PS Business Parks, Inc. (NYSE:PSB) is reporting third quarter financial results on Wednesday 28th October 2020, after market close.
According to analysts surveyed by Thomson Reuters, PSB is expected to report 3Q20 income of $ 0.80 per share from revenue of $ 102.04 million.
For the full year, analysts anticipate top line of $ 408.14 million, while looking forward to income of $ 3.62 per share bottom line.
Previous Quarter Performance
PS Business Parks, Inc. reported income for the second quarter of $ 1.59 per share, from the revenue of $ 100.56 million. The quarterly earnings swell 93.90 percent while revenues dropped 6.70 percent compared with the same quarter last year.
According to street consensus, PSB was expected to report 2Q20 income of $ 0.57 per share from revenue of $ 102.35 million. The bottom line results beat street analysts by $ 1.02 or 178.95 percent, at the same time, top line results fell short of analysts by $ 1.79 million or 1.75 percent.
Stock Performance
Shares of PS Business Parks, Inc. traded low $ -2.67 or -2.30 percent on Tuesday, reaching $ 113.30 with volume of 86.70 thousand shares. PS Business Parks, Inc. has traded high as $ 116.65 and has cracked $ 113.14 on the downward trend
According to the previous trading day, closing price of $ 113.30, representing a 13.16 % increase from the 52 week low of $ 102.48 and a 36.31 % decrease over the 52 week high of $ 182.09.
The company has a market capital of $ 3.11 billion and is part of the Real Estate sector and REIT – Diversified industry.
Recent Analyst recommendations
- On 15th October 2020, maintained by KeyBanc at Underweight rating, with $ 112.00 target price.
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 April 30, 2019, the Company wholly owned 28.3 million rentable square feet with approximately 5,100 commercial customers in six states and held a 95.0% interest in a 395-unit apartment complex.
