Equities analysts expect that Preferred Apartment Communities Inc. (NYSE:APTS) will post earnings per share (EPS) of $0.37 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Preferred Apartment Communities’ earnings, with the lowest EPS estimate coming in at $0.36 and the highest estimate coming in at $0.37. Preferred Apartment Communities posted earnings per share of $0.38 in the same quarter last year, which suggests a negative year over year growth rate of 2.6%. The company is scheduled to issue its next earnings results after the market closes on Monday, November 5th.
On average, analysts expect that Preferred Apartment Communities will report full year earnings of $1.47 per share for the current year, with EPS estimates ranging from $1.45 to $1.49. For the next year, analysts expect that the firm will report earnings of $1.64 per share, with EPS estimates ranging from $1.60 to $1.67. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Preferred Apartment Communities.
Preferred Apartment Communities (NYSE:APTS) last released its earnings results on Monday, July 30th. The real estate investment trust reported ($0.66) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($1.00). The firm had revenue of $96.39 million during the quarter, compared to the consensus estimate of $95.18 million. Preferred Apartment Communities had a return on equity of 0.32% and a net margin of 1.21%. The business’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS.
A number of equities analysts have commented on APTS shares. Boenning Scattergood started coverage on Preferred Apartment Communities in a research note on Monday, September 17th. They issued an “outperform” rating and a $22.00 price target on the stock. Zacks Investment Research raised Preferred Apartment Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, ValuEngine raised Preferred Apartment Communities from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.17.
In other news, insider Michael Joseph Cronin sold 16,460 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $17.11, for a total transaction of $281,630.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Timothy Alan Peterson sold 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $18.11, for a total value of $99,605.00. Following the transaction, the director now directly owns 54,166 shares in the company, valued at $980,946.26. The disclosure for this sale can be found here. 1.62% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Preferred Apartment Communities during the second quarter valued at approximately $122,000. Sun Life Financial INC purchased a new position in shares of Preferred Apartment Communities during the second quarter valued at approximately $150,000. Sei Investments Co. increased its stake in shares of Preferred Apartment Communities by 61.3% during the second quarter. Sei Investments Co. now owns 9,930 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 3,774 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Preferred Apartment Communities by 90.0% during the first quarter. Envestnet Asset Management Inc. now owns 11,779 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 5,579 shares during the period. Finally, Mount Yale Investment Advisors LLC purchased a new position in shares of Preferred Apartment Communities during the first quarter valued at approximately $168,000. 55.15% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:APTS traded up $0.22 during mid-day trading on Friday, reaching $16.87. The stock had a trading volume of 368,175 shares, compared to its average volume of 370,341. The company has a market capitalization of $703.88 million, a price-to-earnings ratio of 11.48, a PEG ratio of 1.71 and a beta of 0.34. Preferred Apartment Communities has a one year low of $13.60 and a one year high of $22.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.05 and a quick ratio of 0.05.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 14th will be paid a $0.255 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.02 dividend on an annualized basis and a yield of 6.05%. Preferred Apartment Communities’s dividend payout ratio (DPR) is currently 69.39%.
About Preferred Apartment Communities
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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