Post Properties Inc. (PPS) Raised to “Buy” at Zacks Investment Research
Post Properties Inc. (NYSE:PPS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage currently has a $69.00 price target on the real estate investment trust’s stock. Zacks Investment Research’s price objective suggests a potential upside of 11.45% 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. “
A number of other brokerages have also weighed in on PPS. Deutsche Bank AG raised their target price on Post Properties from $61.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, August 16th. Barclays PLC raised their target price on Post Properties from $64.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 24th. Raymond James Financial Inc. upgraded Post Properties from a “market perform” rating to an “outperform” rating and set a $72.50 target price for the company in a research note on Monday, August 29th. Cantor Fitzgerald restated a “hold” rating on shares of Post Properties in a research note on Monday, August 1st. Finally, Citigroup Inc. raised their target price on Post Properties from $62.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $64.77.
Shares of Post Properties (NYSE:PPS) opened at 61.91 on Thursday. The firm’s 50-day moving average is $66.31 and its 200-day moving average is $61.74. Post Properties has a 1-year low of $52.08 and a 1-year high of $69.39. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 42.12 and a beta of 0.38.
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 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 company earned $99.70 million during the quarter, compared to analyst estimates of $99.30 million. During the same period last year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts predict that Post Properties will post $3.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.88 annualized dividend and a dividend yield of 3.04%. Post Properties’s payout ratio is currently 127.89%.
Several institutional investors have recently bought and sold shares of PPS. LS Investment Advisors LLC raised its position in 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 valued at $196,000 after buying an additional 1,343 shares during the last quarter. Tower Research Capital LLC TRC raised its position in 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 valued at $221,000 after buying an additional 3,471 shares during the last quarter. Prudential PLC bought a new position in Post Properties during the first quarter valued at about $227,000. Gideon Capital Advisors Inc. bought a new position in Post Properties during the second quarter valued at about $236,000. Finally, BOKF NA raised its position in Post Properties by 12.6% in the second quarter. BOKF NA now owns 4,077 shares of the real estate investment trust’s stock valued at $249,000 after buying an additional 455 shares during the last quarter. 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.
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