LONDON, UK / ACCESSWIRE / December 11, 2017 / Active-Investors has a free review on PS Business Parks, Inc. (NYSE: PSB) following the Company's announcement that it will begin trading ex-dividend on December 12, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on December 11, 2017. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on PSB:
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Dividend Declared
On October 23, 2017, PS Business Parks' Board of Directors declared a quarterly dividend of $0.85 per common share. Distributions are payable on December 28, 2017, to shareholders of record on December 13, 2017.
PS Business Parks' indicated dividend represents a yield of 2.63% compared to the average dividend yield of 3.62% for the financial sector. The Company has raised dividend for three consecutive years.
Dividend Insights
PS Business Parks has a dividend payout ratio of 55.6%, which means that the Company distributes approximately $0.57 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, PS Business Parks is forecasted to report earnings of $3.55 for the next year, which is substantially above its annualized dividend of $3.40.
As of September 30, 2017, PS Business Parks had cash and cash equivalents of $132.66 million compared to $128.63 million available as of December 31, 2016. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for PS Business Parks
On December 01, 2017, PS Business Parks announced that it is calling for redemption on January 03, 2018, of all outstanding depositary shares representing interests in its 6.00% Cumulative Preferred Stock, Series T (NYSE: PSBPrT) at $25 per share plus accrued dividends from January 01, 2018, through the date of redemption. The aggregate redemption amount, before payment of accrued dividends, to be paid to all holders of the depositary shares is $130.0 million.
About PS Business Parks
PS Business Parks, a member of the S&P SmallCap 600, is a self-advised and self-managed real estate investment trust (REIT) that acquires, develops, owns, and operates commercial properties, primarily multi-tenant flex, office and industrial 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 and a 95.0% interest in 395 apartments.
Stock Performance Snapshot
December 08, 2017 - At Friday's closing bell, PS Business Parks' stock was slightly up 0.55%, ending the trading session at $129.85.
Volume traded for the day: 50.36 thousand shares.
Stock performance in the past twelve-month period – up 13.58%; and year-to-date – up 11.44%
After last Friday's close, PS Business Parks' market cap was at $3.50 billion.
Price to Earnings (P/E) ratio was at 43.21.
The stock has a dividend yield of 2.62%.
The stock is part of the Financial sector, categorized under the REIT - Diversified industry. This sector was up 0.6% at the end of the session.
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