Overview
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2021
Where the money goes
Where each dollar of revenue went, fiscal 2021
- Income tax1¢$3.6M
- Profit99¢$448.8M
Out of $439.2M in revenue.3
Where each dollar of operating cash went, fiscal 2021
- Dividends paid80¢$242.6M
- Kept or used elsewhere20¢$59.6M
Out of $302.2M of cash from operations.3
Financial statements
No quarterly figures reported.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|
| Revenue | $387.4M4 | $402.2M5 | $413.5M6 | $429.8M7 | $415.6M3 | $439.2M3 |
| Operating expenses | $243.8M3 | |||||
| Operating income | $149.4M8 | $172.9M8 | ||||
| Income before tax | $556.6M3 | |||||
| Income tax | $04 | $09 | $05 | $03 | $3.6M3 | |
| Net income | $128.0M9 | $155.0M5 | $226.7M6 | $175.0M7 | $173.5M3 | $448.8M3 |
| Earnings per share | $2.329 | $3.325 | $6.336 | $3.967 | $4.543 | $14.283 |
| Earnings per share (diluted) | $2.319 | $3.305 | $6.316 | $3.957 | $4.523 | $14.223 |
| Shares (weighted, basic) | 27.5M shares3 | |||||
| Shares (weighted, diluted) | 27.6M shares3 |
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|
| Cash | $128.6M9 | $114.9M5 | $37.4M6 | $62.8M7 | $69.1M3 | $27.1M3 |
| Intangible assets | ||||||
| Total assets | $2.1B8 | $2.1B9 | $2.1B5 | $2.0B6 | $2.1B7 | $2.1B3 |
| Long-term debt | $32.0M3 | |||||
| Total liabilities | $308.7M8 | $210.2M9 | $85.1M5 | $84.6M6 | $82.1M7 | $129.2M3 |
| Retained earnings | $226.7M3 | |||||
| Shareholders’ equity | $1.6B8 | $1.7B9 | $1.8B5 | $1.7B6 | $1.8B7 | $1.7B3 |
| Shares outstanding | 27.1M shares8 | 27.3M shares9 | 27.4M shares5 | 27.4M shares6 | 27.5M shares7 | 27.6M shares3 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|
| Cash from operations | $250.5M9 | $271.6M5 | $276.2M6 | $290.6M7 | $277.0M3 | $302.2M3 |
| Depreciation and amortization | $93.5M3 | |||||
| Stock-based compensation | $8.5M3 | |||||
| Cash from investing | $169.4M3 | |||||
| Dividends paid | $81.3M9 | $92.5M5 | $103.8M6 | $115.2M7 | $115.4M3 | $242.6M3 |
| Share buybacks | $03 | $03 | ||||
| Cash from financing | -$513.6M3 | |||||
| Dividend per share | $0.755 | $3.405 | $3.806 | $4.207 | $4.203 | $8.803 |
Corporate structure
PS BUSINESS PARKS, INC./MD sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of PS BUSINESS PARKS, INC./MD
- PRICE T ROWE ASSOCIATES INC /MD/ Filed SC 13G/A on PS BUSINESS PARKS, INC./MD, latest Feb 14, 2022
- VANGUARD GROUP INC Filed SC 13G/A on PS BUSINESS PARKS, INC./MD, latest Feb 10, 2022
- Wellington Management Company Filed SC 13G/A on PS BUSINESS PARKS, INC./MD, latest Feb 4, 2022
- PS BUSINESS PARKS, INC./MD Glendale, California
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What PS BUSINESS PARKS, INC./MD reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Land | $1.9B3 Dec 31, 2022 | $764.0M3 Dec 31, 2021 | +151.5% |
| Buildings and improvements | $2.2B7 Dec 31, 2021 | $2.1B7 Dec 31, 2020 | +7.6% |
| Property and equipment, before depreciation | $1.8B3 Dec 31, 2022 | ||
| Accumulated depreciation | $1.2B7 Dec 31, 2021 | $1.1B7 Dec 31, 2020 | +7.0% |
| Operating-lease assets (leased space) | $1.3M7 Dec 31, 2021 | $1.5M7 Dec 31, 2020 | −13.3% |
Real estate and locations
