Upgrade Alert for Post Properties (PPS)
Post Properties (NYSE:PPS) was upgraded from Market Perform to Outperform at Raymond James today. The stock closed yesterday at $66.68 on volume of 746,000 shares, above average daily volume of 526,000.
Post Properties, Inc. develops and operates upscale multi-family apartment communities in the Southeastern and Southwestern United States. The Company operates as a self-administered and self-managed Real Estate Investment Trust whose primary business consists of developing and managing Post brand name apartment communities for its own account.
In the past 52 weeks, Post Properties share prices have been bracketed by a low of $52.08 and a high of $69.39 and closed yesterday at $66.68, 28% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.
Post Properties (NYSE:PPS) is currently priced 7.4% above its average consensus analyst price target of $61.71. The stock should discover initial support at its 50-day moving average (MA) of $58.42 and subsequent support at its 200-day MA of $57.95.
SmarTrend recommended that subscribers consider buying shares of Post Properties on June 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $60.28. Since that recommendation, shares of Post Properties have risen 9.2%. We continue to monitor PPS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades post properties