PS Business Parks Inc (NYSE:PSB) announced a quarterly dividend on Monday, November 6th, Wall Street Journal reports. Investors of record on Wednesday, December 13th will be given a dividend of 0.85 per share by the real estate investment trust on Thursday, December 28th. This represents a $3.40 annualized dividend and a yield of 2.66%. The ex-dividend date is Tuesday, December 12th.

PS Business Parks has raised its dividend payment by an average of 19.5% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. PS Business Parks has a payout ratio of 55.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PS Business Parks to earn $6.47 per share next year, which means the company should continue to be able to cover its $3.40 annual dividend with an expected future payout ratio of 52.6%.

PS Business Parks (NYSE:PSB) opened at $127.65 on Thursday. The company has a market cap of $3,498.22, a PE ratio of 21.40, a PEG ratio of 4.20 and a beta of 0.56. PS Business Parks has a fifty-two week low of $108.97 and a fifty-two week high of $137.60.

PS Business Parks (NYSE:PSB) last posted its earnings results on Tuesday, October 24th. The real estate investment trust reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.87. The firm had revenue of $100.48 million during the quarter, compared to analysts’ expectations of $99.55 million. PS Business Parks had a net margin of 39.78% and a return on equity of 16.95%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 earnings per share. equities analysts anticipate that PS Business Parks will post 6.11 earnings per share for the current fiscal year.

A number of research analysts have recently commented on PSB shares. KeyCorp reissued a “hold” rating on shares of PS Business Parks in a report on Friday, August 25th. Zacks Investment Research cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a report on Monday, September 4th.

In other news, Director Ronald L. Havner, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $136.61, for a total value of $546,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph D. Russell, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on 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. Insiders sold 23,120 shares of company stock valued at $3,123,381 in the last three months. Company insiders own 1.63% of the company’s stock.

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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.

Dividend History for PS Business Parks (NYSE:PSB)

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