PS Business Parks
Market Cap
US$6.4b
Last Updated
2019/10/22 23:39 UTC
Data Sources
Company Financials +
Executive Summary
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.
Snowflake
Fundamentals
Average dividend payer with acceptable track record.
Similar Companies
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
Market Performance
7 Day Return
0.3%
PSB
0.9%
US REITs
0.07%
US Market
1 Year Return
48.0%
PSB
21.8%
US REITs
8.9%
US Market
Return vs Industry: PSB exceeded the US REITs industry which returned 21.8% over the past year.
Return vs Market: PSB exceeded the US Market which returned 8.9% over the past year.
Shareholder returns
| PSB | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.3% | 0.9% | 0.07% |
| 30 Day | 1.6% | 2.2% | -0.3% |
| 90 Day | 3.9% | 7.9% | -1.6% |
| 1 Year | 52.0%48.0% | 27.0%21.8% | 11.3%8.9% |
| 3 Year | 82.2%67.8% | 37.5%20.2% | 46.3%36.8% |
| 5 Year | 160.1%118.6% | 65.5%30.4% | 62.1%44.3% |
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
2 weeks ago | Simply Wall St
Should PS Business Parks, Inc. (NYSE:PSB) Be Part Of Your Dividend Portfolio?1 month ago | Simply Wall St
Have Insiders Sold PS Business Parks, Inc. (NYSE:PSB) Shares Recently?1 month ago | Simply Wall St
Interested In PS Business Parks, Inc. (NYSE:PSB)’s Upcoming 0.6% Dividend? You Have 3 Days LeftValuation
Is PS Business Parks undervalued compared to its fair value and its price relative to the market?
44.98x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: PSB ($183.28) is trading above our estimate of fair value ($152.6)
Significantly Below Fair Value: PSB is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: PSB is poor value based on its PE Ratio (45x) compared to the REITs industry average (37.3x).
PE vs Market: PSB is poor value based on its PE Ratio (45x) compared to the US market (17.8x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate PSB's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: PSB is overvalued based on its PB Ratio (6.3x) compared to the US REITs industry average (2.1x).
Next Steps
Future Growth
How is PS Business Parks forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
-0.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PSB's earnings are forecast to decline over the next 3 years (-0.9% per year).
Earnings vs Market: PSB's earnings are forecast to decline over the next 3 years (-0.9% per year).
High Growth Earnings: PSB's earnings are forecast to decline over the next 3 years.
Revenue vs Market: PSB's revenue (0.4% per year) is forecast to grow slower than the US market (7.2% per year).
High Growth Revenue: PSB's revenue (0.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if PSB's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has PS Business Parks performed over the past 5 years?
13.4%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: PSB's earnings have grown by 13.4% per year over the past 5 years.
Accelerating Growth: PSB'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 had negative earnings growth (-28.3%) over the past year, making it difficult to compare to the REITs industry average (16.9%).
Return on Equity
High ROE: PSB's Return on Equity (9.8%) is considered low.
Return on Assets
ROA vs Industry: PSB has a higher Return on Assets than the REITs industry average last year.
Return on Capital Employed
ROCE Improving: PSB has significantly improved its Return on Capital Employed over the past 3 years.
Next Steps
Financial Health
How is PS Business Parks's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: PSB has a high level of physical assets or inventory.
Debt Coverage by Assets: Insufficient data to determine if PSB's debt is covered by short term assets.
Financial Institutions Analysis
Asset Level: PSB's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if PSB has a sufficient allowance for bad loans.
Low Risk Liabilities: PSB reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if PSB has an acceptable proportion of non-loan assets held.
Low Risk Deposits: PSB has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if PSB has an appropriate level of bad loans.
Next Steps
Dividend
What is PS Business Parks's current dividend yield, its reliability and sustainability?
2.29%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: PSB's dividend (2.29%) is higher than the bottom 25% of dividend payers in the US market (1.45%).
High Dividend: PSB's dividend (2.29%) is low compared to the top 25% of dividend payers in the US market (3.68%).
Stable Dividend: PSB's dividends per share have been stable in the past 10 years.
Growing Dividend: PSB's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (71.2%), PSB'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.
Next Steps
Management
What is the CEO of PS Business Parks's salary, the management and board of directors tenure and is there insider trading?
3.3yrs
Average management tenure
CEO
Maria Hawthorne (59yo)
3.3yrs
Tenure
US$3,773,551
Compensation
Ms. Maria R. Hawthorne has been Chief Executive Officer and Director of PS Business Parks, Inc. since July 01, 2016. Ms. Hawthorne has been President of PS Business Parks since August 24, 2015 and was its ...
