Media coverage about PS Business Parks (NYSE:PSB) has been trending positive on Tuesday, according to Alpha One. The research group, a unit of Accern, ranks the sentiment of media coverage by monitoring more than twenty million blog and news sources in real-time. Alpha One ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. PS Business Parks earned a coverage optimism score of 0.35 on Alpha One’s scale. Alpha One also gave media stories about the real estate investment trust an impact score of 22 out of 100, indicating that recent media coverage is very unlikely to have an impact on the stock’s share price in the immediate future.
Separately, Zacks Investment Research raised PS Business Parks from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Friday, April 7th.
Shares of PS Business Parks (NYSE:PSB) traded up 1.02% during mid-day trading on Tuesday, reaching $124.28. The company had a trading volume of 58,617 shares. PS Business Parks has a 12-month low of $97.14 and a 12-month high of $125.83. The firm has a 50-day moving average of $121.15 and a 200-day moving average of $115.52. The company has a market capitalization of $3.38 billion, a P/E ratio of 45.36 and a beta of 0.58.
PS Business Parks (NYSE:PSB) last posted its earnings results on Tuesday, April 25th. The real estate investment trust reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.41 by $0.11. The company had revenue of $100.19 million during the quarter, compared to analyst estimates of $95.85 million. PS Business Parks had a net margin of 32.48% and a return on equity of 13.33%. During the same period in the prior year, the business posted $1.26 earnings per share. On average, equities analysts anticipate that PS Business Parks will post $3.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Wednesday, June 14th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Monday, June 12th. PS Business Parks’s payout ratio is currently 125.52%.
In related news, Director James H. Kropp sold 1,768 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $124.23, for a total value of $219,638.64. Following the completion of the transaction, the director now directly owns 10,902 shares of the company’s stock, valued at $1,354,355.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John W. Petersen sold 3,000 shares of the stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $121.59, for a total transaction of $364,770.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,612 shares of company stock valued at $2,918,437. 1.70% of the stock is owned by insiders.
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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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