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Jan 03, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- PS Business Parks (AMEX:PSB) was downgraded from Market Perform to Underperform at BMO Capital today. The stock closed yesterday at $66.01 on volume of 151,000 shares, above average daily volume of 104,000. In the past 52 weeks, PS Business Parks share prices have been bracketed by a low of $55.55 and a high of $71.72 and closed yesterday at $66.01, 19% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.
There is potential upside of 8.3% for shares of PS Business Parks based on a current price of $66.01 and an average consensus analyst price target of $71.50. PS Business Parks shares should encounter resistance at the 200-day moving average (MA) of $66.78 and support at the 50-day MA of $65.01.
PS Business Parks, Inc. is a self-advised and self-managed real estate investment trust that acquires, develops, owns and operates commercial properties, primarily multi-tenant office industrial or flex space. The Company is the sole general partner of PS Business Parks, L.P. through which the Company conducts most of its activities.
SmarTrend is tracking the current trend status for PS Business Parks and will alert subscribers who have PSB in their portfolio or watchlist when shares have changed trend direction.
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