PS Business Parks, Inc.

Symbol: PSB
CIK: 866368
Exchange: NYSE
Founded: 1990 (29 years)
HQ: Glendale, CA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Office, Industrial

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PS Business Parks, Inc. Company Logo

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 9.0   Dividend Section Rating

Rating Dividend Section Avg. Rating
8 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 5.5
8 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 4.5
9 Dividend to FFO Core Payout Ratio Health: Analysis of the REIT’s Dividend to FFO Core Payout Ratios during the last four quarters. 6.9
10 Dividend to FFO Core Payout Ratio Trend: Analysis of the REIT’s Dividend to FFO Core Payout Ratios trend during the last two years. 5.8
10 FFO Core Trend: Analysis of the REIT’s FFO Core trend during the last two years. 7.0
9.0 Overall Dividend Section Rating: The REIT’s total dividend score from the compilation of the below dividend analysis. 6.8

 N/A   Leverage Section Rating

Rating Leverage Section Avg. Rating
10 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 6.6
10 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 7.3
N/A Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 8.0
N/A Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.0
N/A Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 6.3
0 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 7.1

 7.8   Asset & Revenue Section Rating

Rating Asset & Revenue Section Avg. Rating
10 G&A Effeciency Level: Analysis of the REIT’s General and Administrative expenses in relationship to its Revenues. 6.9
9 G&A Effeciency Trend: Analysis of the Trend of the REIT’s General and Administrative expenses in relationship to its Revenues. 7.7
6 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.9
6 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.3
7.8 Overall Asset & Revenue Section Rating: The REIT’s total Asset, Revenues, and Administrative expenses score from the compilation of the above analysis. 7.2


REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

Stock Chart

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Hightlights of Trading Day August 19, 2019


Open Price: $177.99
Closing Price: $178.32
Price Change: 1.7 (0.963%)
Lowest Price: $174.7
Highest Price: $178.9

52-Week Low: $120.21
52-Week High: $179.91
52-Week Change: 36.17%

5 Day Price Change: 1.12%
1 Month Price Change: 2.74%
3 Month Price Change: 10.02%
6 Month Price Change: 19.40%
YTD Price Change: 38.27%
1 Year Price Change: 34.88%
2 Year Price Change: 29.07%
5 Year Price Change: 83.57%

Dividend of Trading Day August 19, 2019


Dividend Yield: 2.355%*
Annualized Dividend: $4.2*
Dividend Yield (TTM):
Annualized Dividend (TTM): $4.2
Ex Dividend Date: 2019-09-11
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes.

Latest News Headlines


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Funds From Operations (FFO)


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Key Stats of Trading Day August 19, 2019


Total Cash: $37,379,000
Current Debt: N/A
Revenue: $413,923,000
Gross Profit: $188,134,000
Total Revenue: $413,923,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $277,221,000
Revenue Per Share: $15
Revenue Per Employee: $2,653,353
Employee: 156
Debt to Equity Ratio (D/E): N/A
Profit Margin: 0.54%
Enterprise Value (EV): $4,741,101,200
Enterprise Value to Revenue (EV/R): 11.45
Price to Sales (P/S): 11.54
Price to Book (P/B): 2.74
Peg Ratio: -0.73
P/E Ratio: 43.76
P/E High: 44.20
P/E Low: 29.54
Forward P/E Ratio: 49.06
Market Capitalization: $4,891,495,920
Beta: 0.54
Latest Volume: 144,418.00
Avg. Total Volume: 106,440
Avg. 10 Volume: 117,635.80
Avg. 30 Volume: 106,439.93
TTM EPS: 4.08
TTM Dividend Rate: 4.20
Shares Outstanding: 27,431,000
Float: 19,913,726.47
50-Day Moving Avg.: 173.50
200-Day Moving Avg.: 153.16

Latest REIT Community Comments on #PSB


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Properties Owned by PSB


Properties owned:
95
Types:
2
States:
6
Countries:
1
Sample of REIT’s Properties (Image Source - REIT’s website) | See more pictures
PSB Sample Property
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Dividend History


Below are the most recent cash dividends paid by PSB, and the Ex-Dividend Date of the dividend. The percent difference from one dividend payment to the next has also been calculated for your convenience.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date

