Post Properties Inc (PPS) reported quarterly earnings results on Monday, Aug-1-2016. The company said it had a profit of $0.82 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.79. The company posted revenue of $99.72 million in the period, 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 opened for trading at $62.31 and hit $63.985 on the upside on Friday, eventually ending the session at $63.59, with a gain of 2.23% or 1.39 points. The heightened volatility saw the trading volume jump to 3,79,272 shares. Company has a market cap of $3,401 M.
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.