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.
Flawless balance sheet average dividend payer.
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.PRW's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: PSB.PRW exceeded the US REITs industry which returned -9.7% over the past year.
Return vs Market: PSB.PRW underperformed the US Market which returned 8.4% 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.PRW ($25.25) is trading above our estimate of fair value ($21.31)
Significantly Below Fair Value: PSB.PRW is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: PSB.PRW is poor value based on its PE Ratio (29.4x) compared to the REITs industry average (27.9x).
PE vs Market: PSB.PRW is poor value based on its PE Ratio (29.4x) compared to the US market (16x).
Price to Earnings Growth Ratio
PEG Ratio: PSB.PRW's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: PSB.PRW is overvalued based on its PB Ratio (4.5x) compared to the US REITs industry average (1.4x).
How is PS Business Parks forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PSB.PRW's earnings are forecast to decline over the next 3 years (-9.4% per year).
Earnings vs Market: PSB.PRW's earnings are forecast to decline over the next 3 years (-9.4% per year).
High Growth Earnings: PSB.PRW's earnings are forecast to decline over the next 3 years.
Revenue vs Market: PSB.PRW's revenue (0.6% per year) is forecast to grow slower than the US market (8.8% per year).
High Growth Revenue: PSB.PRW's revenue (0.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PSB.PRW's Return on Equity is forecast to be low in 3 years time (5%).
How has PS Business Parks performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PSB.PRW has high quality earnings.
Growing Profit Margin: PSB.PRW's current net profit margins (29%) are lower than last year (36.6%).
Past Earnings Growth Analysis
Earnings Trend: PSB.PRW's earnings have grown by 8.7% per year over the past 5 years.
Accelerating Growth: PSB.PRW'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.PRW had negative earnings growth (-18.8%) over the past year, making it difficult to compare to the REITs industry average (5.3%).
Return on Equity
High ROE: PSB.PRW's Return on Equity (11.3%) is considered low.
How is PS Business Parks's financial position?
Financial Position Analysis
Short Term Liabilities: PSB.PRW's short term assets ($124.5M) exceed its short term liabilities ($74.8M).
Long Term Liabilities: PSB.PRW's short term assets ($124.5M) exceed its long term liabilities ($3.8M).
Debt to Equity History and Analysis
Debt Level: PSB.PRW is debt free.
Reducing Debt: PSB.PRW has no debt compared to 5 years ago when its debt to equity ratio was 13%.
Debt Coverage: PSB.PRW has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: PSB.PRW has no debt, therefore coverage of interest payments is not a concern.
What is PS Business Parks's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: PSB.PRW's dividend (3.17%) is higher than the bottom 25% of dividend payers in the US market (1.69%).
High Dividend: PSB.PRW's dividend (3.17%) is low compared to the top 25% of dividend payers in the US market (4.45%).
Stability and Growth of Payments
Stable Dividend: PSB.PRW's dividends per share have been stable in the past 10 years.
Growing Dividend: PSB.PRW's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (74.1%), PSB.PRW's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
J.P. Petersen (55yo)
Mr. John W. Petersen, also known as " J.P.", serves as an Interim President and Chief Executive Officer of PS Business Parks, Inc. since April 20, 2020. He has been Chief Operating Officer at PS Business P ...
CEO Compensation Analysis
Compensation vs Market: J.P.'s total compensation ($USD864.46K) is below average for companies of similar size in the US market ($USD5.90M).
Compensation vs Earnings: J.P.'s compensation has been consistent with company performance over the past year.
|Interim President||0.083yr||US$864.46k||0.058% $2.7m|
|Executive VP||1.67yrs||US$761.96k||0.0036% $163.8k|
|Senior VP||1.67yrs||US$411.96k||0.021% $979.1k|
|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||15.75yrs||no data||no data|
Experienced Management: PSB.PRW's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.
|Independent Director||22.17yrs||US$122.50k||0.053% $2.4m|
|Independent Presiding Director||0.33yr||US$186.81k||0.0047% $218.7k|
|Independent Director||8.25yrs||US$176.52k||0.0073% $335.9k|
|Independent Director||11.17yrs||US$306.48k||0.0091% $418.5k|
|Independent Director||0.83yr||US$310.60k||no data|
|Independent Director||8.25yrs||US$186.02k||0.0044% $203.0k|
|Independent Director||0.83yr||US$307.65k||no data|
Experienced Board: PSB.PRW's board of directors are considered experienced (8.3 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.PRW
- Exchange: NYSE
- Founded: 1990
- Industry: Diversified REITs
- Sector: Real Estate
- Implied Market Cap: US$4.614b
- Market Cap: US$3.645b
- Shares outstanding: 34.78m
- 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.PRW||NYSE (New York Stock Exchange)||DEP SHS RP PFD W||US||USD||Oct 2016|
|PSB.PRX||NYSE (New York Stock Exchange)||DEP SHS RP PFD X||US||USD||Sep 2017|
|PSB.PRY||NYSE (New York Stock Exchange)||DEP SHS RP PFD Y||US||USD||Dec 2017|
|PSB.PRZ||NYSE (New York Stock Exchange)||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 March 31, 2020, the Company wholly owned 27.5 million rentable square feet with approximately 5,000 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||2020/05/29 05:26|
|End of Day Share Price||2020/05/28 00:00|