Barclays Raises Numbers on Post Properties (PPS); Ex-Condos, Shares Trade At Premium Multiple

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Barclays maintains an 'Equalweight' on Post Properties (NYSE: PPS) price target raised from $48 to $52.

Analyst, Ross L. Smotrich, said, "Fundamentals are improving rapidly for PPS, with rents up 7% on new leases in April, as the spring leasing season ramps up. Still, occupancy is likely at its highs for the cycle and may be a slight headwind for revenue growth in the coming quarters...Excluding condos, PPS still trades at a premium multiple."

Barclays raises FY12 FFO estimate from $2.25 to $2.38 and FY13 from $2.30 to $2.45.

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 $50.05 yesterday, with a 52 week range of $32.18-$50.50.

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