Preferred Apartment Communities Inc. (APTS) Increases Dividend to $0.25 Per Share
Preferred Apartment Communities Inc. (NASDAQ:APTS) declared a quarterly dividend on Tuesday, October 24th, Wall Street Journal reports. Stockholders of record on Friday, December 15th will be given a dividend of 0.25 per share by the real estate investment trust on Tuesday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Thursday, December 14th. This is a positive change from Preferred Apartment Communities’s previous quarterly dividend of $0.24.
Preferred Apartment Communities (APTS) traded up 1.14% during mid-day trading on Tuesday, reaching $20.43. 380,296 shares of the company were exchanged. The company’s market cap is $680.75 million. Preferred Apartment Communities has a 12 month low of $12.42 and a 12 month high of $20.47. The stock’s 50-day moving average is $18.95 and its 200-day moving average is $16.81.
Preferred Apartment Communities (NASDAQ:APTS) last announced its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. Preferred Apartment Communities had a negative return on equity of 4.73% and a net margin of 4.66%. The firm had revenue of $70.89 million during the quarter, compared to analyst estimates of $63.74 million. Equities analysts expect that Preferred Apartment Communities will post ($1.08) earnings per share for the current year.
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Several brokerages have recently issued reports on APTS. Canaccord Genuity set a $17.00 price target on Preferred Apartment Communities and gave the company a “buy” rating in a report on Monday, July 31st. BidaskClub lowered Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 8th. Zacks Investment Research upgraded Preferred Apartment Communities from a “strong sell” rating to a “hold” rating in a report on Friday, August 4th. FBR & Co reiterated a “market perform” rating and set a $16.00 price target on shares of Preferred Apartment Communities in a report on Tuesday, July 11th. Finally, ValuEngine upgraded Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $17.63.
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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