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Last $76.99 USD
Change Today +0.56 / 0.73%
Volume 126.5K
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

ps business parks inc/ca (PSB) Snapshot

Open
$76.68
Previous Close
$76.43
Day High
$77.89
Day Low
$76.62
52 Week High
01/27/15 - $88.92
52 Week Low
06/15/15 - $71.14
Market Cap
2.1B
Average Volume 10 Days
106.3K
EPS TTM
$4.60
Shares Outstanding
26.9M
EX-Date
09/11/15
P/E TM
16.7x
Dividend
$2.40
Dividend Yield
6.17%
Current Stock Chart for PS BUSINESS PARKS INC/CA (PSB)

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ps business parks inc/ca (PSB) Details

PS Business Parks, Inc., a real estate investment trust (REIT), together with its subsidiaries, engages in the acquisition, development, ownership, and operation of commercial properties primarily multi-tenant flex, office, and industrial space. As of December 31, 2007, the company owned and operated approximately 19.6 million rentable square feet of commercial space located in Arizona, California, Florida, Maryland, Oregon, Texas, Virginia, and Washington, as well as managed approximately 1.4 million rentable square feet. It also owned approximately 6.4 acres of land in Northern Virginia; 14.9 acres in Portland, Oregon; and 10.0 acres in Dallas, Texas for the development of commercial properties. PS Business Parks has elected to be taxed as a REIT under the Internal Revenue Code and would not be subject to federal income tax to the extent it distributes at least 90% of its REIT taxable income to its shareholders. The company was founded in 1983. It was formerly known as Public Storage Properties XI, Inc. and changed its name to PS Business Parks, Inc. in 1998. The company is based in Glendale, California.

168 Employees
Last Reported Date: 02/20/15
Founded in 1983

ps business parks inc/ca (PSB) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $568.3K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $275.8K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $355.8K
Chief Administrative Officer and Executive Vi...
Total Annual Compensation: $325.7K
Compensation as of Fiscal Year 2014.

ps business parks inc/ca (PSB) Key Developments

PS Business Parks Inc. Declares Quarterly Dividend on Common and Preferred Shares, Payable on September 30, 2015

On July 28, 2015, the Board of Directors of PS Business Parks Inc. declared a quarterly dividend of $0.60 per common share, an increase of 20.0%, from $0.50 per common share. Distributions  were also  declared on  the various  series of  depositary shares,  each representing  1/1,000 of a  share of preferred  stock listed as: Series R preferred stock with dividend rate of 6.875% of $0.429688; Series S preferred stock with dividend rate of 6.450% of $0.403125; Series T preferred stock with dividend rate of 6.000% of $0.375000; Series U preferred stock with dividend rate of 5.750% of $0.359375; and Series V preferred stock with dividend rate of 5.700% against $0.356250. Distributions are payable on September 30, 2015 to shareholders of record on September 15, 2015.

PS Business Parks Inc. Reports Un-Audited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

PS Business Parks Inc. reported un-audited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total rental income was $91,970,000 against $86,562,000 a year ago. Total net operating income was $63,119,000 against $58,676,000 a year ago. Net income was $29,309,000 against $27,650,000 a year ago. Total operating revenues were $93,081,000 against $94,151,000 a year ago. Total net income allocable to company was $29,309,000 or $0.41 basic and diluted per share against $27,650,000 or $0.36 diluted per share a year ago. FFO allocable to common and dilutive shares was $41,212,000 or $1.20 per share against $40,823,000 or $1.19 per share a year ago. The three month increase in FFO was primarily the result of a $4.4 million increase in net operating income resulting from both the Same Park and Non-Same Park portfolios. These increases were partially offset by a decrease in NOI from assets sold. The increase in net income was primarily the result of a decrease in depreciation of $1.3 million. For the six months, the company reported total rental income was $182,897,000 against $174,533,000 a year ago. Total net operating income was $123,644,000 against $116,487,000 a year ago. Net income was $69,664,000 against $55,451,000 a year ago. Total operating revenues were $185,543,000 against $189,638,000 a year ago. Total net income allocable to company was $69,664,000 or $1.14 basic and diluted per share against $55,451,000 or $0.73 diluted per share a year ago. FFO allocable to common and dilutive shares was $80,191,000 or $2.33 per share against $81,943,000 or $2.39 per share a year ago. The six month decrease in FFO was due to a decrease in NOI from assets sold partially offset by higher NOI from both the Same Park and Non-Same Park portfolios.

PS Business Parks Inc.(NYSE:PSB.PRV) dropped from S&P Preferred Stock Index

PS Business Parks Inc.(NYSE:PSB.PRV) dropped from S&P Preferred Stock Index

 

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Industry Analysis

PSB

Industry Average

Valuation PSB Industry Range
Price/Earnings 16.6x
Price/Sales 5.5x
Price/Book 2.8x
Price/Cash Flow 7.1x
TEV/Sales 1.1x
 | 

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