Post Properties Inc(NYSE:PPS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $99.72M. Analysts estimated a revenue of $99.30M. Earnings per share were $0.82. Analysts had estimated an EPS of $0.79.
In a different note, On Jun 22, 2016, Zelman said it Downgrades its rating on Post Properties Inc. The shares have been rated ‘Sell’ by the firm. On May 13, 2016, Deutsche Bank said it Maintains its rating on Post Properties Inc. In the research note, the firm Lowers the price-target to $61.00 per share. The shares have been rated ‘Hold’ by the firm.
Post Properties Inc (PPS) made into the market gainers list on Mondays trading session with the shares advancing 0.79% or 0.49 points. Due to strong positive momentum, the stock ended at $62.77, which is also near the day’s high of $63. The stock began the session at $62.39 and the volume stood at 2,45,511 shares. The 52-week high of the shares is $67.61 and the 52 week low is $52.0801. The company has a current market capitalization of $3,357 M and it has 5,34,87,246 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On May 24, 2016, David C. Ward (EVP & Chief Investment Officer) sold 3,220 shares at $60.00 per share price.Also, 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.