Preferred Apartment Communities Inc. (APTS) Announces Quarterly Earnings Results
Preferred Apartment Communities Inc. (NASDAQ:APTS) issued its quarterly earnings data on Monday. The real estate investment trust reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.18), Yahoo Finance reports. Preferred Apartment Communities had a net margin of 4.66% and a negative return on equity of 4.73%.
Preferred Apartment Communities (NASDAQ APTS) opened at 20.12 on Tuesday. The company’s 50-day moving average price is $19.26 and its 200 day moving average price is $17.05. Preferred Apartment Communities has a 52 week low of $12.42 and a 52 week high of $20.72. The company’s market capitalization is $670.42 million.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, December 14th. This is a boost from Preferred Apartment Communities’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.97%.
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Several analysts have issued reports on the stock. BidaskClub downgraded shares of Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Canaccord Genuity set a $20.00 target price on Preferred Apartment Communities and gave the company a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research cut Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. FBR & Co reiterated a “market perform” rating and set a $16.00 target price on shares of Preferred Apartment Communities in a research note on Tuesday, July 11th. Finally, ValuEngine upgraded Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $17.63.
About Preferred Apartment Communities
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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