Retirement Systems of Alabama Sells 178 Shares of Post Properties Inc. (PPS)
Retirement Systems of Alabama reduced its stake in Post Properties Inc. (NYSE:PPS) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 68,996 shares of the real estate investment trust’s stock after selling 178 shares during the period. Retirement Systems of Alabama’s holdings in Post Properties were worth $4,212,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Montreal Can purchased a new stake in Post Properties during the second quarter worth $15,606,000. BlackRock Group LTD raised its stake 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 worth $23,658,000 after buying an additional 10,501 shares in the last quarter. Renaissance Technologies LLC raised its stake 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 worth $27,020,000 after buying an additional 252,100 shares in the last quarter. State Street Corp raised its stake 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 worth $141,161,000 after buying an additional 36,643 shares in the last quarter. Finally, Prudential PLC purchased a new stake in Post Properties during the first quarter worth $227,000. Institutional investors own 95.66% of the company’s stock.
Post Properties Inc. (NYSE:PPS) traded up 0.06% during trading on Friday, hitting $62.96. 472,487 shares of the company were exchanged. The firm’s 50 day moving average price is $65.38 and its 200-day moving average price is $61.84. Post Properties Inc. has a 1-year low of $52.08 and a 1-year high of $69.39. The stock has a market capitalization of $3.37 billion, a PE ratio of 42.83 and a beta of 0.38.
Post Properties (NYSE:PPS) last released its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $99.30 million. During the same period in the prior year, the firm earned $0.74 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts predict that Post Properties Inc. will post $3.23 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Wednesday, September 28th. Post Properties’s dividend payout ratio (DPR) is presently 127.89%.
A number of research firms have weighed in on PPS. Zacks Investment Research upgraded shares of Post Properties from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Thursday, October 6th. 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. Barclays PLC raised their price objective on shares of Post Properties from $64.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 24th. Deutsche Bank AG raised their price objective on shares of Post Properties from $61.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, August 16th. Finally, Citigroup Inc. raised their price objective 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price 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.