Analysts expect PS Business Parks Inc (NYSE:PSB) to post earnings per share of $1.72 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for PS Business Parks’ earnings. The highest EPS estimate is $1.75 and the lowest is $1.69. PS Business Parks reported earnings per share of $1.64 during the same quarter last year, which would indicate a positive year over year growth rate of 4.9%. The company is expected to announce its next earnings report on Tuesday, October 22nd.
According to Zacks, analysts expect that PS Business Parks will report full-year earnings of $6.83 per share for the current financial year, with EPS estimates ranging from $6.72 to $6.92. For the next fiscal year, analysts anticipate that the company will report earnings of $6.92 per share, with EPS estimates ranging from $6.76 to $7.13. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover PS Business Parks.
PS Business Parks (NYSE:PSB) last announced its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.64). The company had revenue of $107.78 million for the quarter, compared to analyst estimates of $105.10 million. PS Business Parks had a return on equity of 14.84% and a net margin of 35.70%.
Separately, Zacks Investment Research upgraded PS Business Parks from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Friday, August 16th.
In other news, Director Joseph D. Russell, Jr. sold 1,800 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $180.68, for a total value of $325,224.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in PSB. Point72 Asset Management L.P. acquired a new stake in PS Business Parks in the second quarter valued at approximately $34,000. Quantamental Technologies LLC purchased a new position in shares of PS Business Parks during the 2nd quarter valued at $50,000. Point72 Hong Kong Ltd bought a new position in PS Business Parks in the 2nd quarter worth $71,000. LS Investment Advisors LLC boosted its holdings in PS Business Parks by 63.6% in the 2nd quarter. LS Investment Advisors LLC now owns 972 shares of the real estate investment trust’s stock worth $164,000 after buying an additional 378 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in PS Business Parks in the 2nd quarter worth $205,000. 70.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE PSB traded down $2.47 on Friday, hitting $171.53. The company had a trading volume of 1,784 shares, compared to its average volume of 97,900. PS Business Parks has a 12-month low of $120.21 and a 12-month high of $186.14. The firm has a market capitalization of $4.95 billion, a P/E ratio of 26.89, a PEG ratio of 5.29 and a beta of 0.46. The business has a 50 day moving average of $176.88 and a two-hundred day moving average of $164.19.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.45%. PS Business Parks’s dividend payout ratio 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.
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