Post Properties Inc. (PPS) Hits New 12-Month High at $69.39
Post Properties Inc. (NYSE:PPS) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $69.39 and last traded at $67.50, with a volume of 2,439,255 shares trading hands. The stock had previously closed at $62.22.
A number of research analysts have recently issued reports on the company. Deutsche Bank AG increased their target price on Post Properties from $61.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday. Cantor Fitzgerald reiterated a “hold” rating on shares of Post Properties in a research report on Saturday, June 4th. Zacks Investment Research lowered Post Properties from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. Citigroup Inc. increased their target price on Post Properties from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, August 5th. Finally, Zelman & Associates lowered Post Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $63.40.
The company has a market capitalization of $3.53 billion and a price-to-earnings ratio of 44.86. The stock has a 50 day moving average price of $62.48 and a 200 day moving average price of $59.34.
Post Properties (NYSE:PPS) last released its earnings results on Monday, August 1st. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.03. During the same period in the previous year, the firm posted $0.74 EPS. The company earned $99.70 million during the quarter, compared to analyst estimates of $99.30 million. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts anticipate that Post Properties Inc. will post $3.22 earnings per share for the current fiscal year.
In other news, EVP David C. Ward sold 3,220 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $60.00, for a total value of $193,200.00. Following the transaction, the executive vice president now owns 29,207 shares of the company’s stock, valued at $1,752,420. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
A number of hedge funds and institutional investors have made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. raised 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 acquired a new position in shares of Post Properties during the fourth quarter worth $4,143,000. Finally, American International Group Inc. raised 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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