PS Business Parks, Inc., a member of the S&P MidCap 400, is a REIT that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space.
Average dividend payer with questionable track record.
Share Price & News
How has PS Business Parks's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PSB.PRU has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: PSB.PRU underperformed the US REITs industry which returned 17.9% over the past year.
Return vs Market: PSB.PRU underperformed the US Market which returned 24.7% over the past year.
Price Volatility Vs. Market
How volatile is PS Business Parks's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is PS Business Parks undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: PSB.PRU ($25.25) is trading above our estimate of fair value ($18.03)
Significantly Below Fair Value: PSB.PRU is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: PSB.PRU is poor value based on its PE Ratio (43.7x) compared to the REITs industry average (37.8x).
PE vs Market: PSB.PRU is poor value based on its PE Ratio (43.7x) compared to the US market (18.9x).
Price to Earnings Growth Ratio
PEG Ratio: PSB.PRU's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: PSB.PRU is overvalued based on its PB Ratio (6.2x) compared to the US REITs industry average (2x).
How is PS Business Parks forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PSB.PRU's earnings are forecast to decline over the next 3 years (-4.2% per year).
Earnings vs Market: PSB.PRU's earnings are forecast to decline over the next 3 years (-4.2% per year).
High Growth Earnings: PSB.PRU's earnings are forecast to decline over the next 3 years.
Revenue vs Market: PSB.PRU's revenue is expected to decline over the next 3 years (-1.5% per year).
High Growth Revenue: PSB.PRU's revenue is forecast to decline over the next 3 years (-1.5% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if PSB.PRU's Return on Equity is forecast to be high in 3 years time
How has PS Business Parks performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PSB.PRU has high quality earnings.
Growing Profit Margin: PSB.PRU's current net profit margins (26.3%) are lower than last year (39.5%).
Past Earnings Growth Analysis
Earnings Trend: PSB.PRU's earnings have grown by 10.6% per year over the past 5 years.
Accelerating Growth: PSB.PRU's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: PSB.PRU had negative earnings growth (-30.7%) over the past year, making it difficult to compare to the REITs industry average (8.1%).
Return on Equity
High ROE: PSB.PRU's Return on Equity (9.9%) is considered low.
How is PS Business Parks's financial position?
Financial Position Analysis
Short Term Liabilities: PSB.PRU's short term assets ($169.0M) exceed its short term liabilities ($139.8M).
Long Term Liabilities: PSB.PRU's short term assets ($169.0M) exceed its long term liabilities ($2.5M).
Debt to Equity History and Analysis
Debt Level: PSB.PRU's debt to equity ratio (2.5%) is considered satisfactory.
Reducing Debt: PSB.PRU's debt to equity ratio has reduced from 13.1% to 2.5% over the past 5 years.
Debt Coverage: PSB.PRU's debt is well covered by operating cash flow (586.5%).
Interest Coverage: PSB.PRU earns more interest than it pays, so coverage of interest payments is not a concern.
What is PS Business Parks's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PSB.PRU's dividend (2.34%) is higher than the bottom 25% of dividend payers in the US market (1.4%).
High Dividend: PSB.PRU's dividend (2.34%) is low compared to the top 25% of dividend payers in the US market (3.66%).
Stability and Growth of Payments
Stable Dividend: PSB.PRU's dividends per share have been stable in the past 10 years.
Growing Dividend: PSB.PRU's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (70.4%), PSB.PRU's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Maria Hawthorne (59yo)
Ms. Maria R. Hawthorne has been Chief Executive Officer and Director of PS Business Parks, Inc. since July 01, 2016. Ms. Hawthorne has been President of PS Business Parks since August 24, 2015 and was its ...
CEO Compensation Analysis
Compensation vs Market: Maria's total compensation ($USD3.77M) is below average for companies of similar size in the US market ($USD6.46M).
Compensation vs Earnings: Maria's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
|Executive VP||1.17yrs||US$1.90m||no data|
|Executive VP & COO||14.92yrs||US$721.80k||0.048% $3.0m|
|Senior VP||1.17yrs||US$570.03k||0.017% $1.1m|
|Vice President of Investments||no data||no data||no data|
|Assistant Secretary||no data||no data||no data|
|Property Manager of Miami International Commerce Center||15.25yrs||no data||no data|
Experienced Management: PSB.PRU's management team is considered experienced (3.3 years average tenure).
|Presiding Independent Director||0.75yr||US$104.62k||0.051% $3.3m|
|Independent Director||6.08yrs||US$92.97k||0.0047% $300.2k|
|Independent Director||7.75yrs||US$93.02k||0.0073% $460.7k|
|Independent Director||10.75yrs||US$105.12k||0.014% $904.4k|
|Director||0.33yr||no data||no data|
|Independent Director||7.75yrs||US$102.02k||0.0044% $278.7k|
|Director||0.33yr||no data||no data|
Experienced Board: PSB.PRU's board of directors are considered experienced (6.9 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
PS Business Parks, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: PS Business Parks, Inc.
- Ticker: PSB.PRU
- Exchange: NYSE
- Founded: 1990
- Industry: Diversified REITs
- Sector: Real Estate
- Implied Market Cap: US$6.320b
- Market Cap: US$4.934b
- Shares outstanding: 34.74m
- Website: https://www.psbusinessparks.com
Number of Employees
- PS Business Parks, Inc.
- 701 Western Avenue
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|PSB||NYSE (New York Stock Exchange)||Yes||Common Shares||US||USD||Mar 1998|
|W8U||DB (Deutsche Boerse AG)||Yes||Common Shares||DE||EUR||Mar 1998|
|PSB.PRU||NYSE (New York Stock Exchange)||S R1/1000 PF U||US||USD||Sep 2012|
|PSB.PRV||NYSE (New York Stock Exchange)||DEP1/1000 PFD V||US||USD||Mar 2013|
|PSB.PRW||NYSE (New York Stock Exchange)||SHS PFD SER W||US||USD||Oct 2016|
|PSB.PRX||NYSE (New York Stock Exchange)||5.25% CUM PFD X||US||USD||Sep 2017|
|PSB.PRY||NYSE (New York Stock Exchange)||5.20% SHS PFD Y||US||USD||Dec 2017|
|PSPB.Z||OTCPK (Pink Sheets LLC)||4.875 DP PFD Z||US||USD||Oct 2019|
PS Business Parks, Inc., a member of the S&P MidCap 400, is a REIT that acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex and office space. As of October 22, 2019, the Company wholly owned 27.5 million rentable square feet with approximately 4,900 commercial customers in six states and held a 95.0% interest in a 395-unit apartment complex.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2019/11/05 00:35|
|End of Day Share Price||2019/11/04 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.