PS Business Parks, Inc. Reports Results for the Quarter and Year Ended December 31, 2018
PS Business Parks, Inc. (MD) (PSB)
Last ps business parks, inc. (md) earnings: 10/22 05:08 pm
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US:NYSE Investor Relations:
psbusinessparks.com/investor-relations
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Source: Business Wire
GLENDALE, Calif.--(BUSINESS WIRE)-- PS Business Parks, Inc. (NYSE:PSB) reported operating results for the quarter and year ended December 31, 2018. Operating Results for the Three Months Ended December 31, 2018 Net income allocable to common shareholders was $31.5 million, or $1.15 per diluted common share, for the three months ended December 31, 2018, an increase of $10.3 million, or 48.9%, from $21.2 million, or $0.77 per diluted common share, for the same period in 2017. The increase was mainly due to the gain on the sale of an office park in Orange County, California, a charge related to the redemption of preferred stock incurred during the fourth quarter of 2017 that did not recur in the fourth quarter of 2018 and an increase in net operating income (“NOI”–described below) with respect to our real estate facilities. The increase in NOI includes a $2.7 million increase, or 4.0%, for our Same
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