PS Business Parks (PSB)

PS Business Parks, Inc., a member of the S&P MidCap 400, is a REIT that acquires, develops, owns, and operates commercial properties, primarily multi-tenant industrial, flex, and office space. As of December 31, 2020, the Company wholly owned 27.7 million rentable square feet with approximately 5,000 commercial customers in six states. The Company also held a 95.0% interest in a 395-unit apartment complex and a 98.2% interest in an entity developing a 411-unit multifamily apartment complex.

Company profile

Ticker

PSB, PSB-PX, PSB-PY, PSB-PZ, PSB+Z

Exchange

NYSE

Website

www.psbusinessparks.com

CEO

John W. Petersen

Incorporated

Maryland

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 • Simon Property • VEREIT • Prologis • Vornado Realty Trust • Vornado Realty • Welltower • Healthpeak Properties • Erp Operating LTD Partnership ...

Former names

PS BUSINESS PARKS INC/CA, PUBLIC STORAGE PROPERTIES XI INC

SEC CIK

0000866368

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Amherst JV LLC • Amherst Property, LLC • American Office Park Properties, TPGP, Inc. • AOPP Acquisition Corp. • Arapaho Investors, LLC • Brentford JV, LLC • Charlton JV, LLC • Hernmore Corporation • KF Amherst LLC • KF Brentford, LLC ...

IRS number

954300881

PSB stock data

1M 1Y 5Y

News

From Benzinga Pro

PS Business Parks, Inc. Stockholders Approve Acquisition By Affiliates Of Blackstone Real Estate

15 Jul 22

PS Business Parks, Inc. (NYSE:PSB) ("PSB" or the "Company") announced that, at a Special Meeting of Stockholders held earlier today, PSB stockholders voted to approve the acquisition of PSB by

Healthcare Trust Of America, Coca-Cola Consolidated To Join S&P MidCap 400, To Replace PS Business Parks, Healthcare Realty Trust; Green Brick Partners To Replace Coca-Cola In S&P SmallCap 600

13 Jul 22

S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600: S&P SmallCap 600 constituent Coca-Cola Consolidated Inc. (NASD: COKE) will replace PS Business Parks

Press releases

From Benzinga Pro

Public Storage Announces $2.3 Billion Special Dividend Related to PS Business Parks Merger Consideration

22 Jul 22

Public Storage (NYSE:PSA, the "Company")) announced today that its Board of Trustees has declared a one-time dividend of $13.15 per common share, payable on August 4, 2022 to shareholders of record on August 1,

PS Business Parks, Inc. Stockholders Approve Acquisition by Affiliates of Blackstone Real Estate

15 Jul 22

PS Business Parks, Inc. (NYSE:PSB) ("PSB" or the "Company") announced that, at a Special Meeting of Stockholders held earlier today, PSB stockholders voted to approve the acquisition of PSB by affiliates of Blackstone

Healthcare Trust of America & Coca-Cola Consolidated Set to Join S&P MidCap 400; Green Brick Partners to Join S&P SmallCap 600

13 Jul 22

NEW YORK, July 13, 2022 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600: S&P SmallCap 600 constituent Coca-Cola Consolidated Inc. (NASD:

Public Storage to Release Second Quarter 2022 Earnings Results and Host Quarterly Conference Call

13 Jul 22

Lifshitz Law PLLC Announces Investigation of HMTV, PCSB, PSB, and RADA

9 Jul 22

Calendar

19 Jul 22

12 Aug 22

31 Dec 22

Financial summary

Financial statements Chart PSB financial data

Quarter (USD)	Jun 22	Mar 22	Dec 21	Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	174.55M	174.55M	174.55M	174.55M	174.55M	174.55M
Cash burn (monthly)	(no burn)	(no burn)	22.16M	21.56M	(no burn)	(no burn)
Cash used (since last report)	n/a	n/a	32.25M	31.38M	n/a	n/a
Cash remaining	n/a	n/a	142.29M	143.16M	n/a	n/a
Runway (months of cash)	n/a	n/a	6.4	6.6	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Recent insider trades

