Post Properties Inc. (PPS) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Post Properties Inc. (NYSE:PPS) from a hold rating to a buy rating in a report published on Thursday. They currently have $69.00 target price on the real estate investment trust’s stock.
According to Zacks, “Post Properties, Inc. is one of the largest developers and operators of upscale multifamily apartment communities in the Southeastern and Southwestern United States. The company owns a number of stabilized communities containing apartment units located primarily in metropolitan Atlanta, Georgia; Dallas, Texas and Tampa, Florida. “
A number of other equities analysts have also recently issued reports on the stock. Raymond James Financial Inc. upgraded shares of Post Properties from a market perform rating to an outperform rating and set a $72.50 price objective for the company in a research note on Monday, August 29th. Zelman & Associates cut shares of Post Properties from a hold rating to a sell rating in a research report on Wednesday, June 22nd. Cantor Fitzgerald reiterated a hold rating on shares of Post Properties in a research report on Monday, August 1st. Barclays PLC increased their target price on shares of Post Properties from $64.00 to $65.00 and gave the stock an equal weight rating in a research report on Wednesday, August 24th. Finally, Deutsche Bank AG increased their target price on shares of Post Properties from $61.00 to $65.00 and gave the stock a hold rating in a research report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Post Properties presently has an average rating of Hold and a consensus price target of $64.77.
Post Properties (NYSE:PPS) traded down 1.55% during midday trading on Thursday, reaching $60.41. 173,732 shares of the company traded hands. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 41.10 and a beta of 0.38. Post Properties has a 12 month low of $52.08 and a 12 month high of $69.39. The firm has a 50 day moving average of $66.15 and a 200-day moving average of $61.74.
Post Properties (NYSE:PPS) last announced its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. Post Properties had a net margin of 20.21% and a return on equity of 6.49%. The company earned $99.70 million during the quarter, compared to analysts’ expectations of $99.30 million. During the same quarter in the prior year, the company posted $0.74 EPS. The business’s revenue was up 4.5% on a year-over-year basis. Analysts forecast that Post Properties will post $3.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Wednesday, September 28th. Post Properties’s payout ratio is 127.89%.
Several institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of Post Properties by 18.7% in the second quarter. Macquarie Group Ltd. now owns 301,371 shares of the real estate investment trust’s stock worth $18,399,000 after buying an additional 47,542 shares during the last quarter. Mason Street Advisors LLC purchased a new position in shares of Post Properties during the second quarter worth $1,489,000. Wolverine Asset Management LLC raised its position in shares of Post Properties by 7.3% in the second quarter. Wolverine Asset Management LLC now owns 13,851 shares of the real estate investment trust’s stock worth $845,000 after buying an additional 942 shares during the last quarter. Royal Bank of Canada raised its position in shares of Post Properties by 39.3% in the second quarter. Royal Bank of Canada now owns 71,454 shares of the real estate investment trust’s stock worth $4,362,000 after buying an additional 20,171 shares during the last quarter. Finally, Cohen & Steers Inc. purchased a new position in shares of Post Properties during the second quarter worth $33,477,000. 95.66% of the stock is currently owned by institutional investors.
Post Properties Company Profile
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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