Daiwa Securities Group Inc. Continues to Hold Stake in Post Properties Inc. (PPS)
Daiwa Securities Group Inc. held its position in Post Properties Inc. (NYSE:PPS) during the second quarter, Holdings Channel reports. The fund owned 1,900 shares of the real estate investment trust’s stock at the end of the second quarter. Daiwa Securities Group Inc.’s holdings in Post Properties were worth $116,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Capstone Asset Management Co. boosted its stake in shares of Post Properties by 2.6% in the second quarter. Capstone Asset Management Co. now owns 4,319 shares of the real estate investment trust’s stock worth $264,000 after buying an additional 110 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Post Properties by 0.6% in the second quarter. Nisa Investment Advisors LLC now owns 52,000 shares of the real estate investment trust’s stock worth $3,175,000 after buying an additional 300 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in shares of Post Properties by 1.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 52,336 shares of the real estate investment trust’s stock worth $3,127,000 after buying an additional 934 shares during the period. Hancock Holding Co. boosted its stake in shares of Post Properties by 7.1% in the first quarter. Hancock Holding Co. now owns 16,690 shares of the real estate investment trust’s stock worth $997,000 after buying an additional 1,100 shares during the period. Finally, LS Investment Advisors LLC boosted its stake in shares of Post Properties by 72.0% in the second quarter. LS Investment Advisors LLC now owns 3,208 shares of the real estate investment trust’s stock worth $196,000 after buying an additional 1,343 shares during the period. 95.66% of the stock is owned by hedge funds and other institutional investors.
Post Properties Inc. (NYSE:PPS) traded down 0.59% on Friday, reaching $61.00. The company’s stock had a trading volume of 693,251 shares. Post Properties Inc. has a 1-year low of $52.08 and a 1-year high of $69.39. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 41.50 and a beta of 0.38. The stock has a 50 day moving average price of $66.00 and a 200-day moving average price of $61.75.
Post Properties (NYSE:PPS) last posted its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. The company had revenue of $99.70 million for the quarter, compared to analysts’ expectations of $99.30 million. Post Properties had a return on equity of 6.49% and a net margin of 20.21%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 earnings per share. Equities analysts predict that Post Properties Inc. will post $3.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.88 annualized dividend and a dividend yield of 3.08%. Post Properties’s dividend payout ratio is currently 127.89%.
A number of equities research analysts have commented on the company. Cantor Fitzgerald reiterated a “hold” rating and set a $61.50 target price on shares of Post Properties in a report on Monday, July 18th. Citigroup Inc. raised their price objective on Post Properties from $62.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Zelman & Associates cut Post Properties from a “hold” rating to a “sell” rating in a report on Wednesday, June 22nd. Zacks Investment Research upgraded Post Properties from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Thursday, June 16th. Finally, Deutsche Bank AG raised their price objective on Post Properties from $61.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Post Properties has a consensus rating of “Hold” and an average price target of $64.77.
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.
Want to see what other hedge funds are holding PPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Post Properties Inc. (NYSE:PPS).
Receive News & Ratings for Post Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Post Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.