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PSB PS Business Parks

PS Business Parks, Inc. is a fully-integrated, self-advised, and self-managed real estate investment trust, which engages in the ownership, operation, acquisition, and development of commercial properties, primarily multi-tenant flex, office, and industrial space. Its commercial real estate properties include warehouse and office space. The company was founded in 1986 and is headquartered in Glendale, CA.

Company profile

Ticker
PSB, PSB+Z
Exchange
NYSE
Website
www.psbusinessparks.com
CEO
John W. Petersen
Employees
Incorporated
California
Location
California
Fiscal year end
Dec 31
Sector
Finance and Insurance > Other Financial Vehicles
Industry (SIC)
Real Estate Investment Trusts
Annaly Capital Management • AGNC Investment • VEREIT • Vornado Realty • Simon Property • Healthpeak Properties • Erp Operating LTD Partnership • Equity Residential Properties Trust • Prologis • Welltower ...
Former names
PUBLIC STORAGE PROPERTIES XI INC
SEC CIK
0000866368
Corporate docs
IRS number
954300881

PSB stock data

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News

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Wells Fargo Maintains Underweight on PS Business Parks, Raises Price Target to $155
7 Jun 21
Wells Fargo analyst Blaine Heck maintains PS Business Parks (NYSE:PSB) with a Underweight and raises the price target from $145 to $155.
PS Business Parks, Inc. Announces Departure Of COO And EVP John W. Petersen
13 May 21
GLENDALE, Calif.--(BUSINESS WIRE)-- PS Business Parks, Inc. (NYSE:PSB) (the “Company”) announced today that John W. Petersen will resign as Executive Vice President and Chief Operating Officer of the Company

Press releases

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PS Business Parks, Inc. to Release Second Quarter 2021 Earnings and Host Quarterly Conference Call
15 Jul 21
PS Business Parks, Inc. (NYSE:PSB) announced today that it intends to release its second quarter 2021 earnings after the close of business on Tuesday, August 3, 2021. A conference call is scheduled for Wednesday,
Public Storage to Release Second Quarter 2021 Earnings Results and Host Quarterly Conference Call
14 Jul 21
Public Storage (NYSE:PSA) announced today it intends to release its second quarter 2021 earnings results on Tuesday, August 3, 2021. A conference call is scheduled for Wednesday, August 4, 2021, at 9:00 a.m. (PDT) to
Public Storage Releases 2021 Sustainability Report
29 Jun 21
Public Storage (NYSE:PSA) announced today the release of its 2021 Sustainability Report detailing how the Company's engaged and diverse team, innovative and sustainable operations, and financial fortitude are
Public Storage Announces Redemption of All Outstanding Depositary Shares Representing Interests in its 4.95% Cumulative Preferred Shares, Series D
18 Jun 21
Integrate Names Kristy Pipes to Board of Directors
17 Jun 21

Calendar

27 Apr 21
2 Aug 21
31 Dec 21

Financial summary

Financial statements Chart PSB financial data
Quarter (USD)
 Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
 Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 70.58M 70.58M 70.58M 70.58M 70.58M 70.58M
Cash burn (monthly) (positive/no burn) 1.53M 20.2M 19.64M (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 6.28M 82.75M 80.5M n/a n/a
Cash remaining n/a 64.3M -12.17M -9.92M n/a n/a
Runway (months of cash) n/a 42.0 -0.6 -0.5 n/a n/a

Beta Read what these cash burn values mean

Recent insider trades

PSB insider ownership history Insider history
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 21 Hawthorne Maria R Common Stock Payment of exercise Dispose F No No 148.29 902 133.76K 57,178
29 Jun 21 James H Kropp Common Stock Sell Dispose S No No 148.81 1,000 148.81K 9,270
11 Jun 21 Joseph D Russell JR Common Stock Sell Dispose S No No 159.9 2,500 399.75K 30,879
7 Jun 21 Trenton Groves Common Stock Sell Dispose S No No 159.56 3,003 479.16K 5,721
1 Jun 21 Havner Ronald L JR Common Stock Sell Dispose S Yes No 156.73 4,137 648.39K 155,584
22 Apr 21 Havner Ronald L JR Common Stock Gift Dispose G No No 0 2,068 0 0
7 May 20 Havner Ronald L JR Common Stock Gift Dispose G No No 0 2,069 0 2,068
Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q1 2021