| Item | Latest | A year before | Change |
|---|---|---|---|
| Real estate investments, net | $5.6B3 Dec 31, 2022 | $2.0B3 Dec 31, 2021 | +177.0% |
| Real estate investments, at cost | $5.7B3 Dec 31, 2022 | $3.2B3 Dec 31, 2021 | +78.9% |
| Real estate accumulated depreciation | $138.2M3 Dec 31, 2022 | $1.2B3 Dec 31, 2021 | −88.3% |
| Units in real estate properties | 4113 Dec 31, 2022 |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $51.6M3 Dec 31, 2022 | $27.1M3 Dec 31, 2021 | +90.6% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finite-lived intangibles, net | $228.4M3 Dec 31, 2022 |
Leadership
Who has led PS BUSINESS PARKS, INC./MD, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerLuke J. Petherbridge Jul 29, 2022 to Jul 29, 202212
- Chief executive officerJohn W. Petersen Mar 3, 2021 to Mar 17, 202113
- Chief executive officerDan M. Chandler Iii. Apr 7, 2021 to Apr 8, 202114
- Chief executive officerMaria R. Hawthorne Jul 5, 2016 to Jul 6, 202015
- Chief executive officerRonald L. Havner Jr. Jan 25, 2010 to Jan 25, 201016
- Chief executive officerJoseph D. Russell Jr. Mar 29, 2006 to Mar 17, 201617
- PresidentNicholas L. Pell Jul 29, 2022 to Jul 29, 202218
- PresidentJohn W. Petersen Mar 3, 2021 to Mar 17, 202113
- PresidentDan M. Chandler Iii. Apr 7, 2021 to Apr 8, 202114
- PresidentMaria R. Hawthorne Sep 10, 2015 to Jul 6, 202019
- PresidentJoseph D. Russell Jr. Mar 29, 2006 to Jun 15, 201517
- Chief financial officerAdeel Khan Jan 11, 2022 to Jul 20, 202220
- Chief financial officerJeffrey D. Hedges Sep 18, 2018 to Oct 5, 202121
- Chief financial officerEdward A. Stokx Mar 29, 2006 to May 10, 201722
- Chief financial officerJoseph E. Miller Mar 29, 2006 to Mar 29, 200623
- Chief operating officerMaria R. Hawthorne Jul 20, 2022 to Jul 20, 202224
- Chief operating officerJohn W. Petersen Dec 1, 2006 to Mar 17, 202125
Board members and other officers (30)
- OfficerMatthew Louis Ostrower Jul 29, 2022 to Jul 29, 202226
- SVP, CAO & Asst. Sec.Trenton Groves Sep 18, 2018 to Jul 20, 202227
- Vice chairRonald L. Havner Jr. Jan 25, 2010 to Jan 25, 201016
- Senior Vice PresidentM. Brett Franklin Jan 11, 2006 to Apr 2, 200928
- Senior Vice PresidentMaria R. Hawthorne Jan 11, 2006 to Mar 18, 201529
- Executive Vice PresidentJohn W. Petersen Mar 29, 2006 to Mar 29, 200630
- Sr. VP, Business OperationsJoseph E. Miller Aug 15, 2006 to Jan 12, 200731
- Board memberAndrea Drasites Jul 29, 2022 to Jul 29, 202232
- Board memberDavid Eric Levine Jul 29, 2022 to Jul 29, 202233
- Board memberErnest Michael Freedman Jul 29, 2022 to Jul 29, 202234
- Board memberJustin A. Brown Jul 29, 2022 to Jul 29, 202235
- Board memberRyan Ingle Jul 29, 2022 to Jul 29, 202236
- Board memberSamantha Wallack Jul 29, 2022 to Jul 29, 202237
- Board memberTimothy J. Beaudin Jul 29, 2022 to Jul 29, 202238
- Board memberIrene H. Oh Apr 22, 2021 to Jul 20, 202239
- Board memberKristy Pipes Jul 25, 2019 to Jul 20, 202240
- Board memberMaria R. Hawthorne Jul 5, 2016 to Jul 20, 202215
- Board memberRobert S. Rollo Oct 10, 2013 to Jul 20, 202241
- Board memberGary E. Pruitt Feb 22, 2012 to Jul 20, 202242
- Board memberSara Grootwassink Lewis Feb 26, 2010 to Jun 18, 201843
