PS Business Parks, Inc. (NYSE:PSB) Cut 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.
Separately, Zacks Investment Research upgraded shares of PS Business Parks from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Tuesday, May 30th.
Shares of PS Business Parks (NYSE:PSB) opened at 132.15 on Tuesday. The firm has a market capitalization of $3.60 billion, a P/E ratio of 43.16 and a beta of 0.59. The company has a 50-day moving average price of $131.28 and a 200 day moving average price of $121.81. PS Business Parks has a one year low of $102.32 and a one year high of $136.27.
PS Business Parks (NYSE:PSB) last released its quarterly earnings results 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 business had revenue of $99.80 million for the quarter, compared to the consensus estimate of $100.81 million. PS Business Parks had a net margin of 39.05% and a return on equity of 16.50%. PS Business Parks’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 EPS. Analysts expect that PS Business Parks will post $3.12 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This story was first posted by Daily Political and is the property of of Daily Political. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://www.dailypolitical.com/2017/08/08/ps-business-parks-inc-nysepsb-cut-to-hold-at-bidaskclub.html.
In related news, insider John W. Petersen sold 3,000 shares of PS Business Parks stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $121.59, for a total value of $364,770.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James H. Kropp sold 1,768 shares of PS Business Parks stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $124.23, for a total transaction of $219,638.64. Following the completion of the transaction, the director now owns 10,902 shares in the company, valued at approximately $1,354,355.46. The disclosure for this sale can be found here. Insiders sold a total of 10,768 shares of company stock worth $1,351,014 in the last quarter. Insiders own 1.63% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 valued at $141,000 after buying an additional 104 shares during the period. Daiwa Securities Group Inc. increased its position in shares of 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 valued at $172,000 after buying an additional 300 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of PS Business Parks during the first quarter valued at approximately $195,000. 1st Global Advisors Inc. increased its position 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 valued at $210,000 after buying an additional 20 shares during the period. Finally, Everence Capital Management Inc. purchased a new position in shares of PS Business Parks during the second quarter valued at approximately $211,000. Hedge funds and other institutional investors own 71.30% of the company’s stock.
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.