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PS Business Parks Defies the Rating: Up 3.5% Fails to Respond: Flat Since Last Week's Downgrade

Print Share

Jan 09, 2013 (Analyst Reflections via COMTEX) -- BMO Capital downgraded PS Business Parks (AMEX:PSB) from Market Perform to Underperform a week ago. The shares closed at $67.26, or 3.5% over the $64.98 price of one week ago.

PS Business Parks (AMEX:PSB) has potential upside of 0.3% based on a current price of $67.27 and analysts' consensus price target of $67.50. The stock should discover initial support at its 200-day moving average (MA) of $66.84 and subsequent support at its 50-day MA of $65.08.

PS Business Parks share prices have moved between a 52-week high of $71.72 and a 52-week low of $56.30 and are now trading 19% above that low price at $67.27 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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.

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