Shares of PS Business Parks Inc (NYSE:PSB) have been assigned a consensus broker rating score of 3.50 (Sell) from the four brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong sell rating and three have given a hold rating to the company.
Analysts have set a one year consensus price target of $177.67 for the company, according to Zacks. Zacks has also given PS Business Parks an industry rank of 95 out of 255 based on the ratings given to its competitors.
A number of brokerages recently weighed in on PSB. Citigroup upgraded shares of PS Business Parks from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $142.00 to $180.00 in a report on Monday, September 23rd. Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Friday, August 16th. Wells Fargo & Co cut shares of PS Business Parks from a “market perform” rating to an “underperform” rating and set a $175.00 price objective for the company. in a report on Tuesday. They noted that the move was a valuation call. Finally, ValuEngine cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new position in PS Business Parks during the 2nd quarter worth approximately $34,000. Quantamental Technologies LLC acquired a new position in PS Business Parks during the 2nd quarter worth approximately $50,000. Point72 Hong Kong Ltd acquired a new position in PS Business Parks during the 2nd quarter worth approximately $71,000. Robecosam AG grew its holdings in PS Business Parks by 7.3% during the 3rd quarter. Robecosam AG now owns 805 shares of the real estate investment trust’s stock worth $147,000 after acquiring an additional 55 shares in the last quarter. Finally, LS Investment Advisors LLC grew its holdings in PS Business Parks by 63.6% during the 2nd quarter. LS Investment Advisors LLC now owns 972 shares of the real estate investment trust’s stock worth $164,000 after acquiring an additional 378 shares in the last quarter. Institutional investors own 70.53% of the company’s stock.
Shares of PS Business Parks stock traded down $3.72 on Friday, reaching $166.70. The company had a trading volume of 103,983 shares, compared to its average volume of 120,309. The firm’s 50 day moving average price is $176.97 and its two-hundred day moving average price is $175.86. The firm has a market cap of $4.80 billion, a PE ratio of 25.77, a PEG ratio of 5.20 and a beta of 0.41. PS Business Parks has a 52-week low of $125.52 and a 52-week high of $192.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.48 and a current ratio of 0.48.
PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.15. The business had revenue of $108.06 million for the quarter, compared to the consensus estimate of $106.77 million. PS Business Parks had a net margin of 35.61% and a return on equity of 14.96%. As a group, sell-side analysts predict that PS Business Parks will post 6.74 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, December 12th. PS Business Parks’s dividend payout ratio (DPR) is currently 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 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.
Further Reading: What causes a stock to be most active?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PS Business Parks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PS Business Parks and related companies with MarketBeat.com's FREE daily email newsletter.