Wells Fargo Has Just Reaffirmed $131 Target Price Per Share on PS Business Parks (NYSE:PSB) stock, While They’ve Also Reiterated Their “Market Perform” Rating

August 10, 2018 - By Eugene Smith

PS Business Parks, Inc. (NYSE:PSB) Logo

Investors sentiment decreased to 0.98 in 2018 Q1. Its down 0.09, from 1.07 in 2017Q4. It dived, as 18 investors sold PS Business Parks, Inc. shares while 68 reduced holdings. 26 funds opened positions while 58 raised stakes. 18.88 million shares or 1.22% less from 19.11 million shares in 2017Q4 were reported.

Congress Asset Management Ma owns 25,759 shares. Pub Sector Pension Board invested in 0.01% or 12,911 shares. South Dakota Inv Council accumulated 3,800 shares. Assetmark owns 7 shares. Parametric Assoc Limited Liability invested 0% of its portfolio in PS Business Parks, Inc. (NYSE:PSB). Quantbot Tech Limited Partnership has 1,522 shares for 0.01% of their portfolio. First Midwest Bancshares Trust Division owns 2,395 shares for 0.04% of their portfolio. Sei Invs invested in 37,152 shares. Legal And General Grp Public Ltd Co holds 0.01% or 97,506 shares. Echo Street Ltd Liability Co accumulated 164,805 shares. Teacher Retirement System Of Texas has invested 0% in PS Business Parks, Inc. (NYSE:PSB). Envestnet Asset Inc, Illinois-based fund reported 1,971 shares. 30,120 are owned by California State Teachers Retirement. Fmr Lc invested in 182,224 shares. Morgan Stanley accumulated 100,596 shares.

Since March 6, 2018, it had 0 insider purchases, and 7 sales for $2.97 million activity. Shares for $208,471 were sold by KROPP JAMES H. Petersen John W had sold 3,000 shares worth $350,230. Another trade for 1,500 shares valued at $174,226 was made by RUSSELL JOSEPH D JR on Thursday, May 17.

PS Business Parks (NYSE:PSB) Rating Reaffirmed

In an analyst report revealed on Thursday morning, The “Market Perform” rating of PS Business Parks (NYSE:PSB) shares was restate by Analysts at Wells Fargo, who now has a $131 target price on the stock. Wells Fargo’s target price means a possible upside of 1.21 % from the current price of the company.

PS Business Parks, Inc. (NYSE:PSB) Ratings Coverage

Among 4 analysts covering PS Business Parks (NYSE:PSB), 0 have Buy rating, 1 Sell and 3 Hold. Therefore 0 are positive. PS Business Parks has $13200 highest and $107 lowest target. $123’s average target is -4.98% below currents $129.44 stock price. PS Business Parks had 6 analyst reports since February 14, 2018 according to SRatingsIntel. On Tuesday, May 29 the stock rating was maintained by JP Morgan with “Underweight”. The stock has “Hold” rating by J.P. Morgan on Friday, June 15. The company was maintained on Tuesday, April 24 by Citigroup. JP Morgan upgraded PS Business Parks, Inc. (NYSE:PSB) on Friday, June 15 to “Neutral” rating. Wells Fargo maintained PS Business Parks, Inc. (NYSE:PSB) on Thursday, August 9 with “Market Perform” rating. The stock has “Underweight” rating by JP Morgan on Wednesday, February 14.

The stock increased 0.75% or $0.96 during the last trading session, reaching $129.44. About 68,810 shares traded. PS Business Parks, Inc. (NYSE:PSB) has declined 4.06% since August 10, 2017 and is downtrending. It has underperformed by 16.63% the S&P500.

Analysts await PS Business Parks, Inc. (NYSE:PSB) to report earnings on October, 23. They expect $1.61 earnings per share, up 4.55 % or $0.07 from last year’s $1.54 per share. PSB’s profit will be $55.77M for 20.10 P/E if the $1.61 EPS becomes a reality. After $1.59 actual earnings per share reported by PS Business Parks, Inc. for the previous quarter, Wall Street now forecasts 1.26 % EPS growth.

PS Business Parks, Inc. is a real estate investment trust. The company has market cap of $4.48 billion. The firm invests in real estate markets of the United States. It has a 22.84 P/E ratio. It owns, operates, acquires and develops commercial properties primarily multi-tenant flex, office and industrial space.

More important recent PS Business Parks, Inc. (NYSE:PSB) news were published by: Globenewswire.com which released: “New Research: Key Drivers of Growth for Spire, CONMED, Natural Grocers by Vitamin Cottage, Immersion, Cross …” on August 07, 2018, also Nasdaq.com published article titled: “Industrial REITs Poised to Shine as Demand Remains Robust”, Businesswire.com published: “PS Business Parks, Inc. Reports Results for the Quarter Ended June 30, 2018 and Increases Quarterly Common …” on July 24, 2018. More interesting news about PS Business Parks, Inc. (NYSE:PSB) was released by: Seekingalpha.com and their article: “PS Business Parks, Inc. (PSB) CEO Maria Hawthorne on Q2 2018 Results – Earnings Call Transcript” with publication date: July 25, 2018.

PS Business Parks, Inc. (NYSE:PSB) Institutional Positions Chart

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