Compass Point Reiterates a 'Sell' on Post Properties (PPS); Adjusting Numbers
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Price: $65.02 --0%
Rating Summary:
5 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
5 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Compass Point reiterates a 'Sell' on Post Properties (NYSE: PPS) price target lowered from $39.50 to $41.00.
Analyst, Wilkes Graham, said, "We believe it is only a matter of time before PPS' affluent renters begin to jump ship for either single family home purchases or competing new multifamily supply. The stock remains expensive in our view relative to our $41 price target and will look for an increase in turnover from home buying in future quarters as the catalyst for underperformance."
"We are adjusting our 2012 and 2013 earnings estimates to account for the condo sales-driven earnings beat in 1Q12 as well as slightly lower property expenses in 2012 and 2013. Our estimates for same-store revenue growth in 2012 and 2013 are unchanged at 5.5% and 4.0%."
For an analyst ratings summary and ratings history on Post Properties click here. For more ratings news on Post Properties click here.
Shares of Post Properties closed at $47.67 yesterday.
Analyst, Wilkes Graham, said, "We believe it is only a matter of time before PPS' affluent renters begin to jump ship for either single family home purchases or competing new multifamily supply. The stock remains expensive in our view relative to our $41 price target and will look for an increase in turnover from home buying in future quarters as the catalyst for underperformance."
"We are adjusting our 2012 and 2013 earnings estimates to account for the condo sales-driven earnings beat in 1Q12 as well as slightly lower property expenses in 2012 and 2013. Our estimates for same-store revenue growth in 2012 and 2013 are unchanged at 5.5% and 4.0%."
For an analyst ratings summary and ratings history on Post Properties click here. For more ratings news on Post Properties click here.
Shares of Post Properties closed at $47.67 yesterday.
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