- Board memberRonald L. Havner Jr. Jan 20, 2009 to Jul 20, 202244
- Board memberJennifer Holden Dunbar Feb 25, 2009 to Jul 20, 202245
- Board memberVern O. Curtis Jan 31, 2006 to Nov 3, 200646
- Board memberR. Wesley Burns Feb 8, 2006 to Mar 2, 201247
- Board memberJoseph D. Russell Jr. Mar 29, 2006 to Jul 20, 202217
- Board memberAlan K. Pribble May 2, 2006 to May 4, 200948
- Board memberArthur M. Friedman May 2, 2006 to Mar 1, 201249
- Board memberJames H. Kropp May 2, 2006 to Jun 30, 202150
- Board memberHarvey Lenkin May 3, 2006 to Oct 8, 201051
- Board memberGee Michael Mc V. Aug 25, 2006 to Apr 30, 201552
Former names
Timeline
- Jul 29, 2022New chief executive Luke J. Petherbridge becomes CEO12
- Jul 22, 20228-K Entered a material agreement; Ended a material agreement; Completed an acquisition or sale53
- Jul 19, 20228-K Results of operations54
- Jul 15, 20228-K Shareholder vote; Other events55
- Jul 8, 20228-K Other events56
- Jul 5, 20228-K Other events57
- May 27, 20228-K Other events58
- May 2, 20228-K Shareholder vote59
- May 2, 20228-K Results of operations60
- Apr 25, 20228-K Entered a material agreement; Executive or director change; Bylaws or fiscal year changed61
- Apr 5, 20228-K Executive or director change; Regulation FD disclosure62
- Mar 23, 20228-K Executive or director change; Regulation FD disclosure63
- Feb 22, 20228-K Results of operations64
- Apr 7, 2021New chief executive Dan M. Chandler Iii. becomes CEO14
- Mar 3, 2021New chief executive John W. Petersen becomes CEO13
- Jul 5, 2016New chief executive Maria R. Hawthorne becomes CEO15
- Jan 25, 2010New chief executive Ronald L. Havner Jr. becomes CEO16
- Mar 29, 2006New chief executive Joseph D. Russell Jr. becomes CEO17
Calendar
When it reported results
- Jul 19, 2022Reported quarterly or annual results54
- May 2, 2022Reported quarterly or annual results60
- Feb 22, 2022Reported quarterly or annual results64
- Oct 28, 2021Reported quarterly or annual results65
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
92 filings to the SEC since October 2021: 2 annual reports, 4 quarterly reports, 19 major events, 38 insider forms, 5 large holders, 24 other. The latest 20:
- Feb 28, 202310-K EDGAR
- Jan 13, 202315-12G EDGAR
- Jan 3, 2023POSASR EDGAR
- Jan 3, 202325 EDGAR
- Dec 21, 2022SC TO-I/A EDGAR
- Nov 22, 2022SC TO-I EDGAR
- Nov 8, 202210-Q EDGAR
- Aug 2, 202215-12G EDGAR
- Jul 29, 20223 FORM 3 SUBMISSION EDGAR
- Jul 29, 20223 FORM 3 SUBMISSION EDGAR
- Jul 29, 20223 FORM 3 SUBMISSION EDGAR
- Jul 29, 20223 FORM 3 SUBMISSION EDGAR
- Jul 29, 20223 FORM 3 SUBMISSION EDGAR
- Jul 29, 20223 FORM 3 SUBMISSION EDGAR
- Jul 29, 20223 FORM 3 SUBMISSION EDGAR
- Jul 29, 20223 FORM 3 SUBMISSION EDGAR
- Jul 29, 20223 FORM 3 SUBMISSION EDGAR
- Jul 29, 20223 FORM 3 SUBMISSION EDGAR
- Jul 22, 20228-K EDGAR
- Jul 20, 20224 EDGAR
The 92 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
2 open-market trades by officers, directors and large owners since October 2021: 0 buys and 2 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Dec 6, 2021 | DUNBAR JENNIFER HOLDENDirector | Sale | 6,068 | $178.91 | $1.1M | Form 4 |
