Post Properties Inc. (PPS) Stock Price Down 1.8%
Post Properties Inc. (NYSE:PPS) shares fell 1.8% on Thursday . The company traded as low as $61.52 and last traded at $61.57, with a volume of 153,578 shares changing hands. The stock had previously closed at $62.68.
A number of brokerages have weighed in on PPS. Zacks Investment Research lowered shares of Post Properties from a “buy” rating to a “hold” rating in a research note on Friday. Cantor Fitzgerald reissued a “hold” rating on shares of Post Properties in a research report on Saturday, June 4th. 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 research report on Friday, May 13th. Citigroup Inc. boosted their price objective on shares of Post Properties from $62.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. Finally, Zelman & Associates lowered shares of Post Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $62.90.
The company’s 50-day moving average is $62.00 and its 200-day moving average is $59.14. The company has a market cap of $3.33 billion and a PE ratio of 42.33.
Post Properties (NYSE:PPS) last announced its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.82 EPS for the quarter, topping the consensus estimate of $0.79 by $0.03. The company had revenue of $99.70 million for the quarter, compared to analyst estimates of $99.30 million. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. Analysts predict that Post Properties Inc. will post $3.22 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Tuesday, June 28th.
In other news, insider Sheila J. Teabo sold 2,080 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,306,292.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David C. Ward sold 3,632 shares of the firm’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $60.79, for a total transaction of $220,789.28. Following the sale, the executive vice president now directly owns 25,987 shares of the company’s stock, valued at approximately $1,579,749.73. The disclosure for this sale can be found here.
Several hedge funds recently made changes to their positions in the company. Mutual of America Capital Management LLC bought a new stake in shares of Post Properties during the fourth quarter valued at approximately $2,185,000. Cornerstone Capital Management Holdings LLC. boosted its position in shares of 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 worth $3,070,000 after buying an additional 20,167 shares in the last quarter. Matarin Capital Management LLC purchased a new position in shares of Post Properties during the fourth quarter worth about $4,143,000. Finally, American International Group Inc. boosted its position in shares of 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 worth $6,193,000 after buying an additional 96,100 shares in 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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