Today’s Stock On Watch: Time to Buy PS Business Parks Inc After Today’s Significant Decline?

Today's Stock On Watch: Time to Buy PS Business Parks Inc After Today's Significant Decline?

The stock of PS Business Parks Inc (NYSE:PSB) is a huge mover today! The stock decreased 3.17% or $3.52 on October 5, hitting $107.43. PS Business Parks Inc (NYSE:PSB) has risen 18.50% since March 2, 2016 and is uptrending. It has outperformed by 10.24% the S&P500.
The move comes after 6 months negative chart setup for the $2.90B company. It was reported on Oct, 5 by Barchart.com. We have $102.06 PT which if reached, will make NYSE:PSB worth $145.00 million less.

Analysts await PS Business Parks Inc (NYSE:PSB) to report earnings on October, 25. They expect $1.38 earnings per share, up 15.00% or $0.18 from last year’s $1.2 per share. PSB’s profit will be $37.25M for 19.46 P/E if the $1.38 EPS becomes a reality. After $1.36 actual earnings per share reported by PS Business Parks Inc for the previous quarter, Wall Street now forecasts 1.47% EPS growth.

According to Zacks Investment Research, “PS Business Parks is a self-advised and self-managed equity real estate investment trust specializing in the ownership, management and acquisition of business parks containing office flex space. The company has interests in a number of commercial properties located in the United States, primarily California, Texas, Oregon and Virginia. (Press Release)”

Insitutional Activity: The institutional sentiment increased to 1.75 in Q2 2016. Its up 0.09, from 1.66 in 2016Q1. The ratio is positive, as 8 funds sold all PS Business Parks Inc shares owned while 48 reduced positions. 25 funds bought stakes while 73 increased positions. They now own 19.35 million shares or 2.46% less from 19.84 million shares in 2016Q1.
Kbc Group Nv holds 0.02% or 10,051 shares in its portfolio. Hillsdale Inc accumulated 0.12% or 4,000 shares. State Board Of Administration Of Florida Retirement owns 11,370 shares or 0% of their US portfolio. Citadel Advisors Ltd Liability Com owns 34,228 shares or 0% of their US portfolio. Eii Mngmt Incorporated reported 21,900 shares or 0.68% of all its holdings. Moreover, Teachers Retirement System Of The State Of Kentucky has 0.01% invested in PS Business Parks Inc (NYSE:PSB) for 8,000 shares. Smithfield Tru owns 2,245 shares or 0.04% of their US portfolio. Royal Bank & Trust Of Canada has invested 0% of its portfolio in PS Business Parks Inc (NYSE:PSB). Voya Investment Mngmt Ltd Liability Co, a Georgia-based fund reported 27,082 shares. Clifford Swan Counsel Ltd accumulated 0.04% or 4,854 shares. Renaissance Lc, a New York-based fund reported 286,400 shares. Pinebridge Ltd Partnership owns 2,473 shares or 0.01% of their US portfolio. Blackrock Ltd Liability owns 82,509 shares or 0.01% of their US portfolio. Moreover, Jacobs Levy Equity Mngmt has 0.04% invested in PS Business Parks Inc (NYSE:PSB) for 15,940 shares. Independent Port Consultants Inc has 2,095 shares for 0.07% of their US portfolio.

Insider Transactions: Since August 3, 2016, the stock had 0 buys, and 3 insider sales for $728,945 net activity. The insider RUSSELL JOSEPH D JR sold 3,000 shares worth $329,223. KROPP JAMES H also sold $182,814 worth of PS Business Parks Inc (NYSE:PSB) on Wednesday, August 3.

More recent PS Business Parks Inc (NYSE:PSB) news were published by: Businesswire.com which released: “PS Business Parks, Inc. to Release Third Quarter 2016 Earnings and Host …” on September 29, 2016. Also Businesswire.com published the news titled: “PS Business Parks, Inc. Announces Tax Treatment of 2015 Dividends” on January 15, 2016. Businesswire.com‘s news article titled: “PS Business Parks, Inc. Announces Promotion of Maria R. Hawthorne to President” with publication date: August 24, 2015 was also an interesting one.

PSB Company Profile

PS Business Parks, Inc., incorporated on June 12, 1990, is a self-advised and self-managed real estate investment trust (REIT). The Firm owns, operates, acquires and develops commercial properties, primarily multi-tenant flex, office and industrial parks. The Firm 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. The Firm owns approximately 77.8% of the common partnership units in the Operating Partnership. The remaining common partnership units are owned by Public Storage. The Firm owns and operates approximately 30 million rentable square feet of commercial space, comprising approximately 100 business parks in California, Texas, Virginia, Florida, Maryland and Washington. The Firm also manages approximately 813,000 million rentable square feet on behalf of Public Storage.

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