Wall Street analysts expect PS Business Parks Inc (NYSE:PSB) to report earnings per share (EPS) of $1.52 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for PS Business Parks’ earnings. The lowest EPS estimate is $1.49 and the highest is $1.55. PS Business Parks also reported earnings of $1.52 per share in the same quarter last year. The firm is expected to report its next earnings results on Tuesday, April 24th.
On average, analysts expect that PS Business Parks will report full year earnings of $6.32 per share for the current financial year, with EPS estimates ranging from $6.19 to $6.53. For the next fiscal year, analysts forecast that the company will post earnings of $6.53 per share, with EPS estimates ranging from $6.36 to $6.78. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover PS Business Parks.
PS Business Parks (NYSE:PSB) last posted its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $1.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.01). PS Business Parks had a return on equity of 17.35% and a net margin of 40.29%. The business had revenue of $101.84 million during the quarter, compared to analyst estimates of $101.56 million. During the same period last year, the company earned $1.39 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis.
Several research analysts recently issued reports on PSB shares. JPMorgan Chase & Co. lowered shares of PS Business Parks from a “neutral” rating to an “underweight” rating and set a $135.00 price target for the company. in a research report on Friday, December 15th. Zacks Investment Research raised shares of PS Business Parks from a “sell” rating to a “hold” rating in a research report on Tuesday, February 27th.
PS Business Parks (NYSE:PSB) opened at $115.14 on Friday. PS Business Parks has a 52-week low of $107.91 and a 52-week high of $137.60. The stock has a market cap of $3,138.14, a PE ratio of 34.89, a P/E/G ratio of 3.59 and a beta of 0.53.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, March 14th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.95%. The ex-dividend date is Tuesday, March 13th. PS Business Parks’s dividend payout ratio (DPR) is presently 103.03%.
In other PS Business Parks news, Director Joseph D. Russell, Jr. sold 800 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $128.52, for a total transaction of $102,816.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John W. Petersen sold 5,104 shares of the company’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $111.67, for a total transaction of $569,963.68. The disclosure for this sale can be found here. Corporate insiders own 1.63% of the company’s stock.
Institutional investors have recently modified their holdings of the business. CIBC Asset Management Inc bought a new stake in PS Business Parks during the third quarter worth about $206,000. Meadow Creek Investment Management LLC grew its stake in PS Business Parks by 32.8% during the fourth 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 during the last quarter. Cubist Systematic Strategies LLC bought a new stake in PS Business Parks during the third quarter worth about $264,000. Algert Global LLC bought a new stake in PS Business Parks during the third quarter worth about $372,000. Finally, Schroder Investment Management Group grew its stake in PS Business Parks by 363.6% during the third quarter. Schroder Investment Management Group now owns 3,162 shares of the real estate investment trust’s stock worth $422,000 after buying an additional 2,480 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.
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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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