Post Properties Inc. (PPS) Stake Increased by Vanguard Group Inc.
Vanguard Group Inc. boosted its stake in Post Properties Inc. (NYSE:PPS) by 1.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,242,968 shares of the real estate investment trust’s stock after buying an additional 119,814 shares during the period. Vanguard Group Inc. owned approximately 15.41% of Post Properties worth $503,233,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Group LTD boosted its position in Post Properties by 2.7% in the first quarter. BlackRock Group LTD now owns 396,002 shares of the real estate investment trust’s stock valued at $23,658,000 after buying an additional 10,501 shares during the period. Bank of Montreal Can purchased a new position in Post Properties during the second quarter valued at approximately $15,606,000. Renaissance Technologies LLC boosted its position in Post Properties by 125.9% in the first quarter. Renaissance Technologies LLC now owns 452,300 shares of the real estate investment trust’s stock valued at $27,020,000 after buying an additional 252,100 shares during the period. State Street Corp boosted its position in Post Properties by 1.6% in the first quarter. State Street Corp now owns 2,362,949 shares of the real estate investment trust’s stock valued at $141,161,000 after buying an additional 36,643 shares during the period. Finally, Prudential PLC purchased a new position in Post Properties during the first quarter valued at approximately $227,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.
Shares of Post Properties Inc. (NYSE:PPS) traded down 1.74% during midday trading on Monday, hitting $64.98. 213,935 shares of the company traded hands. The stock’s 50-day moving average is $66.49 and its 200 day moving average is $61.64. Post Properties Inc. has a 12-month low of $52.08 and a 12-month high of $69.39. The stock has a market capitalization of $3.48 billion, a P/E ratio of 44.20 and a beta of 0.38.
Post Properties (NYSE:PPS) last released its 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. Post Properties had a return on equity of 6.49% and a net margin of 20.21%. The firm had revenue of $99.70 million for the quarter, compared to analysts’ expectations of $99.30 million. During the same period in the prior year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts expect that Post Properties Inc. will post $3.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Wednesday, September 28th. Post Properties’s payout ratio is currently 127.89%.
Several research analysts have commented on PPS shares. Raymond James Financial Inc. upgraded shares of Post Properties from a “market perform” rating to an “outperform” rating and set a $72.50 target price for the company in a research report on Monday, August 29th. Barclays PLC increased their price objective on shares of Post Properties from $64.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, August 24th. Deutsche Bank AG increased their price objective on shares of Post Properties from $61.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, August 16th. Cantor Fitzgerald reiterated a “hold” rating on shares of Post Properties in a report on Monday, August 1st. Finally, Zacks Investment Research cut shares of Post Properties from a “buy” rating to a “hold” rating in a report on Friday, August 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $64.50.
About Post Properties
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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