PS Business Parks Inc (NYSE:PSB) has received an average broker rating score of 3.50 (Sell) from the four brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong sell rating and three have given a hold rating to the company.
Analysts have set a 12 month consensus price objective of $124.33 for the company and are predicting that the company will post $1.60 EPS for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 185 out of 255 based on the ratings given to related companies.
PSB has been the topic of several research analyst reports. Zacks Investment Research cut PS Business Parks from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Wells Fargo & Co increased their price objective on PS Business Parks from $121.00 to $131.00 and gave the stock a “market perform” rating in a research note on Thursday, August 9th.
Several institutional investors and hedge funds have recently modified their holdings of PSB. FMR LLC lifted its holdings in shares of PS Business Parks by 87.2% during the 2nd quarter. FMR LLC now owns 341,134 shares of the real estate investment trust’s stock valued at $43,836,000 after purchasing an additional 158,910 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of PS Business Parks by 544.3% during the 1st quarter. Millennium Management LLC now owns 179,992 shares of the real estate investment trust’s stock valued at $20,346,000 after purchasing an additional 152,058 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of PS Business Parks by 151.7% during the 2nd quarter. American Century Companies Inc. now owns 216,980 shares of the real estate investment trust’s stock valued at $27,882,000 after purchasing an additional 130,787 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of PS Business Parks by 3.5% during the 2nd quarter. BlackRock Inc. now owns 3,532,903 shares of the real estate investment trust’s stock valued at $453,977,000 after purchasing an additional 117,876 shares during the last quarter. Finally, TD Asset Management Inc. lifted its holdings in shares of PS Business Parks by 272.6% during the 2nd quarter. TD Asset Management Inc. now owns 85,840 shares of the real estate investment trust’s stock valued at $11,030,000 after purchasing an additional 62,800 shares during the last quarter. Hedge funds and other institutional investors own 70.99% of the company’s stock.
NYSE:PSB traded down $2.94 during midday trading on Friday, hitting $129.77. The stock had a trading volume of 4,330 shares, compared to its average volume of 91,475. PS Business Parks has a one year low of $107.91 and a one year high of $137.45. The stock has a market cap of $3.35 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 3.85 and a beta of 0.46. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.01.
PS Business Parks (NYSE:PSB) last announced its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.56. PS Business Parks had a return on equity of 23.01% and a net margin of 54.22%. The company had revenue of $103.81 million for the quarter, compared to analysts’ expectations of $100.03 million. On average, sell-side analysts anticipate that PS Business Parks will post 6.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Wednesday, December 12th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, December 11th. This represents a $4.20 annualized dividend and a yield of 3.24%. PS Business Parks’s dividend payout ratio (DPR) is presently 68.52%.
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 industrial, flex and office space. As of June 30, 2018, the Company wholly owned 28.3 million rentable square feet with approximately 5,000 commercial customers in six states and a 95.0% interest in a 395-unit apartment complex.
Featured Article: Marijuana Stocks Investing Considerations
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.