Analysts expect Preferred Apartment Communities Inc. (NYSE:APTS) to announce earnings per share (EPS) of $0.31 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Preferred Apartment Communities’ earnings, with estimates ranging from $0.25 to $0.36. Preferred Apartment Communities posted earnings of $0.38 per share in the same quarter last year, which would suggest a negative year over year growth rate of 18.4%. The business is scheduled to issue its next quarterly earnings report on Monday, July 29th.
According to Zacks, analysts expect that Preferred Apartment Communities will report full year earnings of $1.46 per share for the current fiscal year, with EPS estimates ranging from $1.44 to $1.48. For the next financial year, analysts forecast that the business will post earnings of $1.57 per share, with EPS estimates ranging from $1.56 to $1.57. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Preferred Apartment Communities.
Preferred Apartment Communities (NYSE:APTS) last posted its earnings results on Monday, April 29th. The real estate investment trust reported ($0.66) EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.99). The firm had revenue of $111.50 million for the quarter, compared to analysts’ expectations of $112.81 million. Preferred Apartment Communities had a net margin of 6.41% and a return on equity of 1.71%. The company’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 EPS.
A number of equities research analysts have recently issued reports on the stock. Boenning Scattergood reissued a “buy” rating on shares of Preferred Apartment Communities in a research note on Tuesday, April 30th. Zacks Investment Research upgraded shares of Preferred Apartment Communities from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, ValuEngine cut shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a report on Thursday, June 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $20.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of APTS. Rhumbline Advisers raised its position in Preferred Apartment Communities by 40.5% in the 4th quarter. Rhumbline Advisers now owns 63,275 shares of the real estate investment trust’s stock valued at $890,000 after purchasing an additional 18,233 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of Preferred Apartment Communities during the 4th quarter worth $339,000. BlackRock Inc. grew its stake in shares of Preferred Apartment Communities by 7.8% during the 4th quarter. BlackRock Inc. now owns 3,464,622 shares of the real estate investment trust’s stock worth $48,713,000 after purchasing an additional 249,383 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Preferred Apartment Communities by 8.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 66,155 shares of the real estate investment trust’s stock worth $930,000 after purchasing an additional 5,150 shares during the period. Finally, Private Advisor Group LLC acquired a new position in shares of Preferred Apartment Communities during the 4th quarter worth $431,000. Institutional investors own 60.48% of the company’s stock.
Shares of Preferred Apartment Communities stock traded down $0.23 on Monday, reaching $14.69. The company had a trading volume of 302,905 shares, compared to its average volume of 254,456. The business has a 50 day simple moving average of $15.98. The stock has a market cap of $646.06 million, a price-to-earnings ratio of 10.42, a PEG ratio of 1.46 and a beta of 0.49. Preferred Apartment Communities has a 52-week low of $13.14 and a 52-week high of $18.60. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.01.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a yield of 7.15%. The ex-dividend date is Thursday, June 13th. This is a boost from Preferred Apartment Communities’s previous quarterly dividend of $0.26. Preferred Apartment Communities’s payout ratio is 74.47%.
About Preferred Apartment Communities
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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