PS Business Parks Inc. (PSB) Issues Earnings Results, Beats Estimates By $0.04 EPS

PS Business Parks Inc. (NYSE:PSB) announced its quarterly earnings data on Tuesday. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.04. The firm earned $96.20 million during the quarter, compared to the consensus estimate of $95 million.

PSB has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of PS Business Parks from a “buy” rating to a “hold” rating in a research note on Tuesday, April 26th. Citigroup Inc. lifted their price objective on shares of PS Business Parks from $93.00 to $107.00 and gave the company a “neutral” rating in a research note on Thursday, July 7th.

PS Business Parks (NYSE:PSB) traded up 0.22% during mid-day trading on Tuesday, hitting $111.14. 62,125 shares of the company’s stock were exchanged. The stock has a market cap of $3.01 billion and a PE ratio of 47.70. The stock’s 50 day moving average price is $106.03 and its 200-day moving average price is $97.67. PS Business Parks has a 12 month low of $70.15 and a 12 month high of $113.91.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were paid a dividend of $0.75 per share. The ex-dividend date was Monday, June 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.70%.

PS Business Parks, Inc (PSB) is a self-advised and self-managed real estate investment trust. The Company owns, operates, acquires and develops commercial properties, primarily multi-tenant flex, office and industrial parks. PS Business Parks, L.P. is a California limited partnership, which owns directly or indirectly all of its assets and through, which the Company conducts its businesses.