PS Business Parks (NYSE:PSB) Earns Hold Rating from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of PS Business Parks (NYSE:PSBGet Rating) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the real estate investment trust’s stock.

PS Business Parks Price Performance

PS Business Parks stock opened at $187.44 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.02. The firm’s 50-day simple moving average is $187.05 and its 200 day simple moving average is $175.56. PS Business Parks has a 52 week low of $149.58 and a 52 week high of $189.83. The firm has a market capitalization of $5.18 billion, a PE ratio of 11.86 and a beta of 0.43.

Institutional Investors Weigh In On PS Business Parks

A number of large investors have recently bought and sold shares of PSB. Allspring Global Investments Holdings LLC purchased a new stake in shares of PS Business Parks in the fourth quarter valued at $4,562,000. Yousif Capital Management LLC acquired a new position in shares of PS Business Parks during the 4th quarter valued at about $1,936,000. Qube Research & Technologies Ltd purchased a new position in shares of PS Business Parks during the 4th quarter worth about $649,000. Nomura Asset Management Co. Ltd. boosted its position in shares of PS Business Parks by 3.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 16,570 shares of the real estate investment trust’s stock worth $3,052,000 after acquiring an additional 570 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in PS Business Parks by 11.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,620 shares of the real estate investment trust’s stock valued at $1,219,000 after purchasing an additional 685 shares during the period. Institutional investors and hedge funds own 71.04% of the company’s stock.

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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