The stock of PS Business Parks, Inc. (NYSE:PSB) is now priced at $131.17 and the shares are -0.3 points down or -0.23% lower compared to its previous closing price of $131.47. The stock had 97074 contracts set over the past session. PSB shares’ daily volume is compared to its average trading volume at 134093 shares. However, it has a float of 20.04 million and although its performance was 0.12% over the week, it’s one to watch. Analysts have given the PSB stock a yearly average price target of $134.67 per share. It means the stock’s upside potential is 2.67% with the PSB share price recently placing at $131 to $134.9. However, some brokerage firms have priced the stock below the average, including one that has called $120.
The shorts are running away from the PS Business Parks, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the PSB shares have declined. Short interest in the stock represents just 1.58% of its float, but the volume has dropped by 0. The volume of shorted shares dropped to from shares over the last two weeks. The average intraday trading volume has been shares, which means that days to cover moved to roughly.
In the last trading session, PS Business Parks, Inc. (NYSE:PSB) raised by $0.16 over the week and lost -$6.02 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $192.13. The stock recorded its established 52-week high on 10/22/19.
Since 03/23/20, the stock has traded to a low of $102.48 at 28%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.44. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, PS Business Parks, Inc.’s two-week RSI is 53.2. This suggests that the stock is neutral at the moment and that PSB shares’ price movement remains stable. The stochastic readings are equally revealing at 54.03% meaning the PSB share price is currently in neutral territory.
The technical chart shows that the PSB stock will likely settle at between $133.71 and $136.26 per share. However, if the stock dips below $129.81, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $128.46.
Currently, the stock is trading in the red of MACD, with a reading of -0.92. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at KeyBanc Capital Markets cut their recommendation for PSB from Sector Weight to Underweight in December 17 review while maintai their target price of $145. Wells Fargo analysts downgraded their recommendation of the stock from Market Perform to Underperform in a flash note released to investors on December 10. Citigroup seeing the improvements upgraded the stock from Sell to Neutral on September 23, placing it at $142 to $180.
The average rating for the PSB equity is 3.5 and is currently gathering a bearish momentum. Of 4 analysts tracking PS Business Parks, Inc. polled by Reuters, 2 rated PSB as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the PSB stock price is 47.53X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for PS Business Parks, Inc. (NYSE:PSB) will decrease by about -99.9%, which will see them reach $102.35 million. The company’s full-year revenues are, however, expected to diminish by about -4.2%, down from $429.85 million to $411.79 million. PSB’s expected adjusted earnings should drop almost -30.49% to end up at $0.57 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -8.08% to record $3.07/share.