PS Business Parks Rating Lowered to Market Perform at BMO Capital Markets (PSB)
Shares of PS Business Parks traded down 1.93% during mid-day trading on Wednesday, hitting $67.54. PS Business Parks has a 52 week low of $46.19 and a 52 week high of $69.59. The company has a market cap of $1.636 billion and a P/E ratio of 43.12.
The company last announced its quarterly results on Monday, April 30th. It reported $1.17 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.03 EPS by $0.14. The company’s quarterly revenue was up 15.2% on a year-over-year basis. On average, analysts predict that PS Business Parks will post $1.20 earnings per share next quarter.
A number of other firms have also recently commented on PSB. Analysts at Zacks downgraded shares of PS Business Parks from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, March 28th. They now have a $68.00 price target on the stock.
PS Business Parks, Inc. (PSB) is a fully integrated, self-advised and self-managed real estate investment trust (REIT) that acquires, owns, operates and develops commercial properties, primarily multi-tenant flex, office and industrial space.