Post Properties Inc. (NYSE:PPS) has been assigned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the company. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $64.67.
PPS has been the subject of several research reports. Raymond James Financial Inc. raised 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 downgraded shares of Post Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. Zacks Investment Research downgraded shares of Post Properties from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Post Properties in a research note on Monday, August 1st. Finally, Barclays PLC raised their price target 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.
Shares of Post Properties (NYSE:PPS) traded down 1.98% during trading on Tuesday, reaching $63.40. 140,244 shares of the company were exchanged. Post Properties has a 52-week low of $52.08 and a 52-week high of $69.39. The stock’s 50-day moving average is $66.56 and its 200-day moving average is $61.71. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 43.13 and a beta of 0.38.
Post Properties (NYSE:PPS) last issued its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. The business earned $99.70 million during the quarter, compared to the consensus estimate of $99.30 million. Post Properties had a net margin of 20.21% and a return on equity of 6.49%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 EPS. Equities research analysts predict that Post Properties 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. This represents a $1.88 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Wednesday, September 28th. Post Properties’s payout ratio is 127.89%.
A number of large investors have recently bought and sold shares of the company. Bank of Montreal Can bought a new stake in Post Properties during the second quarter worth approximately $15,606,000. BlackRock Group LTD boosted 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 during the last quarter. Renaissance Technologies LLC boosted 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 during the last quarter. State Street Corp boosted 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 during the last quarter. Finally, Prudential PLC bought a new stake in Post Properties during the first quarter worth approximately $227,000. Institutional investors and hedge funds own 95.66% of the company’s stock.
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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