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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
CEO
John W. Petersen
Employees
Incorporated
Location
Fiscal year end
Former names
PS BUSINESS PARKS INC/CA, PUBLIC STORAGE PROPERTIES XI INC
SEC CIK
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

Calendar

19 Jul 22
12 Aug 22
31 Dec 22
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

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

Financial report summary

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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

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: Commission, description, entirety, Exhibit, Fairfax, flat, Francisco, Guarantor, inflationary, investor, offering, purport, satisfaction, show, submarket, text, waived, waiver, workplace
Removed: attributed, consumption, damage, efficient, fixed, premium, regular, shelter, storm, supervisory, winter