The stock of Post Properties Inc (NYSE:PPS) gapped down by $0.22 today and has $60.80 target or 6.00% below today’s $64.68 share price. The 7 months technical chart setup indicates high risk for the $3.48 billion company. The gap down was reported on Oct, 4 by Barchart.com. If the $60.80 price target is reached, the company will be worth $208.80 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.19% or $1.45 on October 3, hitting $64.68. Post Properties Inc (NYSE:PPS) has risen 13.12% since March 1, 2016 and is uptrending. It has outperformed by 0.90% the S&P500.
Analysts await Post Properties Inc (NYSE:PPS) to report earnings on November, 7. They expect $0.81 EPS, up 6.58% or $0.05 from last year’s $0.76 per share. PPS’s profit will be $43.58 million for 19.96 P/E if the $0.81 EPS becomes a reality. After $0.82 actual EPS reported by Post Properties Inc for the previous quarter, Wall Street now forecasts -1.22% negative EPS growth.
Post Properties Inc (NYSE:PPS) Ratings Coverage
Out of 8 analysts covering Post Properties Inc. (NYSE:PPS), 3 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 38% are positive. Post Properties Inc. has been the topic of 13 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the stock with “Hold” rating in Tuesday, August 16 report. As per Monday, August 29, the company rating was upgraded by Raymond James. Zacks upgraded the shares of PPS in a report on Thursday, August 27 to “Hold” rating. The rating was downgraded by UBS to “Sell” on Thursday, March 10. SunTrust initiated the stock with “Buy” rating in Tuesday, July 21 report. The firm has “Buy” rating by BB&T Capital given on Tuesday, November 10. Raymond James downgraded Post Properties Inc (NYSE:PPS) on Thursday, January 7 to “Mkt Perform” rating. As per Wednesday, August 5, the company rating was maintained by Cantor Fitzgerald. As per Tuesday, October 13, the company rating was initiated by Mizuho. The rating was maintained by Barclays Capital on Wednesday, August 24 with “Equal-Weight”.
According to Zacks Investment Research, “Post Properties, Inc. is one of the largest developers and operators of upscale multifamily apartment communities in the Southeastern and Southwestern United States. The company owns a number of stabilized communities containing apartment units located primarily in metropolitan Atlanta, Georgia; Dallas, Texas and Tampa, Florida.”
Insitutional Activity: The institutional sentiment increased to 1.24 in 2016 Q2. Its up 0.09, from 1.15 in 2016Q1. The ratio improved, as 18 funds sold all Post Properties Inc shares owned while 76 reduced positions. 24 funds bought stakes while 93 increased positions. They now own 50.31 million shares or 0.97% more from 49.83 million shares in 2016Q1.
Citigroup holds 71,616 shares or 0% of its portfolio. Stifel Financial Corporation has 63,786 shares for 0.02% of their US portfolio. Jane Street Group, a New York-based fund reported 13,275 shares. State Of Alaska Department Of Revenue has 21,500 shares for 0.14% of their US portfolio. New Mexico Educational Retirement Board last reported 6,989 shares in the company. Westpac Corporation last reported 142,500 shares in the company. Lasalle Invest Management Securities Limited Com accumulated 18,153 shares or 0.01% of the stock. Checchi Capital Advisers Limited Liability accumulated 0.01% or 1,009 shares. Moreover, Blackrock Institutional Tru Na has 0.02% invested in Post Properties Inc (NYSE:PPS) for 2.36 million shares. The Texas-based Employees Retirement Sys Of Texas has invested 0.05% in Post Properties Inc (NYSE:PPS). Winfield Associate reported 30 shares or 0% of all its holdings. Arizona State Retirement, a Arizona-based fund reported 22,506 shares. State Street accumulated 2.35M shares or 0.02% of the stock. Hancock last reported 0.04% of its portfolio in the stock. Commonwealth Of Pennsylvania School Empls Retrmt has 0.01% invested in the company for 10,295 shares.
Insider Transactions: Since May 11, 2016, the stock had 0 insider buys, and 3 insider sales for $583,812 net activity. On Wednesday, May 11 the insider QUIRK ARTHUR J sold $263,378. 2,080 shares were sold by Teabo Sheila J., worth $127,234 on Monday, May 16. Ward David C. also sold $193,200 worth of Post Properties Inc (NYSE:PPS) shares.
More notable recent Post Properties Inc (NYSE:PPS) news were published by: Wsj.com which released: “MAA Near Deal to Buy Post Properties for About $4 Billion” on August 14, 2016, also Prnewswire.com with their article: “Post Properties Inc. Acquisition May Not Be in the Best Interests of PPS …” published on August 17, 2016, Blogs.Wsj.com published: “CFO Moves: Liberty Property Trust, Post Properties” on May 09, 2016. More interesting news about Post Properties Inc (NYSE:PPS) were released by: Marketwatch.com and their article: “Mid-America Apartment confirms deal to buy Post Properties for nearly $4 billion” published on August 15, 2016 as well as Benzinga.com‘s news article titled: “Barclays Comments On Post Properties-Mid America Merger” with publication date: August 24, 2016.
PPS Company Profile
Post Properties, Inc., incorporated on January 25, 1984, is a self-administrated and self-managed equity real estate investment trust (REIT). The Company, through its subsidiaries, develops, owns and manages upscale multi-family apartment communities in selected markets in the United States. The Firm is the general partner and owns an interest in the Post Apartment Homes, L.P. (the Operating Partnership) which, through its subsidiaries, conducts the on-going activities of the Company. The Company’s divisions include Fully stabilized (same store) communities, which includes apartment communities that have been stabilized (the earlier of the point at which a property reaches approximately 95% occupancy or one year after completion of construction) 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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