Post Properties, Inc. (NYSE:PPS) continues to benefit from a decline in home ownership rates in the United States.
The apartment REIT delivered a 29% positive earnings surprise for the second quarter on higher occupancy rates and average monthly rents. It was Post’s 8th consecutive positive earnings surprise.
Management revised its guidance higher for 2011 after the strong quarter, prompting analysts to raise their estimates significantly higher. It is a Zacks #1 Rank (Strong Buy) stock.
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