Preferred Apartment Communities Inc. (NYSE:APTS) – Investment analysts at DA Davidson issued their Q1 2019 EPS estimates for shares of Preferred Apartment Communities in a research note issued on Tuesday, November 6th. DA Davidson analyst J. Lykins anticipates that the real estate investment trust will post earnings per share of $0.39 for the quarter. DA Davidson also issued estimates for Preferred Apartment Communities’ Q2 2019 earnings at $0.40 EPS, Q3 2019 earnings at $0.41 EPS and Q4 2019 earnings at $0.42 EPS.
Preferred Apartment Communities (NYSE:APTS) last issued its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). The business had revenue of $104.20 million for the quarter, compared to the consensus estimate of $100.95 million. Preferred Apartment Communities had a return on equity of 0.90% and a net margin of 3.29%. The firm’s quarterly revenue was up 39.1% on a year-over-year basis.
Several other research firms also recently commented on APTS. ValuEngine downgraded Preferred Apartment Communities from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Zacks Investment Research raised Preferred Apartment Communities from a “sell” rating to a “hold” rating in a report on Tuesday, October 23rd. Finally, Boenning Scattergood started coverage on Preferred Apartment Communities in a report on Monday, September 17th. They issued an “outperform” rating and a $22.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $19.17.
Shares of APTS opened at $15.95 on Thursday. The company has a market cap of $579.76 million, a PE ratio of 10.42, a price-to-earnings-growth ratio of 1.47 and a beta of 0.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.05 and a quick ratio of 0.05. Preferred Apartment Communities has a twelve month low of $13.60 and a twelve month high of $22.71.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 6.52%. The ex-dividend date is Thursday, December 13th. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.26. Preferred Apartment Communities’s dividend payout ratio is presently 69.39%.
In other news, Director Timothy Alan Peterson sold 5,500 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $18.11, for a total value of $99,605.00. Following the completion of the sale, the director now owns 54,166 shares of the company’s stock, valued at approximately $980,946.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.62% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Preferred Apartment Communities during the 2nd quarter valued at $122,000. Sun Life Financial INC acquired a new stake in Preferred Apartment Communities during the 2nd quarter valued at $150,000. Sei Investments Co. lifted its holdings in Preferred Apartment Communities by 61.3% during the 2nd quarter. Sei Investments Co. now owns 9,930 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 3,774 shares during the last quarter. Palo Capital Inc. acquired a new stake in shares of Preferred Apartment Communities during the third quarter worth $211,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Preferred Apartment Communities during the third quarter worth $224,000. 56.48% of the stock is owned by institutional investors and hedge funds.
Preferred Apartment Communities Company Profile
Preferred Apartment Communities, Inc (NYSE: APTS), or the Company, is a Maryland corporation formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. As part of our business strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make real estate related loans, provide deposit arrangements or provide performance assurances, as may be necessary or appropriate, in connection with the development of multifamily communities and other properties.
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