Preferred Apartment Communities (APTS) Releases FY 2018 Earnings Guidance

Preferred Apartment Communities (NYSE:APTS) updated its FY 2018 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.39-1.42 for the period. The company issued revenue guidance of $400-415 million, compared to the consensus revenue estimate of $393.66 million.

Several equities research analysts have recently issued reports on APTS shares. ValuEngine lowered Preferred Apartment Communities from a hold rating to a sell rating in a research note on Friday. Zacks Investment Research raised Preferred Apartment Communities from a sell rating to a hold rating in a research note on Thursday, August 2nd. Finally, 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 objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $19.17.

Shares of NYSE:APTS traded up $0.35 during trading on Monday, hitting $16.29. The company had a trading volume of 151,875 shares, compared to its average volume of 359,426. The firm has a market capitalization of $638.22 million, a price-to-earnings ratio of 11.08, a PEG ratio of 1.55 and a beta of 0.40. 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 disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 6.38%. This is a positive change from Preferred Apartment Communities’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, December 13th. Preferred Apartment Communities’s dividend payout ratio (DPR) is presently 69.39%.

In other news, insider Michael Joseph Cronin sold 16,460 shares of the firm’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 value of $281,630.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy Alan Peterson sold 5,500 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $18.11, for a total value of $99,605.00. Following the completion of the sale, the director now 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 company insiders.

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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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