PS Business Parks, Inc. | REIT Profile

Symbol: PSB
CIK: 866368
Exchange: NYSE
Founded: 1990 (32 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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See PSB on SEC.gov

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Overall Score: 8.0

See score breakdown | See trend

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


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Hightlights of Trading Day January 18, 2022


Open Price: $173.45
Closing Price: $171.59
Price Change: -3.06 (-1.752%)
Lowest Price: $171.2
Highest Price: $175.3

52-Week Low: $130.37
52-Week High: $189.23
52-Week Change: 30.66%

5 Day Price Change: -1.60%
1 Month Price Change: -1.99%
3 Month Price Change: 1.71%
6 Month Price Change: 14.27%
YTD Price Change: -5.17%
1 Year Price Change: 30.66%
2 Year Price Change: 8.40%
5 Year Price Change: 69.10%

Dividend of Trading Day January 18, 2022


Dividend Yield: 2.448%*
Annualized Dividend: $4.2*
Dividend Yield (TTM): 2.382%
Annualized Dividend (TTM): $4.1606
Ex-Dividend Date: 2021-12-14
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. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)


Funds From Operations (FFO)

Key Stats of Trading Day January 18, 2022


Total Cash: $46,594,000
Current Debt: $99,208,000
Revenue: $432,947,000
Gross Profit: $432,947,000
Total Revenue: $432,947,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $285,285,000
Revenue Per Share: $16
Revenue Per Employee: $2,793,206
Employee: 155
Debt to Equity Ratio (D/E): 1.18
Profit Margin: 0.35%
Enterprise Value (EV): $4,798,729,143
Enterprise Value to Revenue (EV/R): 11.08
Price to Sales (P/S): 11.19
Price to Book (P/B): 5.67
Price/Earnings-to-Growth (PEG) Ratio: 1.47
P/E Ratio: 31.03
P/E High: 36.41
P/E Low: 23.42
Forward P/E Ratio: 43.93
Market Capitalization: $4,727,406,596
Beta: 0.69
Latest Volume: 77,809
Avg. Total Volume: 92,799
Avg. 10-Day Volume: 69,154
Avg. 30-Day Volume: 92,799
TTM EPS: 5.53
Shares Outstanding: 27,550,595
Float: N/A
50-Day Moving Avg.: $178.96
200-Day Moving Avg.: $165.33

Latest REIT Community Comments on #PSB


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Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $174.11 per share you would have been able to buy 5 shares of PSB on 2021-01-19 costing $870.55 @ $174.11 per share you would have been able to buy 2 shares of PSB on 2021-01-19 costing $348.22 @ $174.11 per share you would have been able to buy 1 shares of PSB on 2021-01-19 costing $174.11 @ $174.11 per share you would have been able to buy 0 shares of PSB on 2021-01-19 costing $0.00 @ $174.11 per share you would have been able to buy 0 shares of PSB on 2021-01-19 costing $0.00
Current worth On 2022-01-18 these 5 shares would be worth $857.95 @ $171.59 On 2022-01-18 these 2 shares would be worth $343.18 @ $171.59 On 2022-01-18 these 1 shares would be worth $171.59 @ $171.59 On 2022-01-18 these 0 shares would be worth $0.00 @ $171.59 On 2022-01-18 these 0 shares would be worth $0.00 @ $171.59
Dividends earned $21.00 in dividends would have been earned since 2021-01-19 with 5 shares. $8 in dividends would have been earned since 2021-01-19 with 2 shares. $4.20 in dividends would have been earned since 2021-01-19 with 1 shares. $0.00 in dividends would have been earned since 2021-01-19 with 0 shares. $0.00 in dividends would have been earned since 2021-01-19 with 2 shares.
Net (gain / loss)* 8.40 USD 3.36 USD 1.68 USD 0.00 USD 0.00 USD
ROI** 0.96% 0.96% 0.96% nan% nan%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by PSB. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
PSB 2021-12-14 1.050 --- 2021-10-28 2021-12-15 2021-12-30
PSB 2021-09-14 1.050 --- 2021-08-03 2021-09-15 2021-09-30
PSB 2021-06-14 1.050 --- 2021-04-20 2021-06-15 2021-06-30
PSB 2021-03-15 1.050 --- 2021-02-17 2021-03-16 2021-03-31
PSB 2020-12-14 1.050 --- 2020-10-21 2020-12-15 2020-12-30
PSB 2020-09-14 1.050 --- 2020-08-04 2020-09-15 2020-09-30
PSB 2020-06-12 1.050 --- 2020-04-29 2020-06-15 2020-06-30
PSB 2020-03-13 1.050 --- 2020-02-18 2020-03-16 2020-03-31
PSB 2019-12-12 1.050 --- 2019-10-22 2019-12-13 2019-12-30
PSB 2019-09-11 1.050 --- 2019-07-23 2019-09-12 2019-09-27
PSB 2019-06-11 1.050 --- 2019-04-30 2019-06-12 2019-06-27
PSB 2019-03-12 1.050 --- 2019-02-20 2019-03-13 2019-03-28
PSB 2018-12-11 1.050 --- 2018-10-23 2018-12-12 2018-12-27
PSB 2018-09-11 1.050 23.53% 2018-07-24 2018-09-12 2018-09-27
PSB 2018-06-12 0.850 --- 2018-04-24 2018-06-13 2018-06-28
PSB 2018-03-13 0.850 --- 2018-02-20 2018-03-14 2018-03-29
PSB 2017-12-12 0.850 --- 2017-10-24 2017-12-13 2017-12-28
PSB 2017-09-12 0.850 --- 2017-07-25 2017-09-13 2017-09-28
PSB 2017-06-12 0.850 --- 2017-04-25 2017-06-14 2017-06-29
PSB 2017-03-13 0.850 13.33% 2017-02-21 2017-03-15 2017-03-30

