Principal Financial Group Inc. decreased its stake in Post Properties Inc. (NYSE:PPS) by 35.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 202,666 shares of the real estate investment trust’s stock after selling 109,423 shares during the period. Principal Financial Group Inc. owned about 0.38% of Post Properties worth $12,372,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. State Treasurer State of Michigan increased its position in shares of Post Properties by 0.5% in the second quarter. State Treasurer State of Michigan now owns 21,500 shares of the real estate investment trust’s stock valued at $1,313,000 after buying an additional 100 shares in the last quarter. Capstone Asset Management Co. increased 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. Boston Private Wealth LLC increased its stake in Post Properties by 2.5% in the second quarter. Boston Private Wealth LLC now owns 8,567 shares of the real estate investment trust’s stock valued at $523,000 after buying an additional 207 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Post Properties by 1.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,612 shares of the real estate investment trust’s stock valued at $1,075,000 after buying an additional 247 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in 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 valued at $3,175,000 after buying an additional 300 shares during the period. Institutional investors own 95.66% of the company’s stock.
Post Properties Inc. (NYSE:PPS) opened at 61.57 on Tuesday. The firm has a 50-day moving average price of $65.86 and a 200-day moving average price of $61.82. The firm has a market cap of $3.29 billion, a PE ratio of 41.88 and a beta of 0.38. Post Properties Inc. has a one year low of $52.08 and a one year high of $69.39.
Post Properties (NYSE:PPS) last posted its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.03. Post Properties had a return on equity of 6.49% and a net margin of 20.21%. The firm earned $99.70 million during the quarter, compared to analyst estimates of $99.30 million. During the same period last year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts expect that Post Properties Inc. will post $3.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders 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 dividend yield of 3.05%. The ex-dividend date of this dividend is Wednesday, September 28th. Post Properties’s payout ratio is currently 127.89%.
Several brokerages have weighed in on PPS. Zacks Investment Research raised Post Properties from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Thursday, October 6th. Raymond James Financial Inc. raised Post Properties from a “market perform” rating to an “outperform” rating and set a $72.50 price objective for the company in a report on Monday, August 29th. Barclays PLC lifted their price objective on Post Properties from $64.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, August 24th. Deutsche Bank AG lifted their price objective on Post Properties from $61.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, August 16th. Finally, Citigroup Inc. lifted their price objective on Post Properties from $62.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $64.77.
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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