Preferred Apartment Communities Inc. (NASDAQ:APTS) to Issue Quarterly Dividend of $0.24
Preferred Apartment Communities Inc. (NASDAQ:APTS) declared a quarterly dividend on Tuesday, August 8th, Wall Street Journal reports. Stockholders of record on Friday, September 15th will be given a dividend of 0.235 per share by the real estate investment trust on Monday, October 16th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date of this dividend is Thursday, September 14th.
Preferred Apartment Communities (NASDAQ:APTS) traded up 0.34% on Tuesday, hitting $17.61. The stock had a trading volume of 228,672 shares. The company’s market cap is $586.78 million. Preferred Apartment Communities has a 12 month low of $12.02 and a 12 month high of $18.11. The company has a 50-day moving average of $16.23 and a 200 day moving average of $14.73.
Preferred Apartment Communities (NASDAQ:APTS) last released its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. The company had revenue of $70.89 million for the quarter, compared to analyst estimates of $63.74 million. Preferred Apartment Communities had a negative return on equity of 4.73% and a net margin of 4.66%. On average, analysts predict that Preferred Apartment Communities will post ($1.10) EPS for the current fiscal year.
A number of equities analysts have weighed in on APTS shares. Zacks Investment Research lowered Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research note on Monday, May 15th. FBR & Co set a $15.00 price objective on Preferred Apartment Communities and gave the stock a “hold” rating in a research note on Wednesday, May 31st. National Securities reissued a “buy” rating and set a $20.00 price objective (up previously from $16.00) on shares of Preferred Apartment Communities in a research note on Tuesday, May 23rd. Canaccord Genuity set a $17.00 price objective on Preferred Apartment Communities and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, BidaskClub raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 1st. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.70.
Preferred Apartment Communities Company Profile
Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company is formed to acquire and operate multifamily properties in select targeted markets throughout the United States. It operates through segments, including multifamily communities, real estate related financing, new market properties and office buildings.
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