Analysts Expect PS Business Parks Inc (PSB) to Announce $1.54 Earnings Per Share
PS Business Parks Inc (NYSE:PSB) has earned a consensus broker rating score of 3.67 (Sell) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong sell rating and two have assigned a hold rating to the company. PS Business Parks’ rating score has declined by 22.3% from 90 days ago as a result of a number of analysts’ ratings changes.
Brokerages have set a 1-year consensus price target of $135.00 for the company and are expecting that the company will post $1.54 earnings per share for the current quarter, according to Zacks. Zacks has also assigned PS Business Parks an industry rank of 228 out of 265 based on the ratings given to its competitors.
A number of equities research analysts recently weighed in on PSB shares. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $152.00 price objective on the stock in a research note on Monday, October 16th. JPMorgan Chase & Co. cut shares of PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 price objective on the stock. in a research note on Friday, December 15th.
In related news, Director Joseph D. Russell, Jr. sold 800 shares of PS Business Parks 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronald L. Havner, Jr. sold 4,000 shares of PS Business Parks stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $136.61, for a total value of $546,440.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,300 shares of company stock worth $978,006. Company insiders own 1.63% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. grew its holdings in PS Business Parks by 27.7% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 29,575 shares of the real estate investment trust’s stock worth $3,948,000 after acquiring an additional 6,410 shares during the period. Public Employees Retirement System of Ohio grew its holdings in PS Business Parks by 3.9% during the third quarter. Public Employees Retirement System of Ohio now owns 25,836 shares of the real estate investment trust’s stock worth $3,449,000 after acquiring an additional 966 shares during the period. 361 Capital LLC acquired a new position in PS Business Parks during the third quarter worth about $2,006,000. Legal & General Group Plc grew its holdings in PS Business Parks by 5.9% during the third quarter. Legal & General Group Plc now owns 87,994 shares of the real estate investment trust’s stock worth $11,748,000 after acquiring an additional 4,910 shares during the period. Finally, APG Asset Management N.V. acquired a new position in PS Business Parks during the third quarter worth about $1,776,000. 71.35% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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