PS Business Parks Stock Hits New 52-Week High (PSB)

NEW YORK ( TheStreet) -- PS Business Parks (NYSE: PSB) hit a new 52-week high Thursday as it is currently trading at $66.03, above its previous 52-week high of $65.98 with 26,543 shares traded as of 12:45 p.m. ET. Average volume has been 98,800 shares over the past 30 days.

PS Business Parks has a market cap of $1.58 billion and is part of the financial sector and real estate industry. Shares are up 17.6% year to date as of the close of trading on Wednesday.

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 31.9, above the average real estate industry P/E ratio of 30.8 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 solid stock price performance, growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full PS Business Parks Ratings Report.

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