Analysts Expect Preferred Apartment Communities Inc. (APTS) Will Announce Earnings of $0.34 Per Share

Analysts expect Preferred Apartment Communities Inc. (NYSE:APTS) to post $0.34 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Preferred Apartment Communities’ earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.36. Preferred Apartment Communities posted earnings of $0.38 per share during the same quarter last year, which suggests a negative year over year growth rate of 10.5%. The business is scheduled to report its next earnings results on Monday, July 29th.

According to Zacks, analysts expect that Preferred Apartment Communities will report full year earnings of $1.45 per share for the current year, with EPS estimates ranging from $1.43 to $1.48. For the next financial year, analysts anticipate that the business will report earnings of $1.58 per share, with EPS estimates ranging from $1.56 to $1.60. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Preferred Apartment Communities.

Preferred Apartment Communities (NYSE:APTS) last posted its quarterly earnings data on Monday, April 29th. The real estate investment trust reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates 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 firm’s revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 EPS.

Several research firms have issued reports on APTS. ValuEngine raised Preferred Apartment Communities from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Boenning Scattergood reissued a “buy” rating on shares of Preferred Apartment Communities in a report on Tuesday, April 30th. Finally, Zacks Investment Research raised Preferred Apartment Communities from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.00.

Preferred Apartment Communities stock traded down $0.06 during mid-day trading on Friday, reaching $15.94. 424 shares of the stock traded hands, compared to its average volume of 220,634. The stock has a market cap of $694.19 million, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.55 and a beta of 0.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.07 and a current ratio of 0.07. Preferred Apartment Communities has a 12-month low of $13.14 and a 12-month high of $18.60.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $0.2625 dividend. This is a positive change from Preferred Apartment Communities’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 6.59%. Preferred Apartment Communities’s dividend payout ratio is 73.76%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Optimum Investment Advisors boosted its stake in shares of Preferred Apartment Communities by 100.0% in the fourth quarter. Optimum Investment Advisors now owns 2,000 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 1,000 shares during the period. Acadian Asset Management LLC bought a new position in shares of Preferred Apartment Communities in the first quarter worth about $38,000. Prime Capital Investment Advisors LLC bought a new position in shares of Preferred Apartment Communities in the first quarter worth about $44,000. New York State Teachers Retirement System bought a new position in shares of Preferred Apartment Communities in the first quarter worth about $52,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Preferred Apartment Communities by 43.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,170 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,259 shares during the period. 60.48% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Preferred Apartment Communities (NYSE:APTS)

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