Post Properties Announces Second Quarter 2013 Earnings

ATLANTA, GA --(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS) announced today net income available to common shareholders of $26.6 million, or $0.48 per diluted share, for the second quarter of 2013, compared to $20.2 million, or $0.37 per diluted share, for the second quarter of 2012.

Net income available to common shareholders for the six months ended June 30, 2013, was $46.0 million, or $0.84 per diluted share, compared to net income of $41.0 million, or $0.76 per diluted share, for the six months ended June 30, 2012.

Dave Stockert

The Company’s net income available to common shareholders for the three and six months ended June 30, 2012 included other income of $0.9 million relating primarily to a construction litigation settlement. 

For the six months ended June 30, 2012, the Company’s net income available to common shareholders included a gain of $6.1 million, or $0.11 per diluted share, on the sale of an asset.

Said Dave Stockert, Post’s CEO, “We were pleased to produce another quarter of strong earnings growth. Highlights included the increasing contribution to earnings from the lease-up of apartment communities in development and the 100% sell-out of our Austin condominium project. We were also pleased to be able to increase the dividend to common shareholders.”

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

Post Properties, Inc.

Chris Papa, 404-846-5028