Somewhat Positive Press Coverage Somewhat Unlikely to Affect PS Business Parks (PSB) Share Price
Media coverage about PS Business Parks (NYSE:PSB) has been trending somewhat positive this week, according to Accern. The research firm rates the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. PS Business Parks earned a news sentiment score of 0.08 on Accern’s scale. Accern also assigned headlines about the real estate investment trust an impact score of 45.7035898852598 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the headlines that may have effected Accern’s rankings:
- Brokerages Set $135.00 Price Target for PS Business Parks, Inc. (PSB) (americanbankingnews.com)
- PS Business Parks, Inc. (PSB) Upgraded to “Buy” by Zacks Investment Research (americanbankingnews.com)
- Zacks Investment Research Lowers PS Business Parks, Inc. (PSB) to Hold (americanbankingnews.com)
- Reviewing PS Business Parks (PSB) and Its Peers (americanbankingnews.com)
- PS Business Parks (PSB) & Excel Trust (EXL) Head to Head Analysis (americanbankingnews.com)
PS Business Parks (NYSE:PSB) opened at 136.56 on Friday. The firm has a 50-day moving average price of $133.58 and a 200-day moving average price of $126.19. PS Business Parks has a 52 week low of $102.32 and a 52 week high of $137.60. The firm has a market capitalization of $3.72 billion, a P/E ratio of 44.60 and a beta of 0.60.
PS Business Parks (NYSE:PSB) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.88. PS Business Parks had a net margin of 39.05% and a return on equity of 16.50%. The firm had revenue of $99.80 million during the quarter, compared to analyst estimates of $100.81 million. During the same quarter in the prior year, the business posted $1.36 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts forecast that PS Business Parks will post $3.13 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Wednesday, September 13th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.49%. The ex-dividend date is Tuesday, September 12th. PS Business Parks’s dividend payout ratio (DPR) is presently 111.11%.
PSB has been the subject of a number of research reports. Zacks Investment Research downgraded PS Business Parks from a “buy” rating to a “hold” rating in a research note on Monday, September 4th. KeyCorp restated a “hold” rating on shares of PS Business Parks in a research note on Friday, August 25th. Finally, BidaskClub downgraded PS Business Parks from a “buy” rating to a “hold” rating in a research note on Monday, July 24th.
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In other PS Business Parks news, Director Jennifer Holden Dunbar sold 4,000 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $130.69, for a total transaction of $522,760.00. Following the sale, the director now directly owns 4,000 shares of the company’s stock, valued at $522,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph D. Russell, Jr. sold 800 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $133.00, for a total transaction of $106,400.00. The disclosure for this sale can be found here. Insiders sold 32,186 shares of company stock valued at $4,319,064 in the last three months. Company insiders own 1.63% of the company’s stock.
PS Business Parks Company Profile
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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