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PS Business Parks Valuation

Is PSB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PSB?

Other financial metrics that can be useful for relative valuation.

PSB key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue13.6x
Enterprise Value/EBITDA21.8x
PEG Ratio-0.3x

Price to Earnings Ratio vs Peers

How does PSB's PE Ratio compare to its peers?

The above table shows the PE ratio for PSB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average34.9x
STOR STORE Capital
27.9x9.3%US$9.0b
BNL Broadstone Net Lease
25.7x8.7%US$3.2b
WPC W. P. Carey
33.9x10.1%US$16.6b
AAT American Assets Trust
41.5x0.3%US$2.2b
PSB PS Business Parks
11.1x-41.1%US$6.5b

Price-To-Earnings vs Peers: PSB is good value based on its Price-To-Earnings Ratio (11.1x) compared to the peer average (34.9x).


Price to Earnings Ratio vs Industry

How does PSB's PE Ratio compare vs other companies in the US REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a4.1%
n/an/an/a

Price-To-Earnings vs Industry: PSB is good value based on its Price-To-Earnings Ratio (11.1x) compared to the US REITs industry average (31.3x)


Price to Earnings Ratio vs Fair Ratio

What is PSB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PSB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.1x
Fair PE Ratio18.1x

Price-To-Earnings vs Fair Ratio: PSB is good value based on its Price-To-Earnings Ratio (11.1x) compared to the estimated Fair Price-To-Earnings Ratio (18.1x).


Share Price vs Fair Value

What is the Fair Price of PSB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PSB ($187.44) is trading below our estimate of fair value ($226.67)

Significantly Below Fair Value: PSB is trading below fair value, but not by a significant amount.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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