Post Properties Inc.NYSE
Wed, Nov. 30, 7:55 AM
Mon, Oct. 31, 4:24 PM
Sun, Oct. 30, 5:35 PM
Tue, Sep. 20, 1:31 PM
Fri, Aug. 19, 7:31 AM
- Markets are "misinterpreting" the company's planned purchase of Post Properties (NYSE:PPS), says SunTrust's Michael Lewis, upgrading MAA to Buy from Neutral.
- While the deal may be dilutive in the short-term, profits will benefit over the longer term.
- MAA is the most defensive REIT in the apartment sector, says Lewis, and the post-merger-news decline makes for a compelling entry point.
Mon, Aug. 15, 1:20 PM
Mon, Aug. 15, 7:44 AM
- Mid-America Apartment (NYSE:MAA) agrees to acquire Post Properties (NYSE:PPS) in an all-stock deal worth ~$3.88B, confirming an earlier report.
- MAA shareholders will own ~67.7% and former PPS shareholders will own 32.3% of the combined company with a ~$12B market cap, creating the largest multi-family REIT by number of units, with ~105K across 317 properties.
- The companies expect the deal to achieve $20M in annual gross synergies.
Mon, Aug. 15, 6:46 AM
- M&A activity is kicking off the headlines this week with an array of deals expected to be announced shortly.
- Among them: Mid-America Apartment (NYSE:MAA)- Post Properties (NYSE:PPS), Sharp (OTCPK:SHCAY)- Foxconn (OTC:FXCOF), Honeywell (NYSE:HON)- JDA Software, Xylem (NYSE:XYL)- Sensus USA and KKR- Entertainment One (OTC:ENTMF).
- The technology sector is still leading the global M&A market in 2016, but the real estate segment is not far behind.
- Will 2016 outpace 2015's record in terms of acquisitions and deal value?
Sun, Aug. 14, 7:03 PM
- A deal for about $4B could be announced as soon as tomorrow, according to the Journal's sources, with Post (NYSE:PPS) owners set to receive 0.71 share of newly-issued MAA stock for each share of Post they hold.
- Based on MAA's Friday close of $102.15, this would mean about $72.53 for each share of Post - roughly a 16% premium to Friday's close.
- Apartment landlords have naturally benefitted from the aftermath of the housing bust, but rent growth has begun to slow of late, leaving managements looking to mergers as the next way to drive value. Real estate is this year's 2nd busiest sector for M&A activity with more than $215B of deals, including $52B among REITs.
Mon, Aug. 1, 4:16 PM
Sun, Jul. 31, 5:35 PM
- ADUS, AEGN, AEIS, AMKR, APU, ARE, ATW, BDE, BLKB, CEMP, CGNX, CHGG, CKEC, CONE, CUTR, DAC, DNB, ENH, ENSG, EXAC, FTR, GGP, GKOS, GPRE, HTA, IDTI, ININ, IPHS, KMT, LNT, MCEP, MTGE, NGHC, NLS, OFIX, OGS, OLN, PLOW, PPS, PQ, QUAD, RAIL, RXN, RYAM, SBRA, SYKE, TEX, THC, TNET, TREX, TSE, TTOO, TXRH, UGI, VECO, VNO, WMB, WSTC, XOXO
Thu, Jun. 16, 10:20 AM
- Inside May's CPI report was a monthly rent increase of 0.4%, the strongest monthly increase sine 2007. The year-over-year rise was 3.8%, the highest since 2008.
- That far outpaces the average hourly wage increase of 1.4%.
- Associated tickers: EQR, AVB, ESS, PPS, UDR, AIV, CPT, MAA, IRET, IRT, MORE, APTS
Thu, Jun. 9, 11:52 AM
- The team hosted meetings with 29 companies over two days across six subsectors. Some highlights:
- Lodging: Business travel remains soft and most are operating defensively by grouping up and reducing leverage. NYC is flooded with hotels available for sale which should pressure pricing.
- Apartments: The slowdown in NoCal is concentrated in Soma and San Jose, but expected to be temporary. The NYC slowdown is expected to endure through 2017. Merchant builders in Houston with deliveries in 2017 are in trouble - an opportunity for Camden Property Trust (NYSE:CPT) to pick up assets on the cheap.
- Malls: Concerns over department stores are overblown. Simon Property (NYSE:SPG) expects spreads to top mid-teens in the next five years. Omni-channel retail strategy is growing increasingly important as the WSJ reports 80% of online sales touch brick and mortar in some way.
- CS's Ian Weissman is ranked #1,134 out of #3,990 analysts on TipRanks.com.
- Tickers of interest: HPT, SHO, LHO, PEB, CHSP, INN, RLJ, EQR, AVB, ESS, PPS, UDR, AIV, GGP, BRX, KIM, WRI, MAC
Wed, Jun. 8, 9:49 AM
- Equity Residential (EQR -1%), AvalonBay Communities (AVB -1.1%), and Essex Property Trust (ESS -0.5%) are all downgraded to Hold from Buy at Jefferies.
- With market caps of $13B-$23B, these three are the apartment sector giants by a wide margin. They tend to play in the high-priced markets on the coasts (Essex is all West Coast).
- Equity Residential made big news late last year when it sold a big chunk of its portfolio - and when Sam Zell sells, it's worth paying attention to. The company made more news last week when it cut guidance thanks to weakness in San Francisco and New York (though management played this down at a conference yesterday).
- Other sector names: Post Properties (PPS +0.1%), UDR (UDR -0.8%), Aimco (AIV -0.5%), Camden Property (CPT -1%), Mid-America (MAA -0.3%), Investors Real Estate (IRET +1.6%), Independence Realty (IRT +0.4%), Monogram Residential (MORE -0.5%), NexPoint (NXRT), Preferred Apartment (APTS +0.6%), Bluerock Residential (BRG -0.2%)
Wed, Jun. 1, 11:43 AM| Wed, Jun. 1, 11:43 AM | 1 Comment
Wed, May 25, 3:16 PM
- Post Properties (NYSE:PPS) declares $0.47/share quarterly dividend, in line with previous.
- Forward yield 3.12%
- Payable July 15; for shareholders of record June 30; ex-div June 28.