PS Business Parks Inc (NYSE:PSB) – Equities researchers at KeyCorp lowered their FY2020 earnings per share (EPS) estimates for shares of PS Business Parks in a research note issued on Wednesday, October 14th. KeyCorp analyst C. Mailman now anticipates that the real estate investment trust will post earnings per share of $6.60 for the year, down from their previous forecast of $6.72. KeyCorp currently has a “Underweight” rating and a $112.00 target price on the stock. KeyCorp also issued estimates for PS Business Parks’ FY2021 earnings at $6.83 EPS.

PSB has been the topic of several other research reports. Zacks Investment Research cut shares of PS Business Parks from a “hold” rating to a “sell” rating and set a $131.00 target price on the stock. in a report on Wednesday, September 9th. Citigroup boosted their price target on PS Business Parks from $134.00 to $139.00 and gave the company a “neutral” rating in a report on Thursday, August 13th.

Shares of PSB stock opened at $118.89 on Friday. PS Business Parks has a 12-month low of $102.48 and a 12-month high of $192.13. The firm’s 50 day moving average is $124.49 and its 200 day moving average is $128.59. The stock has a market capitalization of $3.27 billion, a P/E ratio of 27.02 and a beta of 0.35.

PS Business Parks (NYSE:PSB) last issued its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.36. PS Business Parks had a net margin of 44.01% and a return on equity of 18.12%.

Several large investors have recently added to or reduced their stakes in PSB. Principal Financial Group Inc. grew its position in shares of PS Business Parks by 122.3% during the second quarter. Principal Financial Group Inc. now owns 137,987 shares of the real estate investment trust’s stock worth $18,269,000 after purchasing an additional 75,911 shares in the last quarter. Green Street Investors LLC purchased a new stake in shares of PS Business Parks during the second quarter worth about $6,342,000. Balyasny Asset Management LLC purchased a new stake in shares of PS Business Parks during the first quarter worth about $6,125,000. Vanguard Group Inc. grew its position in shares of PS Business Parks by 1.1% during the second quarter. Vanguard Group Inc. now owns 3,194,613 shares of the real estate investment trust’s stock worth $422,967,000 after purchasing an additional 36,229 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of PS Business Parks by 5.4% during the second quarter. Goldman Sachs Group Inc. now owns 680,435 shares of the real estate investment trust’s stock worth $90,090,000 after purchasing an additional 35,139 shares in the last quarter. Hedge funds and other institutional investors own 71.16% of the company’s stock.

In other news, Director Joseph D. Russell, Jr. sold 1,200 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $123.71, for a total value of $148,452.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.44% of the stock is owned by company insiders.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Monday, September 14th. PS Business Parks’s dividend payout ratio (DPR) is currently 61.95%.

About PS Business Parks

PS Business Parks, Inc, a member of the S&P SmallCap 600, is a REIT that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of December 31, 2018, the Company wholly owned 28.2 million rentable square feet with approximately 5,050 commercial customers in six states and held a 95.0% interest in a 395-unit apartment complex.

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