Preferred Apartment Communities Inc. Forecasted to Earn FY2017 Earnings of $1.45 Per Share (APTS)

Preferred Apartment Communities Inc. (NYSE:APTS) – SunTrust Banks issued their FY2017 earnings per share (EPS) estimates for shares of Preferred Apartment Communities in a research note issued to investors on Thursday. SunTrust Banks analyst M. Lewis forecasts that the real estate investment trust will earn $1.45 per share for the year. SunTrust Banks currently has a “Hold” rating and a $20.00 price target on the stock. SunTrust Banks also issued estimates for Preferred Apartment Communities’ Q4 2017 earnings at $0.35 EPS, Q1 2018 earnings at $0.39 EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.39 EPS, Q4 2018 earnings at $0.37 EPS, FY2018 earnings at $1.54 EPS, FY2019 earnings at $1.65 EPS, FY2020 earnings at $1.82 EPS, FY2021 earnings at $1.87 EPS and FY2022 earnings at $2.07 EPS.

Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Preferred Apartment Communities from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Thursday, November 2nd. BidaskClub cut shares of Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 31st. National Securities upped their price target on shares of Preferred Apartment Communities from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. B. Riley restated a “neutral” rating and issued a $17.00 price target (up from $16.00) on shares of Preferred Apartment Communities in a research report on Thursday, November 2nd. Finally, ValuEngine upgraded shares of Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. Preferred Apartment Communities presently has an average rating of “Buy” and an average price target of $20.33.

Preferred Apartment Communities (APTS) opened at $17.27 on Monday. The stock has a market cap of $564.19, a P/E ratio of -17.27, a P/E/G ratio of 1.59 and a beta of 0.43. Preferred Apartment Communities has a 12-month low of $12.42 and a 12-month high of $22.71. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.05.

Preferred Apartment Communities (NYSE:APTS) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.18). The company had revenue of $74.90 million for the quarter, compared to analyst estimates of $67.86 million. Preferred Apartment Communities had a return on equity of 2.78% and a net margin of 10.49%.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th were paid a $0.25 dividend. This is a positive change from Preferred Apartment Communities’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date was Thursday, December 14th. Preferred Apartment Communities’s dividend payout ratio is currently -100.00%.

In related news, insider Daniel M. Dupree sold 17,000 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $21.08, for a total transaction of $358,360.00. Following the transaction, the insider now directly owns 99,564 shares of the company’s stock, valued at $2,098,809.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Joseph Cronin sold 2,500 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $21.25, for a total transaction of $53,125.00. Following the transaction, the insider now directly owns 16,460 shares in the company, valued at $349,775. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 1,850 shares of company stock worth $39,349 and sold 21,500 shares worth $452,685. Corporate insiders own 3.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. boosted its stake in Preferred Apartment Communities by 0.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 42,505 shares of the real estate investment trust’s stock worth $669,000 after acquiring an additional 361 shares in the last quarter. Advisor Group Inc. boosted its stake in Preferred Apartment Communities by 1.4% during the second quarter. Advisor Group Inc. now owns 36,273 shares of the real estate investment trust’s stock worth $572,000 after acquiring an additional 507 shares in the last quarter. Legal & General Group Plc boosted its stake in Preferred Apartment Communities by 13.3% during the second quarter. Legal & General Group Plc now owns 7,188 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 845 shares in the last quarter. First City Capital Management Inc. boosted its stake in Preferred Apartment Communities by 6.5% during the second quarter. First City Capital Management Inc. now owns 16,644 shares of the real estate investment trust’s stock worth $262,000 after acquiring an additional 1,021 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in Preferred Apartment Communities by 3.2% during the second quarter. California State Teachers Retirement System now owns 54,050 shares of the real estate investment trust’s stock worth $851,000 after acquiring an additional 1,700 shares in the last quarter. 52.00% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This story was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/01/17/preferred-apartment-communities-inc-forecasted-to-earn-fy2017-earnings-of-1-45-per-share-apts.html.

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.

Receive News & Ratings for Preferred Apartment Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Preferred Apartment Communities and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply