Shares of PS Business Parks Inc. (NYSE:PSB) reached a new 52-week high during trading on Tuesday . The stock traded as high as $111.02 and last traded at $110.81, with a volume of 35,213 shares trading hands. The stock had previously closed at $110.01.

Several analysts have commented on the company. Citigroup Inc. lifted their price target on PS Business Parks from $93.00 to $107.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Zacks Investment Research upgraded PS Business Parks from a “hold” rating to a “buy” rating and set a $109.00 price target for the company in a report on Wednesday, May 4th.

The company’s 50 day moving average is $104.73 and its 200-day moving average is $96.95. The firm has a market capitalization of $3.01 billion and a P/E ratio of 47.65.

PS Business Parks (NYSE:PSB) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.01. The business had revenue of $95.80 million for the quarter, compared to analyst estimates of $95 million. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 earnings per share. On average, equities analysts forecast that PS Business Parks Inc. will post $5.38 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, June 13th. This represents a $3.00 dividend on an annualized basis and a yield of 2.70%.

Other hedge funds have modified their holdings of the company. Matarin Capital Management LLC acquired a new stake in shares of PS Business Parks during the fourth quarter worth $7,972,000. Dean Investment Associates LLC boosted its position in PS Business Parks by 11.3% in the fourth quarter. Dean Investment Associates LLC now owns 38,503 shares of the company’s stock worth $3,366,000 after buying an additional 3,908 shares during the period. Principal Financial Group Inc. boosted its position in PS Business Parks by 5.8% in the fourth quarter. Principal Financial Group Inc. now owns 133,200 shares of the company’s stock worth $11,646,000 after buying an additional 7,285 shares during the period. Vanguard Group Inc. boosted its position in PS Business Parks by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 2,943,442 shares of the company’s stock worth $257,345,000 after buying an additional 119,244 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in PS Business Parks by 187.2% in the fourth quarter. Teacher Retirement System of Texas now owns 50,553 shares of the company’s stock worth $4,420,000 after buying an additional 32,952 shares during the period.

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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