Analysts Expect PS Business Parks Inc (PSB) to Post $1.66 Earnings Per Share

Shares of PS Business Parks Inc (NYSE:PSB) have been given a consensus broker rating score of 3.50 (Sell) from the four analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell recommendation and three have assigned a hold recommendation to the company.

Brokerages have set a twelve-month consensus price objective of $143.00 for the company and are expecting that the company will post $1.66 EPS for the current quarter, according to Zacks. Zacks has also given PS Business Parks an industry rank of 165 out of 255 based on the ratings given to its competitors.

Several equities analysts have recently weighed in on PSB shares. Citigroup raised their price target on PS Business Parks from $107.00 to $133.00 and gave the company a “sell” rating in a report on Friday, March 29th. Zacks Investment Research downgraded PS Business Parks from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 16th.

In other news, insider John W. Petersen sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $151.79, for a total transaction of $455,370.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph D. Russell, Jr. sold 2,500 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $156.34, for a total value of $390,850.00. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. Cigna Investments Inc. New increased its holdings in PS Business Parks by 0.7% in the 4th quarter. Cigna Investments Inc. New now owns 10,515 shares of the real estate investment trust’s stock worth $1,377,000 after buying an additional 70 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in PS Business Parks by 4.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,846 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 82 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in PS Business Parks by 0.8% in the 1st quarter. State of Alaska Department of Revenue now owns 13,265 shares of the real estate investment trust’s stock worth $2,079,000 after buying an additional 99 shares in the last quarter. Robecosam AG increased its holdings in PS Business Parks by 25.0% in the 4th quarter. Robecosam AG now owns 750 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 150 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. increased its holdings in PS Business Parks by 3.4% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 4,750 shares of the real estate investment trust’s stock worth $622,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 72.63% of the company’s stock.

PSB traded down $0.10 during trading on Wednesday, reaching $150.46. The stock had a trading volume of 101,712 shares, compared to its average volume of 151,643. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 4.59 and a beta of 0.53. PS Business Parks has a one year low of $113.01 and a one year high of $159.51.

PS Business Parks (NYSE:PSB) last posted its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.48). The firm had revenue of $104.13 million during the quarter, compared to the consensus estimate of $103.56 million. PS Business Parks had a return on equity of 22.54% and a net margin of 54.82%. On average, sell-side analysts predict that PS Business Parks will post 6.59 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were issued a dividend of $1.05 per share. The ex-dividend date was Tuesday, March 12th. This represents a $4.20 annualized dividend and a dividend yield of 2.79%. PS Business Parks’s payout ratio is presently 64.91%.

About PS Business Parks

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 September 30, 2018, the Company wholly owned 28.3 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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