Post Properties Inc. (PPS) Trading Down 1.8%
Post Properties Inc. (NYSE:PPS) was down 1.8% during mid-day trading on Thursday . The stock traded as low as $61.52 and last traded at $61.57, with a volume of 153,578 shares. The stock had previously closed at $62.68.
Several research analysts have recently weighed in on PPS shares. Zacks Investment Research upgraded shares of Post Properties from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Friday, April 15th. Zelman & Associates lowered shares of Post Properties from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. Deutsche Bank AG cut their price objective on shares of Post Properties from $61.00 to $60.00 and set a “hold” rating on the stock in a report on Friday, May 13th. Cantor Fitzgerald reiterated a “hold” rating on shares of Post Properties in a report on Saturday, June 4th. Finally, Citigroup Inc. increased their price objective on shares of Post Properties from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $62.90.
The stock has a market cap of $3.31 billion and a P/E ratio of 42.08. The stock’s 50 day moving average price is $61.90 and its 200-day moving average price is $59.10.
Post Properties (NYSE:PPS) last issued its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.03. During the same period in the prior year, the business posted $0.74 EPS. The company earned $99.70 million during the quarter, compared to analysts’ expectations of $99.30 million. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts forecast that Post Properties Inc. will post $3.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders 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 yield of 3.04%.
In other Post Properties news, CFO Christopher J. Papa sold 26,650 shares of Post Properties stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $60.59, for a total transaction of $1,614,723.50. Following the transaction, the chief financial officer now owns 35,662 shares of the company’s stock, valued at approximately $2,160,760.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sheila J. Teabo sold 2,080 shares of Post Properties stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $61.17, for a total value of $127,233.60. Following the transaction, the insider now directly owns 37,703 shares in the company, valued at approximately $2,306,292.51. The disclosure for this sale can be found here.
A number of institutional investors have added to or reduced their stakes in the stock. American International Group Inc. boosted its position in Post Properties by 1,120.4% in the fourth quarter. American International Group Inc. now owns 104,677 shares of the real estate investment trust’s stock valued at $6,193,000 after buying an additional 96,100 shares during the period. Matarin Capital Management LLC acquired a new position in Post Properties during the fourth quarter valued at $4,143,000. Cornerstone Capital Management Holdings LLC. boosted its position in Post Properties by 63.6% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 51,893 shares of the real estate investment trust’s stock valued at $3,070,000 after buying an additional 20,167 shares during the period. Finally, Mutual of America Capital Management LLC acquired a new position in Post Properties during the fourth quarter valued at $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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