Shares of PS Business Parks Inc (NYSE:PSB) have received a consensus broker rating score of 3.50 (Sell) from the four analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell recommendation and three have issued a hold recommendation on the company.
Brokers have set a 12-month consensus price objective of $155.67 for the company and are forecasting that the company will post $1.68 EPS for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 107 out of 256 based on the ratings given to its competitors.
Separately, Citigroup lifted their price target on shares of PVH from $120.00 to $128.00 and gave the company a “neutral” rating in a research report on Friday, March 29th.
Shares of NYSE PSB traded down $0.01 during midday trading on Wednesday, reaching $174.13. The company’s stock had a trading volume of 100,252 shares, compared to its average volume of 137,130. PS Business Parks has a fifty-two week low of $120.21 and a fifty-two week high of $178.60. The stock’s 50 day moving average price is $170.07. The firm has a market cap of $4.74 billion, a P/E ratio of 26.91, a P/E/G ratio of 5.15 and a beta of 0.45.
PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.29. PS Business Parks had a net margin of 46.31% and a return on equity of 18.97%. The company had revenue of $107.83 million during the quarter, compared to the consensus estimate of $103.07 million. On average, equities research analysts anticipate that PS Business Parks will post 6.71 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th were given a $1.05 dividend. The ex-dividend date was Tuesday, June 11th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.41%. PS Business Parks’s payout ratio is 64.91%.
In related news, COO John W. Petersen sold 600 shares of PS Business Parks stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $169.04, for a total value of $101,424.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Trenton Groves sold 2,000 shares of PS Business Parks stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $160.01, for a total transaction of $320,020.00. The disclosure for this sale can be found here. Insiders sold 8,513 shares of company stock worth $1,372,120 over the last three months. 1.50% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC bought a new position in PS Business Parks in the second quarter valued at approximately $205,000. Mackay Shields LLC bought a new position in PS Business Parks in the fourth quarter valued at approximately $210,000. Menta Capital LLC bought a new position in PS Business Parks in the fourth quarter valued at approximately $217,000. Magnus Financial Group LLC bought a new position in PS Business Parks in the fourth quarter valued at approximately $238,000. Finally, Coldstream Capital Management Inc. increased its stake in PS Business Parks by 4.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,846 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 82 shares during the last quarter. 71.47% of the stock is currently owned by institutional investors and hedge funds.
PS Business Parks Company Profile
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 December 31, 2018, the Company wholly owned 28.2 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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