Mason Street Advisors LLC Takes Position in Post Properties Inc. (PPS)
Mason Street Advisors LLC acquired a new stake in Post Properties Inc. (NYSE:PPS) during the second quarter, Holdings Channel reports. The institutional investor acquired 24,392 shares of the real estate investment trust’s stock, valued at approximately $1,489,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in Post Properties by 49.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,057,642 shares of the real estate investment trust’s stock valued at $122,924,000 after buying an additional 677,109 shares in the last quarter. Numeric Investors LLC increased its position in Post Properties by 1,646.5% in the second quarter. Numeric Investors LLC now owns 660,167 shares of the real estate investment trust’s stock valued at $40,303,000 after buying an additional 622,367 shares in the last quarter. Cohen & Steers Inc. bought a new position in Post Properties during the second quarter valued at approximately $33,477,000. Nuveen Asset Management LLC increased its position in Post Properties by 60.6% in the second quarter. Nuveen Asset Management LLC now owns 1,355,807 shares of the real estate investment trust’s stock valued at $82,772,000 after buying an additional 511,570 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in Post Properties during the second quarter valued at approximately $27,620,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.
Shares of Post Properties Inc. (NYSE:PPS) opened at 65.06 on Monday. The company has a market capitalization of $3.48 billion, a PE ratio of 44.26 and a beta of 0.56. The stock has a 50 day moving average price of $64.60 and a 200-day moving average price of $60.58. Post Properties Inc. has a 12 month low of $52.08 and a 12 month high of $69.39.
Post Properties (NYSE:PPS) last announced its earnings results on Monday, August 1st. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.03. The firm had revenue of $99.70 million for the quarter, compared to analysts’ expectations of $99.30 million. Post Properties had a net margin of 20.21% and a return on equity of 6.49%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. Analysts forecast that Post Properties Inc. will post $3.23 EPS for the current year.
Several analysts recently issued reports on PPS shares. Raymond James Financial Inc. raised Post Properties from a “market perform” rating to an “outperform” rating and set a $72.50 target price on the stock in a research note on Monday, August 29th. Zelman & Associates cut Post Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. Zacks Investment Research cut Post Properties from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Cantor Fitzgerald reissued a “hold” rating on shares of Post Properties in a research note on Monday, August 1st. Finally, Barclays PLC raised their target price 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Post Properties has an average rating of “Hold” and a consensus price target of $64.50.
Post Properties Company Profile
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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