Brokerages Anticipate PS Business Parks, Inc. (PSB) to Announce $1.53 EPS
Shares of PS Business Parks, Inc. (NYSE:PSB) have been assigned a consensus broker rating score of 3.00 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. Three analysts have rated the stock with a hold rating.
Analysts have set a 1 year consensus price target of $128.00 for the company and are forecasting that the company will post $1.53 earnings per share for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 164 out of 265 based on the ratings given to related companies.
PSB has been the topic of several analyst reports. BidaskClub cut shares of PS Business Parks from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a report on Monday, May 29th.
In other PS Business Parks news, insider John W. Petersen sold 3,500 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $129.83, for a total value of $454,405.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.63% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC boosted its position in PS Business Parks by 85.7% in the second quarter. Flinton Capital Management LLC now owns 1,040 shares of the real estate investment trust’s stock worth $138,000 after buying an additional 480 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PS Business Parks by 9.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,228 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 104 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in PS Business Parks by 25.0% in the first quarter. Daiwa Securities Group Inc. now owns 1,500 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 300 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in PS Business Parks during the first quarter worth $195,000. Finally, 1st Global Advisors Inc. boosted its position in PS Business Parks by 1.1% in the first quarter. 1st Global Advisors Inc. now owns 1,832 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 71.40% of the company’s stock.
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Shares of PS Business Parks (NYSE PSB) traded down 0.58% during midday trading on Tuesday, reaching $130.96. 77,088 shares of the company traded hands. The company has a 50-day moving average of $131.30 and a 200 day moving average of $123.04. PS Business Parks has a 12-month low of $102.32 and a 12-month high of $136.27. The firm has a market capitalization of $3.56 billion, a PE ratio of 42.77 and a beta of 0.59.
PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.88. PS Business Parks had a net margin of 39.05% and a return on equity of 16.50%. The business had revenue of $99.80 million for the quarter, compared to analysts’ expectations of $100.81 million. During the same period in the previous year, the company earned $1.36 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities analysts forecast that PS Business Parks will post $3.12 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Tuesday, September 12th. PS Business Parks’s payout ratio is 111.11%.
PS Business Parks Company Profile
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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