PSB institutional ownership history Ownership history

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

70.2% owned by funds/institutions
13F holders
 Current Prev Q Change
Total holders 204 197 +3.6%
Opened positions 28 22 +27.3%
Closed positions 21 35 -40.0%
Increased positions 72 64 +12.5%
Reduced positions 77 89 -13.5%
13F shares
 Current Prev Q Change
Total value 2.99B 2.58B +15.8%
Total shares 19.32M 19.41M -0.5%
Total puts 3.5K 8.1K -56.8%
Total calls 1.4K 0 NEW
Total put/call ratio 2.5 Infinity NaN%
Largest owners
 Shares Value Change
Vanguard 3.13M $484.1M +2.1%
BLK Blackrock 2.93M $452.24M +1.9%
TROW T. Rowe Price 2.48M $383.49M +6.6%
Wellington Management 2.17M $334.96M +2.5%
PFG Principal Financial Group Inc - Registered Shares 1.13M $174.93M +1.3%
STT State Street 1.02M $157.31M -0.8%
Geode Capital Management 425.46K $65.77M +9.0%
NTRS Northern Trust 391.39K $60.5M -2.5%
Nuveen Asset Management 332.03K $51.33M -22.8%
Dimensional Fund Advisors 309.5K $47.85M -1.7%
Largest transactions
 Shares Bought/sold Change
Norges Bank 0 -250.76K EXIT
TROW T. Rowe Price 2.48M +152.97K +6.6%
Nuveen Asset Management 332.03K -97.89K -22.8%
Ubs Oconnor 0 -89.02K EXIT
Citadel Advisors 191.59K +85.19K +80.1%
NN Investment Partners 15.86K -69.29K -81.4%
DBRG DigitalBridge 29.5K -66.8K -69.4%
Artisan Partners Limited Partnership 270.69K +66.15K +32.3%
Vanguard 3.13M +63.99K +2.1%
Millennium Management 138.22K +60.41K +77.6%
Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: arrangement, attempt, Cabinet, Chantilly, consecutive, creation, decision, decline, easy, expertise, Herndon, Kitchen, KZ, marked, onset, oriented, par, recourse, reoccur, Rockville, Stone, storm, technology, threatened, winter
Removed: adversely, attention, collect, computer, confidence, configurable, consumer, death, degree, departing, determination, ease, elevated, environment, generated, globally, hardware, impacted, individually, infection, July, likelihood, maximizing, milder, Northern, October, predict, reduce, reinstituted, remote, roll, small, software, spread, suburban, transportation, unaccrued, virtually, warehouse
From filing 10-Q 2021 Q1

Financial reports

View all
10-Q
2021 Q1
Quarterly report
27 Apr 21
10-K
2020 FY
Annual report
22 Feb 21
10-Q
2020 Q3
Quarterly report
28 Oct 20
10-Q
2020 Q2
Quarterly report
4 Aug 20
10-Q
2020 Q1
Quarterly report
29 Apr 20
10-K
2019 FY
Annual report
19 Feb 20
10-Q
2019 Q3
Quarterly report
22 Oct 19
10-Q
2019 Q2
Quarterly report
25 Jul 19
10-Q
2019 Q1
Quarterly report
30 Apr 19
10-K
2018 FY
Annual report
25 Feb 19

