PS Business Parks Inc(NYSE:PSB) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 26, 2016. Company reported revenue of $96.22M. Analysts estimated a revenue of $95.00M. Earnings per share were $1.36. Analysts had estimated an EPS of $1.32.
In a different note, On Jul 7, 2016, Citigroup said it Maintains its rating on PS Business Parks Inc. In the research note, the firm Raises the price-target to $93.00 per share. The shares have been rated ‘Neutral’ by the firm.
PS Business Parks Inc (PSB) made into the market gainers list on Fridays trading session with the shares advancing 0.35% or 0.39 points. Due to strong positive momentum, the stock ended at $110.89, which is also near the day’s high of $112.81. The stock began the session at $110.64 and the volume stood at 2,29,395 shares. The 52-week high of the shares is $117 and the 52 week low is $70.15. The company has a current market capitalization of $3,003 M and it has 2,70,76,500 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Mar 15, 2016, Edward A Stokx (EVP, CFO & Secretary) sold 6,123 shares at $96.42 per share price.Also, On Mar 4, 2016, John W Petersen (EXECUTIVE VICE PRESIDENT & COO) sold 3,500 shares at $94.91 per share price.On Dec 15, 2015, Joseph D Jr Russell (CEO) sold 1,000 shares at $85.24 per share price, according to the Form-4 filing with the securities and exchange commission.
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. It owns and operates around 28.6 million rentable square feet of commercial space comprising around 103 business parks concentrated primarily in states such as California Florida Maryland Texas Virginia and Washington. It owns a range of properties which include Charcot Business Park II McNeil 1 Springlake Business Center II Arapaho Business Park 9 and MICC – Center 23 among others. It owns around 15.1 million square feet of flex space and 8.8 million square feet of industrial space. The Company also manages around 1.1 million rentable square feet on behalf of Public Storage (PS).