CEO Compensation Analysis
Compensation vs. Market: Maria's total compensation ($USD3.77M) is below average for companies of similar size in the US market ($USD6.88M).
Compensation vs Earnings: Maria's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Management Age and Tenure
3.3yrs
Average Tenure
55.5yo
Average Age
Experienced Management: PSB's management team is considered experienced (3.3 years average tenure).
Board Age and Tenure
6.8yrs
Average Tenure
61.5yo
Average Age
Experienced Board: PSB's board of directors are considered experienced (6.8 years average tenure).
Insider Trading
Insider Buying: PSB insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Member of the Board of Directors Director |
| Shares | 1,800 |
| Max Price | US$180.68 |
| Entity | Individual |
| Role | Chief Operating Officer Executive VP & COO |
| Shares | 600 |
| Max Price | US$169.04 |
| Entity | Individual |
| Role | Member of the Board of Directors Director |
| Shares | 1,300 |
| Max Price | US$159.86 |
| Entity | Individual |
| Role | Chief Operating Officer Executive VP & COO |
| Shares | 947 |
| Max Price | US$165.05 |
| Entity | Individual |
| Role | Member of the Board of Directors Director |
| Shares | 2,000 |
| Max Price | US$162.68 |
| Entity | Individual |
| Role | Chief Accounting Officer Senior VP |
| Shares | 2,000 |
| Max Price | US$160.01 |
| Entity | Individual |
| Role | Chief Operating Officer Executive VP & COO |
| Shares | 1,666 |
| Max Price | US$156.78 |
| Entity | Individual |
| Role | Member of the Board of Directors Director |
| Shares | 2,500 |
| Max Price | US$156.34 |
| Entity | Individual |
| Role | Member of the Board of Directors Director |
| Shares | 2,500 |
| Max Price | US$139.17 |
| Entity | Company |
| Shares | 5,000 |
| Max Price | US$141.50 |
| Entity | Individual |
| Role | Chief Operating Officer Executive VP & COO |
| Shares | 1,420 |
| Max Price | US$138.87 |
| Entity | Company |
| Shares | 15,000 |
| Max Price | US$137.55 |
| Entity | Company |
| Shares | 10,000 |
| Max Price | US$136.38 |
Ownership Breakdown
Management Team
Maria Hawthorne (59yo)
President
- Tenure: 3.3yrs
- Compensation: US$3.77m
Coby Holley (50yo)
Vice President of Investments
- Tenure: 0yrs
Bob Murphy
Property Manager of Miami International Commerce Center
- Tenure: 15.2yrs
John Petersen (55yo)
Executive VP & COO
- Tenure: 14.8yrs
- Compensation: US$721.80k
Trenton Groves
Senior VP
- Tenure: 1.1yrs
- Compensation: US$570.03k
Lily Hughes (56yo)
Assistant Secretary
- Tenure: 0yrs
Jeff Hedges
Executive VP
- Tenure: 1.1yrs
- Compensation: US$1.90m
Board Members
Joe Russell (59yo)
Director
- Tenure: 16.2yrs
- Compensation: US$36.22k
Ron Havner (61yo)
Chairman
- Tenure: 21.6yrs
- Compensation: US$66.62k
Jim Kropp (70yo)
Presiding Independent Director
- Tenure: 0.7yrs
- Compensation: US$104.62k
Maria Hawthorne (59yo)
President
- Tenure: 3.3yrs
- Compensation: US$3.77m
Bob Rollo (71yo)
Independent Director
- Tenure: 6yrs
- Compensation: US$92.97k
Gary Pruitt (69yo)
Independent Director
- Tenure: 7.7yrs
- Compensation: US$93.02k
Jennifer Dunbar (56yo)
Independent Director
- Tenure: 10.7yrs
- Compensation: US$105.12k
Steve Wilson (62yo)
Director
- Tenure: 0.3yrs
Peter Schultz (71yo)
Independent Director
- Tenure: 7.7yrs
- Compensation: US$102.02k
Kristy Pipes (60yo)
Director
- Tenure: 0.3yrs
Company Information
PS Business Parks, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: PS Business Parks, Inc.
- Ticker: PSB
- Exchange: NYSE
- Founded: 1990
- Industry: Diversified REITs
- Sector: Real Estate
- Implied Market Cap: US$6.439b
- Market Cap: US$5.028b
- Shares outstanding: 34.74m
- Website: https://www.psbusinessparks.com
Number of Employees
Location
- PS Business Parks, Inc.
- 701 Western Avenue
- Glendale
- California
- 91201
- United States
Listings
| 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 |
Biography
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 June 30, ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/22 23:39 |
| End of Day Share Price | 2019/10/22 00:00 |
| Earnings | 2019/06/30 |
| Annual Earnings | 2018/12/31 |
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.