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PS Business Parks Inc.

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Shares of PS Business Parks have outperformed the industry it belongs to, in the past three months. Further, the trend in estimate revisions for current-year funds from operations (FFO) per share indicates solid outlook for the company. PS Business Parks has recently enhanced its industrial portfolio in Northern Virginia by purchasing Fullerton Industrial Park and Northern Virginia Industrial Park in Springfield, VA. The company shelled out $143.3 million for the acquisition of this 1.1-million-square-foot multi-tenant industrial portfolio which comprises 19 buildings on 65 acres of land. Notably, healthy fundamentals in the multi-tenant flex, office and industrial asset categories are anticipated to stoke growth in the near-to-medium term. In addition, the company’s financial flexibility keeps us optimistic. Nonetheless, supply is rising in certain submarkets and this could cast a pall on the company’s growth momentum.

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