PS Business Parks, Inc. (PSB) Downgraded to “Hold” at BidaskClub

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.

TRADEMARK VIOLATION NOTICE: This news story was first reported by BNB Daily and is the property of of BNB Daily. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this news story can be read at https://www.baseball-news-blog.com/2017/08/19/ps-business-parks-inc-psb-cut-to-hold-at-bidaskclub-updated.html.

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.

Receive News & Ratings for PS Business Parks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PS Business Parks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply