Post Properties Receives Neutral Rating from JPMorgan Chase & Co. (PPS)
Post Properties (NYSE:PPS)‘s stock had its “neutral” rating reiterated by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Friday. They currently have a $52.00 price target on the stock, up from their previous price target of $50.00. JPMorgan Chase & Co.’s price objective would suggest a potential downside of 2.62% from the company’s current price.
Shares of Post Properties (NYSE:PPS) traded up 0.02% during mid-day trading on Friday, hitting $53.41. 70,436 shares of the company’s stock traded hands. Post Properties has a 52-week low of $42.43 and a 52-week high of $53.48. The stock’s 50-day moving average is $51.63 and its 200-day moving average is $48.62. The company has a market cap of $2.902 billion and a P/E ratio of 29.02.
Post Properties (NYSE:PPS) last announced its earnings results on Monday, April 28th. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.30 by $0.34. The company had revenue of $93.50 million for the quarter, compared to the consensus estimate of $92.49 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts predict that Post Properties will post $2.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, June 26th. This is a boost from Post Properties’s previous quarterly dividend of $0.36.
In other Post Properties news, CAO Arthur J. Quirk unloaded 4,570 shares of the stock on the open market in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $52.50, for a total transaction of $239,925.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Barclays raised their price target on shares of Post Properties from $48.00 to $49.00 in a research note on Tuesday, April 22nd. They now have an “equal weight” rating on the stock. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $50.34.
Post Properties, Inc is a self-administrated and self-managed equity real estate investment trust (NYSE:PPS).
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