| Nov 16, 2021 | HAWTHORNE MARIA RInterim COO | Sale | 15,000 | $176.57 | $2.6M | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- PRICE T ROWE ASSOCIATES INC /MD/SC 13G/A, 1 filing Feb 14, 202266
- VANGUARD GROUP INCSC 13G/A, 1 filing Feb 10, 202267
- Wellington Management CompanySC 13G/A, 1 filing Feb 4, 202268
SEC filer profile
How PS BUSINESS PARKS, INC./MD is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARPS BUSINESS PARKS, INC./MD1
- CIK0000866368
- Employer ID (EIN)95-43008811
- Filer statusLarge accelerated filer1
- Incorporated inMaryland1
- Fiscal year endsDecember 311
- Industry code (SIC)6798 Real Estate Investment Trusts1
- Business address701 Western Ave, Glendale, CA 912011
- Phone(818) 244-80801
- Shares outstanding100 as of Feb 27, 20233
- Public float$3.8B as of Jun 30, 20223
- On EDGAR sinceMay 13, 19961
- Filings1,480 in all: 4 (670), 8-K (270), 10-Q (81), SC 13G/A (66), 424B5 (42), 3 (32), DEF 14A (25), SC 13G (22)1
All 53 form types
10-K (21), 8-A12B (20), 11-K (19), 8-K/A (17), 25-NSE (16), UPLOAD (16), 4/A (15), ARS (13), FWP (13), CORRESP (10), DEFA14A (10), S-8 POS (10), SC 13D/A (10), CERTAMX (8), CERTNYS (8), 10-K405 (6), S-8 (6), S-3ASR (5), S-3 (4), 25 (3), 8-A12B/A (3), POSASR (3), PRE 14A (3), S-3/A (3), SC 13D (3), 10-K/A (2), 10-Q/A (2), 15-12G (2), 424B2 (2), 424B3 (2), 5 (2), CERT (2), 10-K405/A (1), 11-K/A (1), 3/A (1), 424B4 (1), 8-K12G3 (1), DEFM14A (1), EFFECT (1), NT 11-K (1), PREM14A (1), S-4 (1), S-4/A (1), SC TO-I (1), SC TO-I/A (1)
- Latest filingsAnnual report (10-K) Feb 28, 2023
Quarterly report (10-Q) Nov 8, 2022
Proxy statement (DEF 14A) Mar 25, 2022
Latest 8-K (8-K) Jul 22, 2022
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 18SEC EDGARNicholas L. Pell, President
- 19SEC EDGARMaria R. Hawthorne, President
- 20SEC EDGARAdeel Khan, Chief financial officer
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- 26SEC EDGARMatthew Louis Ostrower, Officer
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- 32SEC EDGARAndrea Drasites, Board member
- 33SEC EDGARDavid Eric Levine, Board member
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- 35SEC EDGARJustin A. Brown, Board member
- 36SEC EDGARRyan Ingle, Board member
- 37SEC EDGARSamantha Wallack, Board member
- 38SEC EDGARTimothy J. Beaudin, Board member
- 39SEC EDGARIrene H. Oh, Board member
- 40SEC EDGARKristy Pipes, Board member
- 41SEC EDGARRobert S. Rollo, Board member
- 42SEC EDGARGary E. Pruitt, Board member
- 43
- 44SEC EDGARRonald L. Havner Jr., Board member
- 45SEC EDGARJennifer Holden Dunbar, Board member
- 46SEC EDGARVern O. Curtis, Board member
- 47SEC EDGARR. Wesley Burns, Board member
- 48SEC EDGARAlan K. Pribble, Board member
- 49SEC EDGARArthur M. Friedman, Board member
- 50SEC EDGARJames H. Kropp, Board member
- 51SEC EDGARHarvey Lenkin, Board member
- 52SEC EDGARGee Michael Mc V., Board member
- 53
- 54SEC EDGARResults of operations
- 55SEC EDGARShareholder vote; Other events
- 56SEC EDGAROther events
- 57SEC EDGAROther events
- 58SEC EDGAROther events
- 59SEC EDGARShareholder vote
- 60SEC EDGARResults of operations
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- 64SEC EDGARResults of operations
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