Preferred Apartment Communities Inc. (NYSE:APTS) – SunTrust Banks dropped their Q2 2019 earnings per share (EPS) estimates for Preferred Apartment Communities in a note issued to investors on Monday, June 10th. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will post earnings of $0.25 per share for the quarter, down from their prior forecast of $0.34. SunTrust Banks also issued estimates for Preferred Apartment Communities’ Q1 2020 earnings at $0.36 EPS, Q2 2020 earnings at $0.38 EPS, Q4 2020 earnings at $0.43 EPS, FY2020 earnings at $1.57 EPS and FY2023 earnings at $1.51 EPS.
Preferred Apartment Communities (NYSE:APTS) last issued its earnings results on Monday, April 29th. The real estate investment trust reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.99). The business had revenue of $111.50 million for the quarter, compared to analyst estimates of $112.81 million. Preferred Apartment Communities had a return on equity of 1.71% and a net margin of 6.41%. The firm’s revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 EPS.
Several other analysts have also recently commented on the company. Boenning Scattergood reiterated a “buy” rating on shares of Preferred Apartment Communities in a report on Tuesday, April 30th. Zacks Investment Research upgraded Preferred Apartment Communities from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, ValuEngine upgraded Preferred Apartment Communities from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $20.00.
Shares of NYSE APTS opened at $15.76 on Wednesday. The stock has a market cap of $701.78 million, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.56 and a beta of 0.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.07 and a quick ratio of 0.07. Preferred Apartment Communities has a 12 month low of $13.14 and a 12 month high of $18.60.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APTS. BlackRock Inc. raised its position in Preferred Apartment Communities by 7.8% in the 4th quarter. BlackRock Inc. now owns 3,464,622 shares of the real estate investment trust’s stock valued at $48,713,000 after buying an additional 249,383 shares during the last quarter. Hillcrest Asset Management LLC raised its position in Preferred Apartment Communities by 35.3% in the 1st quarter. Hillcrest Asset Management LLC now owns 817,695 shares of the real estate investment trust’s stock valued at $12,118,000 after buying an additional 213,194 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Preferred Apartment Communities by 106.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 247,267 shares of the real estate investment trust’s stock valued at $3,477,000 after buying an additional 127,417 shares during the last quarter. Hancock Whitney Corp raised its position in Preferred Apartment Communities by 24.2% in the 4th quarter. Hancock Whitney Corp now owns 356,599 shares of the real estate investment trust’s stock valued at $5,014,000 after buying an additional 69,475 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Preferred Apartment Communities by 17.4% in the 4th quarter. Bank of New York Mellon Corp now owns 428,508 shares of the real estate investment trust’s stock valued at $6,025,000 after buying an additional 63,388 shares during the last quarter. 60.48% of the stock is owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a $0.2625 dividend. This is a positive change from Preferred Apartment Communities’s previous quarterly dividend of $0.26. This represents a $1.05 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date of this dividend is Thursday, June 13th. Preferred Apartment Communities’s dividend payout ratio is presently 73.76%.
Preferred Apartment Communities Company Profile
Preferred Apartment Communities, Inc is a Maryland corporation formed primarily to own and operate multifamily properties and, to a lesser extent, own and operate student housing properties, grocery-anchored shopping centers and strategically located, well leased class A office buildings, all in select targeted markets throughout the United States.
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