PS Business Parks, Inc. (NYSE:PSB) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday, August 8th.
Separately, Zacks Investment Research downgraded shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Monday, May 29th.
PS Business Parks (NYSE PSB) traded down 0.58% on Tuesday, hitting $130.96. 77,088 shares of the stock traded hands. The company’s 50 day moving average price is $131.30 and its 200-day moving average price is $123.04. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 42.77 and a beta of 0.59. PS Business Parks has a 52-week low of $102.32 and a 52-week high of $136.27.
PS Business Parks (NYSE:PSB) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.88. The firm had revenue of $99.80 million during the quarter, compared to analysts’ expectations of $100.81 million. PS Business Parks had a net margin of 39.05% and a return on equity of 16.50%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 earnings per share. On average, analysts forecast that PS Business Parks will post $3.12 earnings per share for the current fiscal year.
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In other PS Business Parks news, insider John W. Petersen sold 3,500 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $129.83, for a total value of $454,405.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.63% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Flinton Capital Management LLC boosted its position in PS Business Parks by 85.7% in the second quarter. Flinton Capital Management LLC now owns 1,040 shares of the real estate investment trust’s stock worth $138,000 after buying an additional 480 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PS Business Parks by 9.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,228 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 104 shares during the period. Daiwa Securities Group Inc. boosted its position in PS Business Parks by 25.0% in the first quarter. Daiwa Securities Group Inc. now owns 1,500 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 300 shares during the period. Ameritas Investment Partners Inc. bought a new position in PS Business Parks during the first quarter worth $195,000. Finally, 1st Global Advisors Inc. boosted its stake in shares of PS Business Parks by 1.1% in the first quarter. 1st Global Advisors Inc. now owns 1,832 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 20 shares during the last quarter. 71.40% of the stock is currently owned by institutional investors.
About PS Business Parks
PS Business Parks, Inc is a self-advised and self-managed real estate investment trust (REIT). The Company owns, operates and develops commercial properties, primarily multi-tenant flex, office and industrial parks. It focuses on owning concentrated business parks. PS Business Parks, L.P. (the Operating Partnership) is a California limited partnership, which owns directly or indirectly substantially all of its assets and through, which the Company conducts substantially all of its business.
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