PS Business Parks, Inc. Reports Q4 FFO of $0.99 vs. $1.00

PS Business Parks, Inc. PSB reported operating results for the fourth quarter ended December 31, 2010. Net income allocable to common shareholders for the three months ended December 31, 2010 was $8.4 million, or $0.34 per diluted share, on revenues of $71.4 million compared to $9.9 million, or $0.40 per diluted share, on revenues of $67.7 million for the same period in 2009. Net income allocable to common shareholders for the year ended December 31, 2010 was $39.0 million, or $1.58 per diluted share, on revenues of $279.1 million compared to $59.4 million, or $2.68 per diluted share, on revenues of $271.7 million for the same period in 2009. Funds from operations (“FFO”) allocable to common and dilutive shares for the three months ended December 31, 2010 and 2009 were $31.7 million, or $0.99 per common and dilutive share, and $32.7 million, or $1.02 per common and dilutive share, respectively