A month has gone by since the last earnings report for PS Business Parks, Inc. . Shares have added about 2.3% in that time frame.
Will the recent positive trend continue leading up to its next earnings release, or is PSB due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
PS Business Parks Q4 FFO Misses Estimate, Revenues Up
PS Business Parks reported fourth-quarter 2017 core FFO of $1.52 per share, missing the Zacks Consensus Estimate by a penny. However, the figure came in 9.4% higher than $1.39 recorded in the prior-year quarter.
The rise on a year-over-year basis stemmed from higher NOI, reduced general and administrative expenses and savings from lower preferred distributions.
Rental income came in around $101.8 million, marking 4.3% growth from the year-ago figure. Additionally, the figure outpaced the Zacks Consensus Estimate of $101.7 million.
For full-year 2017, the company reported core FFO of $6.13 per share, 12.7% higher than the year-ago figure of $5.44. Further, rental income amounted to $402.2 million, up 4% from a year ago.
Quarter in Detail
Same Park rental income was up 5% year over year, while Same Park operating expenses increased 6.9%. As a result, Same Park NOI climbed 4.2% year over year, mainly on the back of improving rental rates.
Annualized Same Park realized rent per-square-foot rose 4.8% year over year to $15.16. Same Park weighted average occupancy in the quarter was 95.1%, up 30 basis points (bps) year over year.
Liquidity
PS Business Parks exited fourth-quarter 2017 with cash and cash equivalents of $114.9 million, lower than the prior-year end tally of $128.6 million.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimate flatlined during the past month. There has been one revision higher for the current quarter compared to one lower.
VGM Scores
At this time, PSB has a nice Growth Score of B, though it is lagging a lot on the momentum front with an F. The stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
The company's stock is suitable solely for growth based on our styles scores.
Outlook
PSB has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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PS Business Parks (PSB) Up 2.3% Since Earnings Report: Can It Continue?
A month has gone by since the last earnings report for PS Business Parks, Inc. . Shares have added about 2.3% in that time frame.
Will the recent positive trend continue leading up to its next earnings release, or is PSB due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
PS Business Parks Q4 FFO Misses Estimate, Revenues Up
PS Business Parks reported fourth-quarter 2017 core FFO of $1.52 per share, missing the Zacks Consensus Estimate by a penny. However, the figure came in 9.4% higher than $1.39 recorded in the prior-year quarter.
The rise on a year-over-year basis stemmed from higher NOI, reduced general and administrative expenses and savings from lower preferred distributions.
Rental income came in around $101.8 million, marking 4.3% growth from the year-ago figure. Additionally, the figure outpaced the Zacks Consensus Estimate of $101.7 million.
For full-year 2017, the company reported core FFO of $6.13 per share, 12.7% higher than the year-ago figure of $5.44. Further, rental income amounted to $402.2 million, up 4% from a year ago.
Quarter in Detail
Same Park rental income was up 5% year over year, while Same Park operating expenses increased 6.9%. As a result, Same Park NOI climbed 4.2% year over year, mainly on the back of improving rental rates.
Annualized Same Park realized rent per-square-foot rose 4.8% year over year to $15.16. Same Park weighted average occupancy in the quarter was 95.1%, up 30 basis points (bps) year over year.
Liquidity
PS Business Parks exited fourth-quarter 2017 with cash and cash equivalents of $114.9 million, lower than the prior-year end tally of $128.6 million.
How Have Estimates Been Moving Since Then?
It turns out, fresh estimate flatlined during the past month. There has been one revision higher for the current quarter compared to one lower.
PS Business Parks, Inc. Price and Consensus
PS Business Parks, Inc. Price and Consensus | PS Business Parks, Inc. Quote
VGM Scores
At this time, PSB has a nice Growth Score of B, though it is lagging a lot on the momentum front with an F. The stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
The company's stock is suitable solely for growth based on our styles scores.
Outlook
PSB has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.