PS Business Parks Inc (PSB) Given Average Recommendation of “Sell” by Brokerages
PS Business Parks Inc (NYSE:PSB) has received an average broker rating score of 3.50 (Sell) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell rating and three have issued a hold rating on the company.
Analysts have set a one year consensus price target of $124.00 for the company and are anticipating that the company will post $1.61 EPS for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 155 out of 255 based on the ratings given to its competitors.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Wells Fargo & Co upped their target price on shares of PS Business Parks from $121.00 to $131.00 and gave the stock a “market perform” rating in a research report on Thursday, August 9th. Finally, JPMorgan Chase & Co. upgraded shares of PS Business Parks from an “underweight” rating to a “neutral” rating and set a $122.00 target price for the company in a research report on Friday, June 15th.
Several institutional investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its holdings in shares of PS Business Parks by 5.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 7,950 shares of the real estate investment trust’s stock valued at $899,000 after acquiring an additional 430 shares in the last quarter. Aperio Group LLC lifted its stake in PS Business Parks by 4.9% during the second quarter. Aperio Group LLC now owns 9,418 shares of the real estate investment trust’s stock valued at $1,210,000 after purchasing an additional 440 shares during the last quarter. Royal Bank of Canada lifted its stake in PS Business Parks by 5.4% during the first quarter. Royal Bank of Canada now owns 9,557 shares of the real estate investment trust’s stock valued at $1,080,000 after purchasing an additional 487 shares during the last quarter. Bessemer Group Inc. lifted its stake in PS Business Parks by 3.2% during the second quarter. Bessemer Group Inc. now owns 16,000 shares of the real estate investment trust’s stock valued at $2,056,000 after purchasing an additional 500 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in PS Business Parks by 0.9% during the first quarter. Asset Management One Co. Ltd. now owns 55,600 shares of the real estate investment trust’s stock valued at $6,285,000 after purchasing an additional 518 shares during the last quarter. Institutional investors and hedge funds own 71.22% of the company’s stock.
PSB traded down $1.98 on Friday, hitting $125.02. 71,111 shares of the company’s stock were exchanged, compared to its average volume of 92,880. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 3.98 and a beta of 0.47. PS Business Parks has a twelve month low of $107.91 and a twelve month high of $137.45. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.01.
PS Business Parks (NYSE:PSB) last released its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.13). The business had revenue of $101.82 million for the quarter, compared to analyst estimates of $103.05 million. PS Business Parks had a return on equity of 23.01% and a net margin of 54.22%. research analysts anticipate that PS Business Parks will post 6.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Wednesday, September 12th will be given a $1.05 dividend. This is a boost from PS Business Parks’s previous quarterly dividend of $0.85. The ex-dividend date is Tuesday, September 11th. This represents a $4.20 annualized dividend and a yield of 3.36%. PS Business Parks’s dividend payout ratio is 68.52%.
About PS Business Parks
PS Business Parks, Inc, a member of the S&P SmallCap 600, is a real estate investment trust (?REIT?) that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of June 30, 2018, the Company wholly owned 28.3 million rentable square feet with approximately 5,000 commercial customers in six states and a 95.0% interest in a 395-unit apartment complex.
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