PSB insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value
20 Jul 22	Dunbar Jennifer Holden	Common Stock	Sale back to company	Dispose D	Yes	No	0	4,425	0
20 Jul 22	Dunbar Jennifer Holden	Common Stock	Sale back to company	Dispose D	No	No	0	10,067	0
20 Jul 22	Dunbar Jennifer Holden	Stock Option Common Stock	Sale back to company	Dispose D	No	No	157.97	2,070	327K
20 Jul 22	Dunbar Jennifer Holden	Stock Option Common Stock	Sale back to company	Dispose D	No	No	122.93	2,070	254.47K
20 Jul 22	Dunbar Jennifer Holden	Stock Option Common Stock	Sale back to company	Dispose D	No	No	143.99	2,070	298.06K
20 Jul 22	Dunbar Jennifer Holden	Stock Option Common Stock	Sale back to company	Dispose D	No	No	111.56	2,070	230.93K
20 Jul 22	Dunbar Jennifer Holden	Stock Option Common Stock	Sale back to company	Dispose D	No	No	117.47	2,070	243.16K
20 Jul 22	Trenton Groves	Common Stock	Sale back to company	Dispose D	No	No	0	8,754	0
20 Jul 22	Havner Ronald L JR	Common Stock	Sale back to company	Dispose D	Yes	No	0	155,584	0
20 Jul 22	Havner Ronald L JR	Common Stock	Sale back to company	Dispose D	No	No	0	24,560	0

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

PSB institutional ownership history Ownership history

71.1% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	260	248	+4.8%
Opened positions	32	48	-33.3%
Closed positions	20	19	+5.3%
Increased positions	94	91	+3.3%
Reduced positions	85	79	+7.6%

13F shares	Current	Prev Q	Change
Total value	3.3B	3.61B	-8.6%
Total shares	19.64M	19.61M	+0.1%
Total puts	5.6K	3.1K	+80.6%
Total calls	4.9K	9.5K	-48.4%
Total put/call ratio	1.1	0.3	+250.2%

Largest owners	Shares	Value	Change
Vanguard	3.14M	$527.82M	-0.3%
BLK Blackrock	2.75M	$462.78M	-3.4%
TROW T. Rowe Price	2.39M	$402.42M	+4.1%
Wellington Management	2.01M	$338.62M	-3.6%
STT State Street	1.22M	$205.68M	+11.9%
PFG Principal Financial Group Inc - Registered Shares	1.16M	$194.76M	+6.1%
Geode Capital Management	413.32K	$69.47M	-6.7%
IVZ Invesco	352.96K	$59.33M	+95.8%
Charles Schwab Investment Management	342.81K	$57.62M	+12.1%
NTRS Northern Trust	312.16K	$52.47M	-4.5%

Largest transactions	Shares	Bought/sold	Change
Norges Bank	0	-199.24K	EXIT
IVZ Invesco	352.96K	+172.72K	+95.8%
STT State Street	1.22M	+129.74K	+11.9%
BLK Blackrock	2.75M	-96.71K	-3.4%
TROW T. Rowe Price	2.39M	+94.44K	+4.1%
Nuveen Asset Management	186.34K	-86.5K	-31.7%
Wellington Management	2.01M	-74.97K	-3.6%
PFG Principal Financial Group Inc - Registered Shares	1.16M	+66.66K	+6.1%
Allianz Asset Management GmbH	112.25K	+48.11K	+75.0%
Millennium Management	79.14K	-37.43K	-32.1%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Risks

The Merger may not be completed on the terms or timeline currently contemplated or at all.
If the Merger Agreement is terminated we may be required to pay significant termination fees.
The Merger Agreement contains provisions that could discourage a potential competing acquirer of the Company or could result in a competing acquisition proposal being at a lower price than it might otherwise be.
Our business may be adversely impacted by the Merger prior to consummation.
An adverse judgment in any litigation that may be filed to challenge the Merger may prevent the transaction from becoming effective or from becoming effective within the expected timeframe.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. junior Avg

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