PS Business Parks

PS Business Parks is a commercial real estate firm providing warehouse, industrial, and office spaces services. The firm acquires, develops, owns, and operates commercial properties, predominantly multi-tenant industrial, industrial-flex, and low-rise suburban office space.

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PS Business Parks continues to demonstrate that it's a high quality player in its space. The overall risk profile of the business is favorable and its long-term outlook is encouraging.

PS Business Parks: High Quality Persists, But Shares Are Even More Expensive Than Before

PS Business Parks' (PSB) CEO Mac Chandler on Q3 2021 Results - Earnings Call Transcript

PS Business Parks' (PSB) Q3 results highlight better-than-anticipated top-line growth on rental rate increases and occupancy gains, partly offset by rise in adjusted cost of operations.

PS Business Parks (PSB) Q3 FFO Misses, Revenues Beat Estimates

PS Business Parks (PSB) delivered FFO and revenue surprises of -1.15% and 1.21%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

PS Business Parks (PSB) Misses Q3 FFO Estimates

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) reported operating results for the three and nine months ended September 30, 2021. Operating Results for the Three and Nine Months Ended September 30, 2021 Net income allocable to common stockholders for the three and nine months ended September 30, 2021 was $52.2 million, or $1.89 per diluted share, and $125.7 million, or $4.55 per diluted share, respectively. Net operating income (“NOI”) attributable to the Company's Same P

PS Business Parks, Inc. Reports Results for the Quarter Ended September 30, 2021

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) (the “Company”) announced today that it has closed on the previously announced sale of its Lusk Business Park, located in the Sorrento Mesa submarket of San Diego, California, to an affiliate of Longfellow Real Estate Partners (the “Buyer”) for a gross purchase price of $315.4 million (the “Lusk Sale”). The Company noted that net proceeds from the Lusk Sale, after payment of transaction costs, were $311.1 million. “We are ple

PS Business Parks, Inc. Closes Lusk Business Park Disposition

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) (the “Company”) announced today that it intends to release its third quarter 2021 earnings after the close of business on Thursday, October 28, 2021. A conference call is scheduled for Friday, October 29, 2021, at 10:00 a.m. PDT (1:00 p.m. EDT) to discuss third quarter results. The toll free number is 866-831-8713; the conference ID is PSBQ321. The call will also be available via a live webcast on the Company's website. A rep

PS Business Parks, Inc. to Release Third Quarter 2021 Earnings and Host Quarterly Conference Call

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) announced today that Adeel Khan has been appointed as the Company's Executive Vice President, Chief Financial Officer and Corporate Secretary, effective January 10, 2022. Jeffrey D. Hedges will continue to serve as the Company's Executive Vice President, Chief Financial Officer and Corporate Secretary until November 12, 2021 and has agreed to serve as a consultant to the Company until February 11, 2022 to facilitate the trans

PS Business Parks, Inc. Names Adeel Khan as Chief Financial Officer

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB; the “Company”) has entered into a Purchase and Sale Agreement (the “Agreement”) by and between the Company and an affiliate of Longfellow Real Estate Partners (the “Buyer”). The Agreement provides that, upon the terms and subject to the conditions set forth therein, the Buyer will acquire the Company's Lusk Business Park, located in the Sorrento Mesa submarket of San Diego, California, for a gross purchase price of $315.4 mil

PS Business Parks, Inc. Announces Agreement to Sell Lusk Business Park in San Diego, California

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) (the “Company”) announced today that its Board of Directors elected M. Christian Mitchell to the Board of Directors effective October 4, 2021. Mr. Mitchell, 66, serves as a Managing Partner of THG Advisory Services, LLC, an alternative investment and advisory firm. Mr. Mitchell is a retired senior partner at Deloitte & Touche LLP where he served as the national or regional managing partner for various practices of the fir

PS Business Parks, Inc. Announces Election of New Director

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) announced today that it is calling for redemption of all outstanding depositary shares representing interests in its 5.20% Cumulative Preferred Stock, Series W (NYSE:PSBPrW) on November 3, 2021, at $25 per share plus accrued dividends from October 1, 2021, through the date of redemption. The aggregate redemption amount, before payment of accrued dividends, to be paid to the holders of the depositary shares is $189.8 million.

