Shares of PS Business Parks Inc. (NYSE:PSB) reached a new 52-week high during trading on Tuesday . The stock traded as high as $109.16 and last traded at $107.89, with a volume of 76,993 shares changing hands. The stock had previously closed at $105.76.

Separately, Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research note on Wednesday, May 4th.

The company has a market capitalization of $2.91 billion and a PE ratio of 46.18. The company’s 50 day moving average is $102.07 and its 200-day moving average is $95.61.

PS Business Parks (NYSE:PSB) last released its quarterly earnings data on Tuesday, April 26th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. During the same period last year, the business earned $1.13 earnings per share. The company earned $95.80 million during the quarter, compared to analysts’ expectations of $95 million. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts predict that PS Business Parks Inc. will post $5.38 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Monday, June 13th.

Several hedge funds have made changes to their positions in the company. Nationwide Fund Advisors raised its stake in shares of PS Business Parks by 0.6% in the fourth quarter. Nationwide Fund Advisors now owns 18,910 shares of the company’s stock worth $1,653,000 after buying an additional 119 shares during the last quarter. Comerica Bank raised its stake in shares of PS Business Parks by 0.9% in the fourth quarter. Comerica Bank now owns 19,803 shares of the company’s stock worth $1,686,000 after buying an additional 173 shares during the last quarter. Strs Ohio raised its stake in shares of PS Business Parks by 0.8% in the fourth quarter. Strs Ohio now owns 38,254 shares of the company’s stock worth $3,344,000 after buying an additional 291 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of PS Business Parks by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 36,131 shares of the company’s stock worth $3,159,000 after buying an additional 628 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of PS Business Parks by 2.4% in the fourth quarter. Rhumbline Advisers now owns 44,974 shares of the company’s stock worth $3,932,000 after buying an additional 1,060 shares during the last quarter.

PS Business Parks, Inc (PSB) is a self-advised and self-managed real estate investment trust. The Company owns, operates, acquires and develops commercial properties, primarily multi-tenant flex, office and industrial parks. PS Business Parks, L.P. is a California limited partnership, which owns directly or indirectly all of its assets and through, which the Company conducts its businesses.

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