PS Business Parks Q3 Profit Rises - Quick Facts

(RTTNews) - PS Business Parks, Inc. (PSB) reported that its third-quarter net income to shareholders increased to $9.00 million or $0.37 per share, from $5.17 million or $0.21 per share, last year. FFO per share, as reported, was $1.20, compared to $1.06 prior year. FFO, as adjusted, was $1.21, for the quarter.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $1.21 for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues increased to $89.93 million, from $87.18 million, last year. Analysts expected revenue of $88.13 million for the quarter.

The Board of PS Business Parks declared a quarterly dividend of $0.44 per common share on October 28, 2013. Distributions are payable December 30, 2013 to shareholders of record on December 13, 2013.