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Financial Statements Overview

Balance Sheet (Quarterly)

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Current Cash 42,046,000 39,356,000 37,379,000 8,687,000
Receivables 0 0 0 0
Inventory 0 0 0 0
Current Assets 0 0 0 0
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 0 0 0 0
Property, Plant & Equipment Net 0 0 0 0
Goodwill 0 0 0 0
Intangible Assets 0 4,200,000 4,700,000 0
Other Assets 172,776,000 44,565,000 43,781,000 49,295,000
Net Tangible Assets 1,760,850,000 1,754,038,000 1,759,362,000 1,760,471,000
Total Assets 2,057,544,000 2,056,619,000 2,068,594,000 2,063,377,000
Accounts Payable 0 0 0 0
Liabilities (Other) 80,367,000 80,344,000 85,141,000 85,978,000
Current Liabilities (Other) 0 0 0 0
Total Current Liabilities 0 0 0 0
Current Long-term Debt 0 0 0 0
Long-term Debt 0 0 0 0
Total Liabilities 80,367,000 80,344,000 85,141,000 85,978,000
Minority Interest 7,623,000 7,027,000 8,385,000 6,514,000
Common Stock 274,000 274,000 274,000 273,000
Retained Earnings 67,049,000 67,059,000 69,207,000 66,107,000
Treasury Stock 0 0 0 0
Capital Surplus 733,777,000 732,955,000 736,131,000 734,341,000
Shareholder Equity 1,760,850,000 1,760,038,000 1,765,362,000 1,760,471,000

Income Statement (Quarterly)

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Total Revenue 107,854,000 107,903,000 104,201,000 103,901,000
Cost of Revenue 56,228,000 58,468,000 56,374,000 56,861,000
Gross Profit 51,626,000 49,435,000 47,827,000 47,040,000
Research and Development 0 0 0 0
Selling General and Admin 0 0 0 0
Operating Expense 59,055,000 61,701,000 59,430,000 59,286,000
Operating Income 48,799,000 46,202,000 44,771,000 44,615,000
Income Expense Net (Other) 574,000 373,000 8,403,000 228,000
EBIT 48,799,000 46,202,000 44,771,000 44,615,000
Interest Income 0 167,000 166,000 138,000
Pretax Income 49,373,000 46,575,000 53,174,000 44,843,000
Income Tax 0 0 0 0
Minority Interest 7,623,000 7,027,000 8,385,000 6,514,000
Net Income 41,538,000 39,280,000 44,458,000 38,090,000
Net Income Basic 28,579,000 26,321,000 31,499,000 25,131,000

Cash Flow

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2019-06-30 2019-03-31 2018-12-31 2018-09-30
Net Income 41,538,000 39,280,000 44,458,000 38,090,000
Depreciation 24,768,000 24,875,000 25,737,000 25,207,000
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change 2,690,000 1,977,000 28,692,000 1,473,000
Cash Flow 76,335,000 64,677,000 72,384,000 72,015,000
Capital Expenditures -10,520,000 -7,976,000 -13,512,000 -10,848,000
Investments -13,736,000 0 18,261,000 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -24,256,000 -7,976,000 4,749,000 -10,848,000
Dividends Paid -41,760,000 -41,696,000 -41,689,000 -41,670,000
Net Borrowings 0 0 -80,000 -10,079,000
Cash Flow Financing -49,389,000 -54,724,000 -48,441,000 -59,694,000
Financing Cash Flows (Other) -7,933,000 -13,433,000 -8,003,000 -8,396,000
Exchange Rate Effect 0 0 0 0

About PS Business Parks, Inc.


PS Business Parks, Inc., a member of the S&P Small Cap 600, is a self-advised and self-managed real estate investment trust (“REIT”) that acquires, develops, owns and operates commercial properties, primarily multitenant flex, office and industrial space. The Company defines “flex” space as buildings that are configured with a combination of office and warehouse space and can be designed to fit a number of uses (including office, assembly, showroom, laboratory, light manufacturing and warehouse space). As of September 30, 2017, the Company wholly owned 28.0 million rentable square feet with approximately 4,950 customers concentrated in six states.

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