Post Properties Inc. (PPS) Hits New 12-Month High at $62.87
Post Properties Inc. (NYSE:PPS) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $62.87 and last traded at $62.68, with a volume of 138,743 shares trading hands. The stock had previously closed at $62.40.
A number of brokerages have recently issued reports on PPS. Cantor Fitzgerald reissued a “hold” rating and issued a $61.50 target price on shares of Post Properties in a research report on Monday. Zelman & Associates cut shares of Post Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. Zacks Investment Research raised shares of Post Properties from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Thursday, June 16th. Finally, Deutsche Bank AG cut their price objective on shares of Post Properties from $61.00 to $60.00 and set a “hold” rating for the company in a research report on Friday, May 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Post Properties presently has an average rating of “Hold” and an average target price of $62.89.
The stock has a market capitalization of $3.36 billion and a P/E ratio of 44.20. The stock’s 50-day moving average is $59.98 and its 200-day moving average is $58.46.
Post Properties (NYSE:PPS) last announced its earnings results on Monday, May 2nd. The real estate investment trust reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. The business had revenue of $98.50 million for the quarter, compared to analyst estimates of $97.36 million. Post Properties’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. On average, analysts expect that Post Properties Inc. will post $3.20 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $1.88 annualized dividend and a dividend yield of 3.01%.
In other news, insider Sheila J. Teabo sold 2,080 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $61.17, for a total transaction of $127,233.60. Following the completion of the sale, the insider now owns 37,703 shares in the company, valued at $2,306,292.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Arthur J. Quirk sold 4,340 shares of the stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $60.69, for a total transaction of $263,394.60. Following the sale, the chief accounting officer now owns 17,657 shares of the company’s stock, valued at approximately $1,071,603.33. The disclosure for this sale can be found here.
Several large investors have made changes to their positions in PPS. PNC Financial Services Group Inc. acquired a new stake in shares of Post Properties during the fourth quarter valued at $1,069,000. State Treasurer State of Michigan purchased a new stake in shares of Post Properties during the fourth quarter worth approximately $1,266,000. TD Asset Management Inc. increased its stake in shares of Post Properties by 29.6% in the fourth quarter. TD Asset Management Inc. now owns 21,900 shares of the real estate investment trust’s stock worth $1,296,000 after buying an additional 5,000 shares during the last quarter. Green Street Investors LLC increased its stake in shares of Post Properties by 38.3% in the fourth quarter. Green Street Investors LLC now owns 22,400 shares of the real estate investment trust’s stock worth $1,325,000 after buying an additional 6,200 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Post Properties by 31.6% in the fourth quarter. ProShare Advisors LLC now owns 24,544 shares of the real estate investment trust’s stock worth $1,452,000 after buying an additional 5,890 shares during the last quarter.
Post Properties, Inc is a self-administrated and self-managed equity real estate investment trust (REIT). The Company’s segments include Fully stabilized (same store) communities, which includes apartment communities that have been stabilized for both the current and prior year; Newly stabilized communities, which includes communities that reached stabilized occupancy in the prior year; Lease-up communities, which includes communities that are under development, rehabilitation and in lease-up but were not stabilized by the beginning of the current year, including communities that stabilized during the current year; Acquired communities, which include communities acquired in the current or prior year, and Held for sale and sold communities, which include apartment and mixed-use communities classified as held for sale or sold.
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