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PS Business Parks (PSB) Progresses on Solid Portfolio Mix
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We updated our research report on PS Business Parks, Inc. on May 9.
This Glendale, CA-based real estate investment trust (REIT) is engaged in owning, acquiring, developing and operating commercial real estate properties, especially multi-tenant flex, office and industrial. In first-quarter 2017, the company reported funds from operations (FFO) of $1.52 per share, beating the Zacks Consensus Estimate of $1.41. Also, the figure was 20.6% higher than the prior-year quarter figure of $1.26. The rise was attributable to higher net operating income (NOI), lower interest expenses and savings from lower preferred distributions.
In the last 30 days, the company’s second-quarter and full-year 2017 FFO per share estimates moved up. PS Business Parks’ healthy fundamentals in multi-tenant flex, office and industrial asset categories are expected to support its growth going forward.
The company is attempting portfolio repositioning and is aiming at acquiring well-located, underperforming assets at a discount to replacement costs. These acquisitions will help the company emerge stronger amid improving industrial market fundamentals in the U.S. We expect these efforts to help the company in achieving a better portfolio mix going forward.
However, unfavorable conditions in certain markets, intense competition from developers, owners and operators, and rise in interest rate remain concerns for the company.
Shares of PS Business Parks outperformed the Zacks categorized REIT and Equity Trust - Other industry in the last three months. Shares of the company increased 8.3%, whereas the industry gained 0.6%.
Currently, PS Business Parks carries a Zacks Rank #2 (Buy).
In the last 30 days, American Tower Corporation’s FFO per share for second-quarter 2017 increased 1.3% to $1.55.
In the last 30 days, Arbor Realty Trust’s FFO per share for second-quarter 2017 remained unchanged at 19 cents.
Equity LifeStyle Properties’ second-quarter 2017 FFO per share estimates decreased 1.2% to 81 cents, in the last 30 days.
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PS Business Parks (PSB) Progresses on Solid Portfolio Mix
We updated our research report on PS Business Parks, Inc. on May 9.
This Glendale, CA-based real estate investment trust (REIT) is engaged in owning, acquiring, developing and operating commercial real estate properties, especially multi-tenant flex, office and industrial. In first-quarter 2017, the company reported funds from operations (FFO) of $1.52 per share, beating the Zacks Consensus Estimate of $1.41. Also, the figure was 20.6% higher than the prior-year quarter figure of $1.26. The rise was attributable to higher net operating income (NOI), lower interest expenses and savings from lower preferred distributions.
In the last 30 days, the company’s second-quarter and full-year 2017 FFO per share estimates moved up. PS Business Parks’ healthy fundamentals in multi-tenant flex, office and industrial asset categories are expected to support its growth going forward.
The company is attempting portfolio repositioning and is aiming at acquiring well-located, underperforming assets at a discount to replacement costs. These acquisitions will help the company emerge stronger amid improving industrial market fundamentals in the U.S. We expect these efforts to help the company in achieving a better portfolio mix going forward.
However, unfavorable conditions in certain markets, intense competition from developers, owners and operators, and rise in interest rate remain concerns for the company.
Shares of PS Business Parks outperformed the Zacks categorized REIT and Equity Trust - Other industry in the last three months. Shares of the company increased 8.3%, whereas the industry gained 0.6%.
Currently, PS Business Parks carries a Zacks Rank #2 (Buy).
Investors interested in the REIT space, may consider stocks like American Tower Corporation (AMT - Free Report) , Arbor Realty Trust, Inc. (ABR - Free Report) and Equity LifeStyle Properties, Inc. (ELS - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the last 30 days, American Tower Corporation’s FFO per share for second-quarter 2017 increased 1.3% to $1.55.
In the last 30 days, Arbor Realty Trust’s FFO per share for second-quarter 2017 remained unchanged at 19 cents.
Equity LifeStyle Properties’ second-quarter 2017 FFO per share estimates decreased 1.2% to 81 cents, in the last 30 days.
Looking for Ideas with Even Greater Upside?
Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information >>