Post Properties (PPS) : Traders are negative on Post Properties (PPS), as it has 2.2% of short positions outstanding compared to its float. The total shorts have reduced by -67,548 shares, which is a -5.6% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,1,202,045 to 1,134,497 shares. While the daily trading volume of the stock is 627,526, there are 2 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Post Properties (NYSE:PPS): The stock opened at $66.32 on Wednesday but the bulls could not build on the opening and the stock topped out at $66.38 for the day. The stock traded down to $65.15 during the day, due to lack of any buying support eventually closed down at $65.62 with a loss of -1.03% for the day. The stock had closed at $66.30 on the previous day. The total traded volume was 1,077,870 shares.
In a related news,The officer (EVP & Chief Investment Officer) of Post Properties Inc, Ward David C. sold 3,220 shares at $60 on May 20, 2016. The Insider selling transaction had a total value worth of $193,200. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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 22,994 apartment units in 58 communities, including 1,471 apartment units in four communities held in unconsolidated entities and 1,705 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.