BidaskClub lowered shares of PS Business Parks, Inc. (NYSE:PSB) from a buy rating to a hold rating in a research note released on Tuesday.
Separately, Zacks Investment Research cut PS Business Parks from a buy rating to a hold rating in a report on Monday, May 29th.
Shares of PS Business Parks (NYSE PSB) opened at 130.61 on Tuesday. PS Business Parks has a 1-year low of $102.32 and a 1-year high of $136.27. The company has a 50-day moving average price of $131.28 and a 200-day moving average price of $122.48. The company has a market cap of $3.55 billion, a PE ratio of 42.66 and a beta of 0.59.
PS Business Parks (NYSE:PSB) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.88. The business had revenue of $99.80 million for the quarter, compared to analyst estimates of $100.81 million. PS Business Parks had a return on equity of 16.50% and a net margin of 39.05%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 EPS. Equities research analysts expect that PS Business Parks will post $3.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Wednesday, September 13th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Tuesday, September 12th. PS Business Parks’s dividend payout ratio (DPR) is presently 111.11%.
In related news, insider John W. Petersen sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $129.83, for a total transaction of $454,405.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.63% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PS Business Parks by 0.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,236 shares of the real estate investment trust’s stock worth $164,000 after buying an additional 8 shares during the period. 1st Global Advisors Inc. increased 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 valued at $210,000 after buying an additional 20 shares during the period. Pinebridge Investments L.P. increased its position in PS Business Parks by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 2,578 shares of the real estate investment trust’s stock valued at $342,000 after buying an additional 29 shares during the period. Municipal Employees Retirement System of Michigan increased its position in PS Business Parks by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 4,460 shares of the real estate investment trust’s stock valued at $512,000 after buying an additional 40 shares during the period. Finally, Capital One National Association increased its position in PS Business Parks by 1.2% in the first quarter. Capital One National Association now owns 3,969 shares of the real estate investment trust’s stock valued at $455,000 after buying an additional 46 shares during the period. 71.30% of the stock is owned by institutional investors and hedge funds.
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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