Post Properties Inc. (PPS) Reaches New 1-Year High at $69.39
Post Properties Inc. (NYSE:PPS) shares reached a new 52-week high on Monday . The company traded as high as $69.39 and last traded at $67.50, with a volume of 2,439,255 shares changing hands. The stock had previously closed at $62.22.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Post Properties from a “buy” rating to a “hold” rating in a report on Friday. Citigroup Inc. raised their price target on shares of Post Properties from $62.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, August 5th. Cantor Fitzgerald restated a “hold” rating on shares of Post Properties in a report on Monday, August 1st. Zelman & Associates downgraded shares of Post Properties from a “hold” rating to a “sell” rating in a report on Wednesday, June 22nd. Finally, Deutsche Bank AG cut their price target 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Post Properties has a consensus rating of “Hold” and a consensus target price of $62.90.
The stock has a 50 day moving average of $62.00 and a 200-day moving average of $59.14. The company has a market cap of $3.63 billion and a P/E ratio of 46.22.
Post Properties (NYSE:PPS) last released its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. The company earned $99.70 million during the quarter, compared to analyst estimates of $99.30 million. During the same quarter last year, the company earned $0.74 EPS. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts predict that Post Properties Inc. will post $3.22 earnings per share for the current fiscal year.
In other news, EVP David C. Ward sold 3,632 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $60.79, for a total value of $220,789.28. Following the sale, the executive vice president now owns 25,987 shares of the company’s stock, valued at $1,579,749.73. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David C. Ward sold 3,220 shares of the business’s stock in a transaction on Friday, May 20th. The stock was sold at an average price of $60.00, for a total transaction of $193,200.00. Following the completion of the sale, the executive vice president now directly owns 29,207 shares in the company, valued at approximately $1,752,420. The disclosure for this sale can be found here.
Other hedge funds have made changes to their positions in the company. American International Group Inc. raised its stake 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. Matarin Capital Management LLC purchased a new stake in Post Properties during the fourth quarter valued at about $4,143,000. Cornerstone Capital Management Holdings LLC. raised its stake 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 purchased a new stake in 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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