PS Business Parks Reaches New 52-Week High (PSB)

NEW YORK ( TheStreet) -- PS Business Parks (NYSE: PSB) hit a new 52-week high Wednesday as it is currently trading at $63.54, above its previous 52-week high of $63.16 with 7,214 shares traded as of 10:25 a.m. ET. Average volume has been 77,700 shares over the past 30 days.

PS Business Parks has a market cap of $1.47 billion and is part of the financial sector and real estate industry. Shares are up 12.1% year to date as of the close of trading on Tuesday.

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 30.8, above the average real estate industry P/E ratio of 29.1 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates PS Business Parks as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full PS Business Parks Ratings Report.

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