PS Business Parks, Inc. Announces Redemption of All Outstanding Depositary Shares Representing Interests in its 5.20% Cumulative Preferred Stock, Series W

STORE Capital

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In light of major real estate company China Evergrande Group ( HKSE:03333 , Financial) warning of possible defaults on its debt, four U.S. real estate stocks with strong business quality metrics include CBRE Group Inc. ( CBRE , Financial), PS Business Parks Inc. ( PSB , Financial), PotlachDeltic Corp. ( PCH , Financial) and Marcus & Millichap Inc. ( MMI , Financial) according to the All-in-One Screener, a Premium feature of GuruFocus.

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PS Business Parks' (PSB) diversified portfolio, capital recycling moves and balance-sheet strength poise it well to withstand cash flow woes and seize accretive growth scopes despite rising supply.

Is it Wise to Hold On to PS Business Parks (PSB) Stock Now?

The Port America buyout can fortify PS Business Parks' (PSB) presence in Texas and poise it well to bank on improving fundamentals of the industrial real estate market.

PS Business Parks (PSB) Boosts Portfolio With Port America Buyout

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) announced today that it has completed the acquisition of Port America, a 717,735 square foot multi-tenant industrial park located in Dallas, Texas, for a total purchase price of $123.0 million. Port America consists of 15 buildings with an average customer size of 8,000 square feet and was approximately 96% occupied at closing. The park is strategically located immediately adjacent to DFW International Airport on fee simple l

PS Business Parks, Inc. Announces Acquisition of Port America in Texas

PS Business Parks is a high-quality REIT that carries no debt on its balance sheet. It's seeing strong signs of an uptick in demand, with growth in cash rental rates.

PS Business Parks: Shareholders Rule This Kingdom

PS Business Parks (PSB) enhances financial flexibility with maturity extension and principal amount increase of unsecured revolving credit facility.

PS Business Parks (PSB) Amends & Restates Credit Facility

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) today announced that its operating partnership, PS Business Parks, L.P., entered into a Fourth Amended and Restated Credit Agreement (the “Credit Agreement”). The amendment and restatement, among other things, increases the aggregate principal amount of the unsecured revolving credit facility (“Credit Facility”) from $250 million to $400 million, and extends the maturity date to August 24, 2025, with two six-month extension o

PS Business Parks, Inc. Announces Amendment and Restatement of Unsecured Revolving Credit Facility

PS Business Parks' (PSB) CEO Mac Chandler on Q2 2021 Results - Earnings Call Transcript

PS Business Parks' (PSB) Q2 results highlight better-than-expected top-line growth on rental rate increases and occupancy gains.

PS Business Parks (PSB) Q2 FFO & Revenues Beat Estimates

PS Business Parks (PSB) delivered FFO and revenue surprises of 1.74% and 1.64%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

PS Business Parks (PSB) Beats Q2 FFO and Revenue Estimates

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) reported operating results for the three and six months ended June 30, 2021. Operating Results for the Three and Six Months Ended June 30, 2021 Net income allocable to common stockholders for the three and six months ended June 30, 2021 was $45.6 million, or $1.65 per diluted share, and $73.5 million, or $2.66 per diluted share, respectively. Net operating income (“NOI”) attributable to the Company's Same Park portfolio (defi

PS Business Parks, Inc. Reports Results for the Quarter Ended June 30, 2021

GLENDALE, Calif.--(BUSINESS WIRE)--PS Business Parks, Inc. (NYSE:PSB) announced today that it intends to release its second quarter 2021 earnings after the close of business on Tuesday, August 3, 2021. A conference call is scheduled for Wednesday, August 4, 2021, at 10:00 a.m. PDT (1:00 p.m. EDT) to discuss second quarter results. The toll free number is 877-876-9176; the conference ID is PSBQ221. The call will also be available via a live webcast on the Company's website. A replay of the confe

PS Business Parks, Inc. to Release Second Quarter 2021 Earnings and Host Quarterly Conference Call

PS Business Parks is a reliable REIT that has weathered economic turmoil, including the latest one. It continues to demonstrate solid results and could benefit from rising e-commerce growth and reduced new office construction over the past 12 months.

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