Zacks: Brokerages Anticipate PS Business Parks Inc (PSB) Will Post Earnings of $1.66 Per Share

Wall Street analysts forecast that PS Business Parks Inc (NYSE:PSB) will report earnings per share of $1.66 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for PS Business Parks’ earnings, with the highest EPS estimate coming in at $1.66 and the lowest estimate coming in at $1.65. PS Business Parks reported earnings per share of $1.59 in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.4%. The business is scheduled to report its next earnings report on Tuesday, April 23rd.

On average, analysts expect that PS Business Parks will report full-year earnings of $6.58 per share for the current fiscal year, with EPS estimates ranging from $6.56 to $6.60. For the next fiscal year, analysts expect that the company will report earnings of $6.81 per share, with EPS estimates ranging from $6.79 to $6.83. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for PS Business Parks.

PS Business Parks (NYSE:PSB) last announced its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.63 by ($0.48). The business had revenue of $104.13 million during the quarter, compared to analyst estimates of $103.56 million. PS Business Parks had a net margin of 54.82% and a return on equity of 22.54%.

Separately, Zacks Investment Research downgraded PS Business Parks from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. PS Business Parks presently has a consensus rating of “Hold” and a consensus price target of $124.75.

In related news, insider John W. Petersen sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $151.79, for a total value of $455,370.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of PSB. Bruderman Asset Management LLC acquired a new stake in shares of PS Business Parks in the fourth quarter valued at approximately $98,000. Robecosam AG raised its stake in shares of PS Business Parks by 25.0% during the fourth quarter. Robecosam AG now owns 750 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 150 shares during the last quarter. Mackay Shields LLC purchased a new stake in shares of PS Business Parks during the fourth quarter worth approximately $210,000. Menta Capital LLC purchased a new stake in shares of PS Business Parks during the fourth quarter worth approximately $217,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of PS Business Parks during the third quarter worth approximately $236,000. 71.77% of the stock is owned by institutional investors and hedge funds.

PSB traded up $0.63 on Friday, reaching $156.23. The company’s stock had a trading volume of 762 shares, compared to its average volume of 83,136. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 4.69 and a beta of 0.52. PS Business Parks has a fifty-two week low of $109.00 and a fifty-two week high of $156.71.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, March 13th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Tuesday, March 12th. PS Business Parks’s dividend payout ratio (DPR) is 64.91%.

About PS Business Parks

PS Business Parks, Inc, a member of the S&P SmallCap 600, is a REIT that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of September 30, 2018, the Company wholly owned 28.3 million rentable square feet with approximately 5,050 commercial customers in six states and held a 95.0% interest in a 395-unit apartment complex.

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