NEW YORK (
PS Business Parks
) hit a new 52-week high Monday as it traded at $61.90 compared with its previous 52-Week high of $61.88. PS Business Parks is changing hands at $61.77 with 21,953 shares traded as of 10:57 a.m. ET. Average volume has been 90,100 shares over the past 30 days.
PS Business Parks has a market cap of $1.5 billion and is part of the
industry. Shares are up 9.6% year to date as of the close of trading on Friday.
PS Business Parks, Inc., a real estate investment trust (REIT), together with its subsidiaries, engages in the acquisition, development, ownership, and operation of commercial properties primarily multi-tenant flex, office, and industrial space. The company has a P/E ratio of 41.2, above the average real estate industry P/E ratio of 37.8 and above the S&P 500 P/E ratio of 22.6.
TheStreet Ratings rates PS Business Parks as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full
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