PS Business Parks (NYSE:PSB) had its price objective lowered by Citigroup from $111.00 to $107.00 in a report published on Tuesday. The firm currently has a sell rating on the real estate investment trust’s stock.

A number of other research firms have also commented on PSB. JPMorgan Chase decreased their price target on PS Business Parks from $135.00 to $123.00 and set an underweight rating on the stock in a research report on Wednesday, February 14th. Zacks Investment Research upgraded PS Business Parks from a sell rating to a hold rating in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $127.33.

NYSE PSB opened at $117.02 on Tuesday. The company has a market cap of $3,104.03, a P/E ratio of 19.11 and a beta of 0.47. PS Business Parks has a one year low of $107.91 and a one year high of $137.60.

PS Business Parks (NYSE:PSB) last released its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.92. The business had revenue of $103.75 million for the quarter, compared to analyst estimates of $101.77 million. PS Business Parks had a return on equity of 18.70% and a net margin of 43.04%. PS Business Parks’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 EPS. analysts anticipate that PS Business Parks will post 6.28 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Investors of record on Wednesday, June 13th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Tuesday, June 12th. This represents a $3.40 dividend on an annualized basis and a yield of 2.91%. PS Business Parks’s dividend payout ratio (DPR) is presently 55.46%.

In other PS Business Parks news, insider John W. Petersen sold 5,104 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $111.67, for a total transaction of $569,963.68. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.63% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in PS Business Parks by 4.1% during the 4th quarter. BlackRock Inc. now owns 3,468,381 shares of the real estate investment trust’s stock worth $433,859,000 after buying an additional 137,466 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in PS Business Parks by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 310,123 shares of the real estate investment trust’s stock worth $41,401,000 after buying an additional 9,725 shares in the last quarter. Teachers Advisors LLC lifted its holdings in PS Business Parks by 1.3% during the 4th quarter. Teachers Advisors LLC now owns 206,772 shares of the real estate investment trust’s stock worth $25,865,000 after buying an additional 2,652 shares in the last quarter. American Century Companies Inc. lifted its holdings in PS Business Parks by 32.9% during the 4th quarter. American Century Companies Inc. now owns 109,404 shares of the real estate investment trust’s stock worth $13,685,000 after buying an additional 27,084 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in PS Business Parks by 17.8% during the 4th quarter. Wells Fargo & Company MN now owns 108,073 shares of the real estate investment trust’s stock worth $13,518,000 after buying an additional 16,323 shares in the last quarter. 71.45% of the stock is currently owned by hedge funds and other institutional investors.

PS Business Parks Company Profile

PS Business Parks, Inc, a member of the S&P SmallCap 600, is a real estate investment trust (?REIT?) that acquires, develops, owns and operates commercial properties, primarily multi-tenant flex, office and industrial space. The Company defines ?flex? space as buildings that are configured with a combination of office and warehouse space and can be designed to fit a number of uses (including office, assembly, showroom, laboratory, light manufacturing and warehouse space).

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