Post Properties Inc. (PPS) Shares Gap Up to $66.27
Shares of Post Properties Inc. (NYSE:PPS) gapped up prior to trading on Tuesday . The stock had previously closed at $66.18, but opened at $66.27. Post Properties shares last traded at $66.61, with a volume of 84,284 shares changing hands.
Several analysts have weighed in on PPS shares. Raymond James Financial Inc. raised Post Properties from a “market perform” rating to an “outperform” rating and set a $72.50 target price on the stock in a report on Monday, August 29th. Barclays PLC upped their target price 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 upped their target price on Post Properties from $61.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, August 16th. Cantor Fitzgerald reissued a “hold” rating on shares of Post Properties in a report on Monday, August 1st. Finally, Zacks Investment Research lowered Post Properties from a “buy” rating to a “hold” rating in a report on Friday, August 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.50.
The stock has a 50 day moving average price of $65.35 and a 200 day moving average price of $61.17. The firm has a market cap of $3.56 billion, a PE ratio of 45.21 and a beta of 0.56.
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Post Properties (NYSE:PPS) last announced its earnings results on Monday, August 1st. The real estate investment trust reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.03. The firm had revenue of $99.70 million for the quarter, compared to the consensus estimate of $99.30 million. Post Properties had a return on equity of 6.49% and a net margin of 20.21%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS. On average, equities research analysts predict that Post Properties Inc. will post $3.23 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in Post Properties by 49.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,057,642 shares of the real estate investment trust’s stock worth $122,924,000 after buying an additional 677,109 shares in the last quarter. Numeric Investors LLC increased its stake in Post Properties by 1,646.5% in the second quarter. Numeric Investors LLC now owns 660,167 shares of the real estate investment trust’s stock worth $40,303,000 after buying an additional 622,367 shares in the last quarter. Cohen & Steers Inc. purchased a new stake in Post Properties during the second quarter worth approximately $33,477,000. Nuveen Asset Management LLC increased its stake in Post Properties by 60.6% in the second quarter. Nuveen Asset Management LLC now owns 1,355,807 shares of the real estate investment trust’s stock worth $82,772,000 after buying an additional 511,570 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new stake in Post Properties during the second quarter worth approximately $27,620,000. 95.67% of the stock is currently owned by institutional investors.
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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