Post Properties Inc. (PPS) Upgraded to Buy by Zacks Investment Research
Post Properties Inc. (NYSE:PPS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $69.00 price target on the real estate investment trust’s stock. Zacks Investment Research’s target price suggests a potential upside of 13.11% from the stock’s current price.
According to Zacks, “Post Properties, Inc. is one of the largest developers and operators of upscale multifamily apartment communities in the Southeastern and Southwestern United States. The company owns a number of stabilized communities containing apartment units located primarily in metropolitan Atlanta, Georgia; Dallas, Texas and Tampa, Florida. “
Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $61.50 target price on shares of Post Properties in a research report on Monday, July 18th. Zelman & Associates cut shares of Post Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. Citigroup Inc. increased their price target on shares of Post Properties from $62.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Deutsche Bank AG increased their price target on shares of Post Properties from $61.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, August 16th. Finally, Barclays PLC increased their price target on shares of 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $64.77.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/07/post-properties-inc-pps-upgraded-to-buy-by-zacks-investment-research.html
Post Properties (NYSE:PPS) traded down 0.59% on Thursday, reaching $61.00. 693,251 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $66.00 and its 200 day moving average price is $61.75. The company has a market cap of $3.26 billion, a PE ratio of 41.50 and a beta of 0.38. Post Properties has a 52-week low of $52.08 and a 52-week high of $69.39.
Post Properties (NYSE:PPS) last posted its earnings results 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 firm earned $99.70 million during the quarter, compared to analysts’ expectations of $99.30 million. During the same period last year, the company posted $0.74 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts expect that Post Properties will post $3.23 earnings per share for the current 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 paid a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.08%. Post Properties’s dividend payout ratio is presently 127.89%.
Hedge funds have 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. Tower Research Capital LLC TRC raised its stake in shares of Post Properties by 2,361.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,618 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 3,471 shares in the last quarter. Prudential PLC bought a new stake in shares of Post Properties during the first quarter worth approximately $227,000. Gideon Capital Advisors Inc. bought a new stake in shares of Post Properties during the second quarter worth approximately $236,000. Finally, BOKF NA raised its stake in shares of Post Properties by 12.6% in the second quarter. BOKF NA now owns 4,077 shares of the real estate investment trust’s stock worth $249,000 after buying an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Post Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Post Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.