NEW YORK ( TheStreet) -- PS Business Parks (NYSE: PSB) hit a new 52-week high Wednesday as it is currently trading at $67.77, above its previous 52-week high of $67.73 with 4,682 shares traded as of 9:39 a.m. ET. Average volume has been 99,000 shares over the past 30 days. PS Business Parks has a market cap of $1.6 billion and is part of the financial sector and real estate industry. Shares are up 21.4% 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 32.7, above the average real estate industry P/E ratio of 31.2 and above the S&P 500 P/E ratio of 17.7.
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