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. More Details
Flawless balance sheet established 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 has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: PSB underperformed the US REITs industry which returned -18% over the past year.
Return vs Market: PSB underperformed the US Market which returned 12% 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
1 day ago | Simply Wall StPS Business Parks, Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For Next Year
2 weeks ago | Simply Wall StPS Business Parks, Inc.'s (NYSE:PSB) Stock Has Shown Weakness Lately But Financial Prospects Look Decent: Is The Market Wrong?
1 month ago | Simply Wall StThis Insider Has Just Sold Shares In PS Business Parks, Inc. (NYSE:PSB)
Is PS Business Parks undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PSB ($114.03) is trading below our estimate of fair value ($122.7)
Significantly Below Fair Value: PSB is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: PSB is good value based on its PE Ratio (25x) compared to the US REITs industry average (34x).
PE vs Market: PSB is poor value based on its PE Ratio (25x) compared to the US market (18.1x).
Price to Earnings Growth Ratio
PEG Ratio: PSB's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: PSB is overvalued based on its PB Ratio (3.9x) 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 2 analysts?
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 (-0.3% per year).
Earnings vs Market: PSB's earnings are forecast to decline over the next 3 years (-0.3% per year).
High Growth Earnings: PSB's earnings are forecast to decline over the next 3 years.
Revenue vs Market: PSB's revenue (1% per year) is forecast to grow slower than the US market (10% per year).
High Growth Revenue: PSB's revenue (1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PSB's Return on Equity is forecast to be low in 3 years time (7%).
How has PS Business Parks performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PSB has a large one-off gain of $43.9M impacting its September 30 2020 financial results.
Growing Profit Margin: PSB's current net profit margins (30%) are higher than last year (26.3%).
Past Earnings Growth Analysis
Earnings Trend: PSB's earnings have grown by 12% per year over the past 5 years.
Accelerating Growth: PSB's earnings growth over the past year (11.1%) is below its 5-year average (12% per year).
Earnings vs Industry: PSB earnings growth over the past year (11.1%) exceeded the REITs industry 8.1%.
Return on Equity
High ROE: PSB's Return on Equity (11.2%) is considered low.
How is PS Business Parks's financial position?
Financial Position Analysis
Short Term Liabilities: PSB's short term assets ($157.0M) exceed its short term liabilities ($84.5M).
Long Term Liabilities: PSB's short term assets ($157.0M) exceed its long term liabilities ($3.3M).
Debt to Equity History and Analysis
Debt Level: PSB is debt free.
Reducing Debt: PSB has no debt compared to 5 years ago when its debt to equity ratio was 12.9%.
Debt Coverage: PSB has no debt, therefore it does not need to be covered by operating cash flow.
Interest Coverage: PSB has no debt, therefore coverage of interest payments is not a concern.
What is PS Business Parks's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: PSB's dividend (3.68%) is higher than the bottom 25% of dividend payers in the US market (1.69%).
High Dividend: PSB's dividend (3.68%) is low compared to the top 25% of dividend payers in the US market (4.78%).
Stability and Growth of Payments
Stable Dividend: PSB's dividends per share have been stable in the past 10 years.
Growing Dividend: PSB's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (77.2%), PSB's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: PSB's dividends in 3 years are forecast to be covered by earnings (66.3% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
J.P. Petersen (56 yo)
Mr. John W. Petersen, also known as " J.P.", serves as an Interim President and Chief Executive Officer of PS Business Parks, Inc. since April 20, 2020. He has been Chief Operating Officer at PS Business P ...
CEO Compensation Analysis
Compensation vs Market: J.P.'s total compensation ($USD864.46K) is below average for companies of similar size in the US market ($USD5.63M).
Compensation vs Earnings: J.P.'s compensation has been consistent with company performance over the past year.
|Interim President||0.50yr||US$864.46k||0.058% |
|Executive VP||2.08yrs||US$761.96k||0.0084% |
|Senior VP||2.08yrs||US$411.96k||0.021% |
|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||16.17yrs||no data||no data|
Experienced Management: PSB's management team is considered experienced (2.1 years average tenure).
|Independent Director||22.58yrs||US$122.50k||0.054% |
|Independent Presiding Director||0.75yr||US$186.81k||0.0047% |
|Independent Director||8.58yrs||US$176.52k||0.0073% |
|Independent Director||11.58yrs||US$306.48k||0.0091% |
|Independent Director||1.25yrs||US$310.60k||no data|
|Independent Director||8.58yrs||US$186.02k||0.0044% |
|Independent Director||1.25yrs||US$307.65k||0.0026% |
Experienced Board: PSB's board of directors are considered experienced (8.6 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: PSB insiders have only sold shares in the past 3 months.
Recent Insider Transactions
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
- Exchange: NYSE
- Founded: 1990
- Industry: Diversified REITs
- Sector: Real Estate
- Implied Market Cap: US$3.873b
- Market Cap: US$3.059b
- Shares outstanding: 34.79m
- 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% CUM 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 Septem ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/10/30 23:58|
|End of Day Share Price||2020/10/30 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.