Analysts forecast that PS Business Parks Inc (NYSE:PSB) will post earnings of $1.52 per share for the current quarter, according to Zacks. Zero analysts have made estimates for PS Business Parks’ earnings, with estimates ranging from $1.49 to $1.55. PS Business Parks also posted earnings per share of $1.52 during the same quarter last year. The company is expected to report its next quarterly earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that PS Business Parks will report full year earnings of $6.32 per share for the current fiscal year, with EPS estimates ranging from $6.19 to $6.53. For the next fiscal year, analysts expect that the firm will post earnings of $6.53 per share, with EPS estimates ranging from $6.36 to $6.78. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover PS Business Parks.
PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $1.52 EPS for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.01). PS Business Parks had a net margin of 40.29% and a return on equity of 17.35%. The firm had revenue of $101.84 million during the quarter, compared to the consensus estimate of $101.56 million. During the same period in the prior year, the business earned $1.39 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year.
A number of equities analysts recently issued reports on the stock. JPMorgan Chase dropped their target price on shares of PS Business Parks from $135.00 to $123.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 14th. Zacks Investment Research upgraded shares of PS Business Parks from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th.
PSB stock traded down $2.53 on Wednesday, reaching $110.51. 10,478 shares of the company were exchanged, compared to its average volume of 92,035. PS Business Parks has a 12 month low of $107.91 and a 12 month high of $137.60. The firm has a market capitalization of $3,080.86, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 3.58 and a beta of 0.47.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Wednesday, March 14th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Tuesday, March 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.08%. PS Business Parks’s dividend payout ratio is currently 55.46%.
In other PS Business Parks news, insider John W. Petersen sold 5,104 shares of PS Business Parks stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $111.67, for a total transaction of $569,963.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Meadow Creek Investment Management LLC lifted its position in PS Business Parks by 32.8% during the 4th quarter. Meadow Creek Investment Management LLC now owns 1,958 shares of the real estate investment trust’s stock worth $245,000 after buying an additional 484 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in PS Business Parks during the 3rd quarter worth about $264,000. Algert Global LLC bought a new stake in PS Business Parks during the 3rd quarter worth about $372,000. Schroder Investment Management Group raised its holdings in PS Business Parks by 363.6% during the 3rd quarter. Schroder Investment Management Group now owns 3,162 shares of the real estate investment trust’s stock worth $422,000 after purchasing an additional 2,480 shares during the last quarter. Finally, Xact Kapitalforvaltning AB bought a new stake in PS Business Parks during the 4th quarter worth about $510,000. Institutional investors own 71.46% of the company’s stock.
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PS Business Parks Company Profile
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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