valued at $433,859,000 after purchasing an additional 137,466 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PS Business Parks by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 310,123 shares of the real estate investment trust’s stock valued at $41,401,000 after purchasing an additional 9,725 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of PS Business Parks by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 273,750 shares of the real estate investment trust’s stock valued at $36,518,000 after purchasing an additional 2,991 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of PS Business Parks by 1.3% during the fourth quarter. Teachers Advisors LLC now owns 206,772 shares of the real estate investment trust’s stock valued at $25,865,000 after purchasing an additional 2,652 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of PS Business Parks by 32.9% during the fourth quarter. American Century Companies Inc. now owns 109,404 shares of the real estate investment trust’s stock valued at $13,685,000 after purchasing an additional 27,084 shares in the last quarter. Hedge funds and other institutional investors own 71.46% of the company’s stock.
PSB stock traded up $0.64 during mid-day trading on Friday, reaching $113.20. The company had a trading volume of 70,109 shares, compared to its average volume of 84,793. The company has a market capitalization of $3,067.78, a P/E ratio of 18.47 and a beta of 0.47. PS Business Parks has a 12 month low of $107.91 and a 12 month high of $137.60.
PS Business Parks (NYSE:PSB) last issued its earnings results on Tuesday, February 20th. The real estate investment trust reported $1.52 EPS for the quarter, missing the Zacks’ 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%. PS Business Parks’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. analysts expect that PS Business Parks will post 6.28 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Wednesday, March 14th were paid a $0.85 dividend. The ex-dividend date of this dividend was Tuesday, March 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.00%. PS Business Parks’s dividend payout ratio is currently 55.46%.
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About PS Business Parks
PS Business Parks, Inc, a member of the S&P SmallCap 600, is a real estate investment trust (?REIT?) that acquires, develops, owns and operates commercial properties, primarily multi-tenant flex, office and industrial space. The Company defines ?flex? space as buildings that are configured with a combination of office and warehouse space and can be designed to fit a number of uses (including office, assembly, showroom, laboratory, light manufacturing and warehouse space).
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