Post Properties Inc. (PPS) Sets New 12-Month High at $63.99
Post Properties Inc. (NYSE:PPS) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $63.99 and last traded at $63.67, with a volume of 171,755 shares traded. The stock had previously closed at $62.20.
A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $61.50 price objective on shares of Post Properties in a research report on Monday, July 18th. Zelman & Associates downgraded shares of Post Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. Deutsche Bank AG reduced 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. Finally, Zacks Investment Research downgraded shares of Post Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $62.89.
The company has a 50-day moving average of $60.82 and a 200-day moving average of $58.69. The firm has a market capitalization of $3.40 billion and a P/E ratio of 44.78.
Post Properties (NYSE:PPS) last issued its quarterly earnings results on Monday, May 2nd. The real estate investment trust reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. During the same period last year, the business earned $0.70 earnings per share. The business had revenue of $98.50 million for the quarter, compared to analysts’ expectations of $97.36 million. The company’s revenue was up 5.5% on a year-over-year basis. On average, analysts predict that Post Properties Inc. will post $3.20 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, June 28th. This represents a $1.88 dividend on an annualized basis and a yield of 2.96%.
In other Post Properties news, EVP David C. Ward sold 3,220 shares of Post Properties stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $60.00, for a total value of $193,200.00. Following the completion of the transaction, the executive vice president now directly owns 29,207 shares of the company’s stock, valued at $1,752,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Arthur J. Quirk sold 4,340 shares of Post Properties 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 completion of the transaction, the chief accounting officer now directly owns 17,657 shares of the company’s stock, valued at $1,071,603.33. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently modified their holdings of PPS. PNC Financial Services Group Inc. purchased a new position in shares of Post Properties during the fourth quarter valued at about $1,069,000. TD Asset Management Inc. boosted its position 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 valued at $1,296,000 after buying an additional 5,000 shares during the period. GSA Capital Partners LLP boosted its position in shares of Post Properties by 756.2% in the fourth quarter. GSA Capital Partners LLP now owns 29,582 shares of the real estate investment trust’s stock valued at $1,750,000 after buying an additional 26,127 shares during the period. Liberty Mutual Group Asset Management Inc. purchased a new position in shares of Post Properties during the fourth quarter valued at about $2,082,000. Finally, Mutual of America Capital Management LLC purchased a new position in shares of Post Properties during the fourth quarter valued at about $2,185,000.
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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