PS Business Parks (NYSE:PSB) had its price target hoisted by JPMorgan Chase & Co. from $121.00 to $122.00 in a report published on Tuesday. They currently have an underweight rating on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on PSB. Zacks Investment Research upgraded shares of PS Business Parks from a sell rating to a hold rating in a report on Tuesday, February 27th. Citigroup lowered their target price on shares of PS Business Parks from $111.00 to $107.00 and set a sell rating for the company in a report on Tuesday, April 24th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company has an average rating of Hold and a consensus target price of $127.00.

NYSE PSB opened at $122.56 on Tuesday. PS Business Parks has a 52 week low of $107.91 and a 52 week high of $137.60. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 20.07 and a beta of 0.47.

PS Business Parks (NYSE:PSB) last posted its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported $1.59 EPS for the quarter, topping the consensus estimate of $0.67 by $0.92. PS Business Parks had a net margin of 43.04% and a return on equity of 18.57%. The company had revenue of $103.75 million during the quarter, compared to analysts’ expectations of $101.77 million. During the same quarter in the previous year, the business posted $0.97 EPS. The firm’s revenue was up 3.7% on a year-over-year basis. equities analysts forecast that PS Business Parks will post 6.32 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Stockholders of record on Wednesday, June 13th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Tuesday, June 12th. PS Business Parks’s payout ratio is 55.46%.

In other news, Director James H. Kropp sold 1,768 shares of the company’s stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $117.91, for a total value of $208,464.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John W. Petersen sold 5,104 shares of the 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 18,031 shares of company stock valued at $2,087,784. Company insiders own 1.63% of the company’s stock.

A number of large investors have recently modified their holdings of PSB. Millennium Management LLC boosted its stake in PS Business Parks by 544.3% during the 1st quarter. Millennium Management LLC now owns 179,992 shares of the real estate investment trust’s stock worth $20,346,000 after purchasing an additional 152,058 shares during the period. BlackRock Inc. boosted its stake 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 purchasing an additional 137,466 shares during the period. Echo Street Capital Management LLC boosted its stake in PS Business Parks by 92.8% during the 1st quarter. Echo Street Capital Management LLC now owns 164,805 shares of the real estate investment trust’s stock worth $18,630,000 after purchasing an additional 79,310 shares during the period. Dean Investment Associates LLC acquired a new stake in PS Business Parks during the 1st quarter worth $5,307,000. Finally, Weil Company Inc. acquired a new stake in PS Business Parks during the 4th quarter worth $5,299,000. Hedge funds and other institutional investors own 70.94% of the company’s stock.

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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