PS Business Parks, Inc. Reports Results for the Quarter and Year Ended December 31, 2020
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, 2020.Operating Results for the Three Months and Year Ended December 31, 2020Net income allocable to common shareholders for the three months and year ended December 31, 2020 was $26.9 million, or $0.98 per diluted common share, and $124.6 million, or $4.52 per diluted common share, respectively. Net operating income (“NOI”) attributable to the Company’s Same Park portfolio (defined below) was $68.0 million and $270.8 million for the three months and year ended December 31, 2020, respectively, representing decreases of 3.0% and 0.6% over the same periods in 2019, respectively.The Company also reports NOI on a cash basis, which excludes non-cash rental income such as amortization of deferred rent receivable and other non-cash items, and also excludes rents that have been deferred or abated during the period. Same Park Cash NOI was $69.2 million
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