Post Properties Inc. (PPS) Shares Down 1.2%
Post Properties Inc. (NYSE:PPS) shares traded down 1.2% on Thursday . The company traded as low as $65.88 and last traded at $66.06, with a volume of 851,027 shares trading hands. The stock had previously closed at $66.88.
A number of research analysts have weighed in on the stock. Deutsche Bank AG boosted their target price on shares of Post Properties from $61.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday. Zacks Investment Research cut shares of Post Properties from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Citigroup Inc. boosted their target price on shares of Post Properties from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. Cantor Fitzgerald reiterated a “hold” rating on shares of Post Properties in a research note on Monday, August 1st. Finally, Zelman & Associates cut shares of Post Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $63.40.
The firm has a 50 day moving average price of $62.78 and a 200-day moving average price of $59.44. The stock has a market cap of $3.54 billion and a price-to-earnings ratio of 45.02.
Post Properties (NYSE:PPS) last announced its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The company earned $99.70 million during the quarter, compared to the consensus estimate of $99.30 million. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, equities research analysts forecast 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 Post Properties stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 29,207 shares in the company, valued at $1,752,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Other hedge funds recently made changes to their positions in the company. Matarin Capital Management LLC bought a new stake in shares of Post Properties during the fourth quarter worth approximately $4,143,000. 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. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Post Properties by 13.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 338,155 shares of the real estate investment trust’s stock worth $20,006,000 after buying an additional 39,110 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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