Why PS Business Parks Soared in 2021

The past year was a particularly good one for shareholders of PS Business Parks (NYSE: PSB), a mixed-use real estate investment trust (REIT) that saw its stock jump 38.6% in 2021, according to data provided by S&P Global Market Intelligence. The dividend gives it a year-over-year total return of nearly 44% -- not bad at all for a relatively conservative real estate investment. PS Business Parks' portfolio contains 97 properties located primarily in major coastal markets; they're a mix of multi-tenant industrial, industrial-flex (space designed for mixed office and industrial use), and low-rise suburban office buildings, as well as 800 residential units.