Investment Thesis
PS Business Parks (PSB) has seen its share of volatility over the past 3 months as it feels the impacts of the pandemic in its portfolio of industrial and office properties. While the share price has recovered somewhat and the company reported an overall strong Q1, I believe there are a number of near-term headwinds that are not fully baked in. Let’s dig in.
Source: Company Website
Brief Overview
PS Business Parks is one of the largest landlords focused on owning industrial, flex office/warehouse, and office space. It has 27.5 million