State of Wisconsin Investment Board Purchases 20,400 Shares of Post Properties Inc. (PPS)
State of Wisconsin Investment Board boosted its stake in shares of Post Properties Inc. (NYSE:PPS) by 59.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,660 shares of the real estate investment trust’s stock after buying an additional 20,400 shares during the period. State of Wisconsin Investment Board owned 0.10% of Post Properties worth $3,615,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Legal & General Group Plc increased its stake in Post Properties by 6.8% in the first quarter. Legal & General Group Plc now owns 105,180 shares of the real estate investment trust’s stock worth $6,284,000 after buying an additional 6,691 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Post Properties by 1.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 52,336 shares of the real estate investment trust’s stock worth $3,127,000 after buying an additional 934 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Post Properties during the first quarter worth $559,000. BNP Paribas Arbitrage SA increased its stake in Post Properties by 22.4% in the second quarter. BNP Paribas Arbitrage SA now owns 29,186 shares of the real estate investment trust’s stock worth $1,782,000 after buying an additional 5,336 shares during the last quarter. Finally, Capstone Asset Management Co. increased its stake in Post Properties by 2.6% in the second quarter. Capstone Asset Management Co. now owns 4,319 shares of the real estate investment trust’s stock worth $264,000 after buying an additional 110 shares during the last quarter. 94.33% of the stock is owned by institutional investors.
Post Properties Inc. (NYSE:PPS) traded up 1.63% during midday trading on Tuesday, reaching $66.53. The company’s stock had a trading volume of 762,793 shares. The firm has a 50 day moving average price of $64.70 and a 200 day moving average price of $63.28. Post Properties Inc. has a 1-year low of $52.08 and a 1-year high of $69.39. The firm has a market capitalization of $3.56 billion, a PE ratio of 46.52 and a beta of 0.14.
Post Properties (NYSE:PPS) last issued its quarterly earnings results on Monday, October 31st. The real estate investment trust reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.06. The company earned $101.60 million during the quarter, compared to analysts’ expectations of $100.95 million. Post Properties had a return on equity of 6.43% and a net margin of 19.61%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 EPS. On average, analysts predict that Post Properties Inc. will post $3.24 EPS for the current year.
A number of analysts have recently weighed in on PPS shares. Zacks Investment Research downgraded shares of Post Properties from a “buy” rating to a “hold” rating in a research report on Friday, November 4th. Raymond James Financial Inc. upgraded Post Properties from a “market perform” rating to an “outperform” rating and set a $72.50 price objective on the stock in a research note on Monday, August 29th. Barclays PLC raised their price objective on Post Properties from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 24th. Cantor Fitzgerald restated a “hold” rating on shares of Post Properties in a research note on Monday, August 1st. Finally, Citigroup Inc. raised their price objective on Post Properties from $62.00 to $63.00 and gave the stock 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 two have issued a buy rating to the stock. Post Properties has a consensus rating of “Hold” and a consensus target price of $64.40.
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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