Post Properties Inc. (NYSE:PPS) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Post Properties Inc. (NYSE:PPS) have been assigned a consensus rating of “Hold” from the twelve ratings firms that are covering the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $64.67.
Several research firms have weighed in on PPS. Raymond James Financial Inc. upgraded 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 raised their price target on Post Properties from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 24th. Deutsche Bank AG raised their price target on Post Properties from $61.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, August 16th. Zacks Investment Research downgraded Post Properties from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. Finally, Citigroup Inc. raised their price target on Post Properties from $62.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, August 5th.
A number of hedge funds and other institutional investors have recently made changes to their positions in PPS. Rafferty Asset Management LLC boosted its position in shares of Post Properties by 49.0% in the first quarter. Rafferty Asset Management LLC now owns 7,195 shares of the real estate investment trust’s stock worth $430,000 after buying an additional 2,366 shares in the last quarter. State Street Corp boosted its position 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 period. Kempen Capital Management N.V. boosted its position in Post Properties by 18.6% in the first quarter. Kempen Capital Management N.V. now owns 14,188 shares of the real estate investment trust’s stock worth $848,000 after buying an additional 2,222 shares during the period. Menta Capital LLC purchased a new position in Post Properties during the first quarter worth about $2,342,000. Finally, NN Investment Partners Holdings N.V. purchased a new position in Post Properties during the first quarter worth about $756,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.
Shares of Post Properties (NYSE:PPS) traded down 1.98% during mid-day trading on Tuesday, hitting $63.40. The stock had a trading volume of 140,244 shares. Post Properties has a one year low of $52.08 and a one year high of $69.39. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 43.13 and a beta of 0.38. The firm has a 50 day moving average of $66.56 and a 200 day moving average of $61.71.
Post Properties (NYSE:PPS) last posted its earnings results on Monday, August 1st. The real estate investment trust reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $99.70 million for 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 was up 4.5% compared to the same quarter last year. On average, analysts forecast that Post Properties will post $3.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, September 28th. Post Properties’s dividend payout ratio is 127.89%.
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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