Bank of Montreal Can bought a new position in shares of Post Properties Inc. (NYSE:PPS) during the second quarter, Holdings Channel reports. The firm bought 255,629 shares of the real estate investment trust’s stock, valued at approximately $15,606,000.
Other large investors also recently made changes to their positions in the company. LS Investment Advisors LLC raised 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 in the last quarter. Prudential PLC bought a new stake in Post Properties during the first quarter valued at approximately $227,000. Capstone Asset Management Co. raised its stake in 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 valued at $264,000 after buying an additional 110 shares during the period. BlackRock Japan Co. Ltd raised its stake in Post Properties by 139.3% in the first quarter. BlackRock Japan Co. Ltd now owns 6,803 shares of the real estate investment trust’s stock valued at $406,000 after buying an additional 3,960 shares during the period. Finally, Rafferty Asset Management LLC raised its stake in Post Properties by 49.0% in the first quarter. Rafferty Asset Management LLC now owns 7,195 shares of the real estate investment trust’s stock valued at $430,000 after buying an additional 2,366 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.
Post Properties Inc. (NYSE:PPS) traded down 2.03% on Friday, hitting $66.13. 810,195 shares of the company’s stock traded hands. The stock has a market cap of $3.54 billion, a PE ratio of 44.99 and a beta of 0.56. Post Properties Inc. has a one year low of $52.08 and a one year high of $69.39. The stock has a 50-day moving average of $66.49 and a 200-day moving average of $61.64.
Post Properties (NYSE:PPS) last posted its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.82 EPS for the quarter, topping the Thomson Reuters’ 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 business earned $99.70 million during the quarter, compared to the consensus estimate of $99.30 million. During the same period in the previous year, the firm posted $0.74 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that Post Properties Inc. will post $3.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.47 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.88 annualized dividend and a dividend yield of 2.84%. Post Properties’s dividend payout ratio (DPR) is presently 127.89%.
Several research firms have recently commented on PPS. Deutsche Bank AG upped their price objective on Post Properties from $61.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, August 16th. Zacks Investment Research lowered Post Properties from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Citigroup Inc. upped their price objective on Post Properties from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Cantor Fitzgerald restated a “hold” rating on shares of Post Properties in a research note on Monday, August 1st. Finally, Barclays PLC upped their price objective on Post Properties from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Post Properties presently has a consensus rating of “Hold” and a consensus 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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