PS Business Parks (PSB) Scheduled to Post Earnings on Monday

PS Business Parks (NYSE:PSB – Get Rating) will be issuing its quarterly earnings data after the market closes on Monday, May 2nd. Analysts expect the company to announce earnings of $1.84 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

PS Business Parks stock opened at $167.67 on Monday. The firm has a market cap of $4.63 billion, a PE ratio of 11.80 and a beta of 0.58. PS Business Parks has a 52-week low of $147.02 and a 52-week high of $189.23. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $162.67 and its two-hundred day moving average is $170.48.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Wednesday, March 16th were issued a dividend of $1.05 per share. The ex-dividend date was Tuesday, March 15th. This represents a $4.20 dividend on an annualized basis and a yield of 2.50%. PS Business Parks’s dividend payout ratio (DPR) is presently 29.56%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vident Investment Advisory LLC raised its holdings in shares of PS Business Parks by 3.5% in the 4th quarter. Vident Investment Advisory LLC now owns 14,171 shares of the real estate investment trust’s stock valued at $2,611,000 after purchasing an additional 483 shares in the last quarter. California State Teachers Retirement System raised its stake in PS Business Parks by 2.1% during the 4th quarter. California State Teachers Retirement System now owns 28,380 shares of the real estate investment trust’s stock worth $5,227,000 after acquiring an additional 590 shares in the last quarter. Comerica Bank raised its stake in PS Business Parks by 7.2% during the 4th quarter. Comerica Bank now owns 9,785 shares of the real estate investment trust’s stock worth $1,601,000 after acquiring an additional 659 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in PS Business Parks by 2.1% during the 4th quarter. Parametric Portfolio Associates LLC now owns 37,275 shares of the real estate investment trust’s stock worth $6,865,000 after acquiring an additional 779 shares in the last quarter. Finally, Toroso Investments LLC acquired a new stake in PS Business Parks during the 4th quarter worth $203,000. Institutional investors and hedge funds own 70.74% of the company’s stock.

PSB has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of PS Business Parks from $190.00 to $170.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 15th. Zacks Investment Research lowered shares of PS Business Parks from a “hold” rating to a “sell” rating and set a $177.00 price objective on the stock. in a report on Tuesday, April 12th. Finally, StockNews.com lowered shares of PS Business Parks from a “strong-buy” rating to a “buy” rating in a report on Friday, March 25th.

PS Business Parks Company Profile (Get Rating)

PS Business Parks, Inc, a member of the S&P MidCap 400, is a REIT that acquires, develops, owns, and operates commercial properties, primarily multi-tenant industrial, flex, and office space. As of September 30, 2020, the Company wholly owned 27.5 million rentable square feet with approximately 5,000 commercial customers in six states.

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