Financial Statements Overview


The next Earnings Report for PSB is 2022-02-24

Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Current Cash 46,594,000 115,965,000 69,492,000 69,083,000
Receivables 39,505,000 39,492,000 40,682,000 38,307,000
Inventory 0 0 0 0
Current Assets 86,099,000 155,457,000 110,174,000 107,390,000
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 2,042,379,000 1,931,067,000 1,945,765,000 1,950,315,000
Property, Plant & Equipment Net 1,976,677,000 1,903,031,000 1,905,351,000 1,935,981,000
Goodwill 0 0 0 0
Intangible Assets 0 0 0 0
Other Assets 18,891,000 15,165,000 14,716,000 14,334,000
Net Tangible Assets 854,751,000 829,411,000 809,419,000 811,927,000
Total Assets 2,128,478,000 2,086,524,000 2,055,939,000 2,057,705,000
Accounts Payable 0 0 0 0
Liabilities (Other) 0 0 0 0
Current Liabilities (Other) 99,208,000 88,989,000 82,925,000 82,065,000
Total Current Liabilities 99,208,000 88,989,000 82,925,000 82,065,000
Current Long-term Debt 0 0 0 0
Long-term Debt 0 0 0 0
Total Liabilities 328,977,000 312,363,000 301,770,000 301,028,000
Minority Interest 229,769,000 223,374,000 218,845,000 218,963,000
Common Stock 27,543,000 27,531,000 27,495,000 27,490,000
Retained Earnings 113,444,000 89,800,000 72,809,000 73,631,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 1,799,501,000 1,774,161,000 1,754,169,000 1,756,677,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Total Revenue 110,448,000 109,364,000 108,047,000 105,088,000
Cost of Revenue 0 0 0 0
Gross Profit 110,448,000 109,364,000 108,047,000 105,088,000
Research and Development 0 0 0 0
Selling General and Admin 5,148,000 4,799,000 4,382,000 3,152,000
Operating Expense 62,096,000 59,162,000 60,585,000 58,843,000
Operating Income 48,352,000 50,202,000 47,462,000 46,245,000
Income Expense Net (Other) 0 0 0 0
EBIT 48,352,000 50,202,000 47,462,000 46,245,000
Interest Income 0 0 0 0
Pretax Income 78,463,000 70,050,000 47,507,000 46,295,000
Income Tax 0 0 0 0
Minority Interest 13,850,000 12,094,000 7,411,000 7,147,000
Net Income 52,217,000 45,595,000 27,886,000 26,928,000
Net Income Basic 52,217,000 45,595,000 27,886,000 26,928,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Net Income 52,217,000 45,595,000 27,886,000 26,928,000
Depreciation 21,914,000 22,514,000 22,985,000 96,314,000
Changes in Receivables 39,505,000 39,492,000 40,682,000 -844,000
Changes in Inventories 0 0 0 0
Cash Change 46,594,000 115,965,000 69,492,000 -48,798,000
Cash Flow 84,301,000 79,283,000 68,824,000 276,975,000
Capital Expenditures -24,036,000 -17,523,000 -16,424,000 -52,474,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -102,263,000 15,099,000 -16,424,000 -71,819,000
Dividends Paid 0 0 0 0
Net Borrowings -46,594,000 -115,965,000 -69,492,000 -69,083,000
Cash Flow Financing -51,409,000 -47,909,000 -51,991,000 -198,859,000
Financing Cash Flows (Other) 0 0 0 0
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.

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
7 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.8
10 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.5
9 Dividend to FFO Core Payout Ratio Health: Analysis of the REIT’s Dividend to FFO Core Payout Ratios during the last four quarters. 8.8
6 Dividend to FFO Core Payout Ratio Trend: Analysis of the REIT’s Dividend to FFO Core Payout Ratios trend during the last two years. 7.7
Rating AFFO & Efficiency Section Avg. Rating
8 FFO Core Trend: Analysis of the REIT’s FFO Core trend during the last two years. 7.7
7 FFO Core to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.8
10 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 8.3
10 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 9.0
Rating Leverage Section Avg. Rating
10 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.1
9 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.9
Rating Asset & Revenue Section Avg. Rating
6 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.2
6 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 6.2
Rating Properties Section Avg. Rating
8 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.1
7 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 6.4
8 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.2
10 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 8.0
Rating Market Cap Section Avg. Rating
4 Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. 5.5
8.0 Overall REITRating™ Score (See trend) 6.1

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.

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Last updated: 2022-01-19 - v2.9