Post Properties Inc (PPS) was Upgraded by Raymond James to ” Outperform”. Earlier the firm had a rating of “Mkt Perform ” on the company shares. Raymond James advised their investors in a research report released on Aug 29, 2016.
Many Wall Street Analysts have commented on Post Properties Inc. Company shares were Reiterated by Deutsche Bank on Aug 16, 2016 to “Hold”, Firm has raised the Price Target to $ 65 from a previous price target of $61 .
On the company’s financial health, Post Properties Inc reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 1, 2016. Analyst had a consensus of $0.79. The company had revenue of $99.72 million for the quarter, compared to analysts expectations of $99.37 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.
Post Properties Inc closed down -0.25 points or -0.38% at $66.3 with 6,00,841 shares getting traded on Tuesday. Post opening the session at $66.68, the shares hit an intraday low of $66.3 and an intraday high of $67.11 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on May 24, 2016, David C. Ward (EVP & Chief Investment Officer) sold 3,220 shares at $60.00 per share price. According to the SEC, on May 18, 2016, Sheila J. Teabo (Executive Vice Pres.) sold 2,080 shares at $61.17 per share price. On May 17, 2016, Christopher J Papa (EVP & Chief Financial Officer) sold 26,650 shares at $60.54 per share price, according to the Form-4 filing with the securities and exchange commission.
Post Properties Inc. is a self-administrated and self-managed equity real estate investment trust (REIT). The Company along with its subsidiaries develops owns and manages upscale multi-family apartment communities in selected markets in the United States. The Company operates through segments including Fully stabilized (same store) communities Newly stabilized communities Lease-up communities Acquired communities and Held for sale and sold communities. As of December 31 2014 the Company had interests in 22994 apartment units in 58 communities including 1471 apartment units in four communities held in unconsolidated entities and 1705 apartment units in five communities under development or in lease-up. The major operating divisions of the Company include Post Apartment Management Post Construction and Property Services Post Investment Group and Post Corporate Services.