Current reports

View all
8-K
Departure of Directors or Certain Officers
13 May 21
8-K
Submission of Matters to a Vote of Security Holders
4 May 21
8-K
Results of Operations and Financial Condition
27 Apr 21
8-K
Submission of Matters to a Vote of Security Holders
26 Apr 21
8-K
PS Business Parks, Inc. Announces Election of Two New Directors
22 Apr 21
8-K
Departure of Directors or Certain Officers
5 Mar 21
8-K
PS Business Parks, Inc. Names Mac Chandler
2 Mar 21
8-K
Results of Operations and Financial Condition
22 Feb 21
8-K
Departure of Directors or Certain Officers
2 Nov 20
8-K
Results of Operations and Financial Condition
28 Oct 20

Registration and prospectus

View all
S-8 POS
Registration of securities for employees (post-effective amendment)
19 May 21
S-8 POS
Registration of securities for employees (post-effective amendment)
19 May 21
S-8 POS
Registration of securities for employees (post-effective amendment)
19 May 21
S-8 POS
Registration of securities for employees (post-effective amendment)
19 May 21
S-8 POS
Registration of securities for employees (post-effective amendment)
19 May 21
S-8 POS
Registration of securities for employees (post-effective amendment)
19 May 21
S-3ASR
Automatic shelf registration
8 Mar 21
25-NSE
Exchange delisting
30 Dec 19
25-NSE
Exchange delisting
30 Dec 19
8-A12B
Registration of securities on exchange
25 Oct 19

Proxies

View all
DEF 14A
Definitive proxy
19 Mar 21
PRE 14A
Preliminary proxy
5 Mar 21
DEFA14A
Additional proxy soliciting materials
21 Apr 20
DEF 14A
Definitive proxy
20 Mar 20
DEF 14A
Definitive proxy
22 Mar 19
DEF 14A
Definitive proxy
22 Mar 18
DEF 14A
Definitive proxy
22 Mar 17
DEFA14A
Additional proxy soliciting materials
13 Apr 16
DEF 14A
Definitive proxy
23 Mar 16
DEF 14A
Definitive proxy
26 Mar 15

Other

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CERTNYS
Certification of approval for NYSE listing
14 Sep 17
UPLOAD
Letter from SEC
30 Aug 17
CORRESP
Correspondence with SEC
29 Aug 17
UPLOAD
Letter from SEC
23 Aug 17
CERTNYS
Certification of approval for NYSE listing
12 Oct 16
UPLOAD
Letter from SEC
8 Sep 16
CORRESP
Correspondence with SEC
1 Sep 16
UPLOAD
Letter from SEC
22 Aug 16
UPLOAD
Letter from SEC
12 Aug 15
CORRESP
Correspondence with SEC
3 Aug 15

Ownership

View all
4
PS BUSINESS PARKS / MARIA R HAWTHORNE ownership change
6 Jul 21
4
PS BUSINESS PARKS / JAMES H KROPP ownership change
30 Jun 21
11-K
Annual report of employee stock purchases
25 Jun 21
4
PS BUSINESS PARKS / JOSEPH D RUSSELL JR ownership change
14 Jun 21
4/A
PS BUSINESS PARKS / Trenton Groves ownership change
9 Jun 21
4
PS BUSINESS PARKS / Trenton Groves ownership change
9 Jun 21
4
PS BUSINESS PARKS / Peter Schultz ownership change
2 Jun 21
4
PS BUSINESS PARKS / RONALD L HAVNER JR ownership change
2 Jun 21
4
PS BUSINESS PARKS / JOSEPH D RUSSELL JR ownership change
27 May 21
4
PS BUSINESS PARKS / Jeffrey D Hedges ownership change
13 May 21

Transcripts

View all
2020 Q3
Earnings call transcript
29 Oct 20
2020 Q2
Earnings call transcript
5 Aug 20
2020 Q1
Earnings call transcript
30 Apr 20
2019 Q4
Earnings call transcript
19 Feb 20
2019 Q3
Earnings call transcript
23 Oct 19
2019 Q2
Earnings call transcript
24 Jul 19
2019 Q1
Earnings call transcript
3 May 19
2018 Q4
Earnings call transcript
21 Feb 19
2018 Q3
Earnings call transcript
24 Oct 18
2018 Q2
Earnings call transcript
25 Jul 18

Reddit threads

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