Post Properties Announces Second Quarter 2015 Earnings

Dave Stockert

ATLANTA, GA (BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS) announced net income available to common shareholders of $18.7 million, or $0.34 per diluted share, for the second quarter of 2015 compared to $46.8 million, or $0.86 per diluted share, for the second quarter of 2014.

Net income available to common shareholders for the six months ended June 30, 2015, was $37.7 million, or $0.69 per diluted share, compared to $60.1 million, or $1.10 per diluted share, for the six months ended June 30, 2014.

Said Dave Stockert, Post’s CEO, “In the second quarter we posted another double-digit growth rate in earnings and cash flow, on solid apartment market conditions.

“ As a result of the Company’s performance in the first half, we are increasing full-year guidance. We are also setting aside $100 million of capital to pursue share repurchases over roughly the next four quarters where we believe we can capture the difference between the share price and the underlying net asset value of the portfolio.”

For a complete copy of the company’s news release, please contact:

Post Properties, Inc.

Chris Papa, 404-846-5028