PS Business Parks, Inc.
PSB-PY
New York Stock Exchange11.95
USD
- -
- -
CIK
0000866368
ISIN
US69360J5781
CUSIP
69360J578
Return %
Stock
S&P500
1Y
-49.71
26.84
3Y
-55.31
77.03
5Y
-48.25
80.55
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Stephen W. Wilson
- Full Time Employees
- 156
- Sector
- Real Estate
- Industry
- REIT - Diversified
- Address
- 701 Western Avenue Glendale CA United States of America 91201
- IPO Date
- Dec 1, 2017
- CIK
- 0000866368
- Website
- psbusinessparks.com
- Similar Companies
- Business
- PS Business Parks, Inc. PS Business Parks, Inc. (NYSE:PSB-PY), a former self-managed real estate investment trust (REIT), acquires, develops, owns and operates commercial properties, primarily multi-tenant industrial, flex, industrial-flex and low-rise suburban office space; its portfolio previously encompassed approximately 97 properties totaling 28 million rentable square feet serving around 5,000 tenants, plus multifamily residential units including a 395-unit complex and a 411-unit development in Tysons, Virginia. The company concentrates operations in six states across major coastal and metropolitan markets, including California, Texas, Virginia, Florida, Maryland and Washington. Founded in 1990 as a division of Public Storage and spun off as a public entity in 1998, PS Business Parks maintains headquarters in Glendale, California, with additional offices in locations such as Lake Forest, California; Tysons, Virginia; Carrollton and Austin, Texas; Doral, Florida; and Redmond, Washington. In a transformative development completed on July 20, 2022, affiliates of Blackstone Real Estate acquired PS Business Parks for $7.6 billion in an all-cash transaction at $187.50 per share, integrating its 27 million square foot portfolio of industrial, business park, office and multifamily assets into Blackstone's platform, specifically Link Logistics Real Estate Master, L.P., which rebranded portions as Link Parks. Subsequent to the acquisition, Link Parks, Inc. (f/k/a PS Business Parks, Inc.) managed tender offers for its preferred stock series, which expired unaccepted on September 27, 2023, leaving legacy preferred shares like Series Y (PSB.PRY) and Series Z (PSB-PY) outstanding and trading. Prior notable expansions included the 2011 purchase of a 5.34 million-square-foot Northern California portfolio for $520 million from a Deutsche Bank subsidiary, the 2018 acquisition of Northern Virginia industrial properties for $143 million, and the 2002 buyout of Metro Park North in Maryland for $125 million.
Delisting Risk: A Growing Concern For Preferred Stock Investors