This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Post Properties Announces Fourth Quarter 2012 Earnings

For the year ended December 31, 2012, average economic occupancy at the Company’s same store communities was 96.0%, compared to 95.6% for the year ended December 31, 2011.

Total revenues for the same store communities increased 7.0% and total operating expenses increased 4.4% during 2012, compared to 2011, resulting in a 8.7% increase in same store NOI. The average monthly rental rate per unit increased 6.2% for 2012, compared to 2011.

Same store NOI is a supplemental non-GAAP financial measure. A reconciliation of same store NOI to the comparable GAAP financial measure is included in the financial data (Table 2) accompanying this press release. Information on same store NOI and average rental rate per unit by geographic market is also included in the financial data (Table 3) accompanying this press release.

Development Activity

In December 2012, the Company acquired development land in Austin, Texas, adjacent to its Post South Lamar™ development community, for an aggregate price of approximately $8.5 million. This approximately 3-acre site is expected to be redeveloped in the future to include, subject to revision, approximately 300 luxury apartment units and approximately 7,000 square feet of retail space.

In the aggregate, the Company has 2,046 units in seven apartment communities, and approximately 45,085 square feet of retail space, under development or in lease-up with a total estimated cost of $338.2 million. The Company currently expects to utilize available cash, available borrowings under its unsecured bank credit facilities, or other indebtedness, as well as net proceeds from its on-going condominium sales and its at-the-market common equity sales program to fund future estimated construction expenditures.

In 2012, the Company began leasing units at three of its development communities: the second phase of its Post Carlyle Square™ apartment community located in Washington D.C., its Post South Lamar™ apartment community located in Austin, Texas, and at the third phase of its Post Midtown Square® apartment community in Houston, Texas. As of February 2, 2013, Post Carlyle Square™ – Phase II, Post South Lamar™ and Post Midtown Square® - Phase III were 52.9%, 44.0% and 49.2% leased, respectively.

3 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs