Preferred Apartment Communities (NYSE:APTS) updated its FY18 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.39-1.42 for the period, compared to the Thomson Reuters consensus estimate of $1.49. Preferred Apartment Communities also updated its FY 2018 guidance to $1.39-1.42 EPS.
A number of equities analysts have weighed in on the stock. ValuEngine lowered shares of Preferred Apartment Communities from a hold rating to a sell rating in a research report on Friday. Zacks Investment Research upgraded shares of Preferred Apartment Communities from a sell rating to a hold rating in a research report on Thursday, August 2nd. Finally, Boenning Scattergood assumed coverage on shares of Preferred Apartment Communities in a research report on Monday, September 17th. They issued an outperform rating and a $22.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $19.17.
Shares of APTS stock traded up $0.35 during mid-day trading on Monday, hitting $16.29. The company had a trading volume of 151,875 shares, compared to its average volume of 359,426. Preferred Apartment Communities has a 52-week low of $13.60 and a 52-week high of $22.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.05 and a current ratio of 0.05. The company has a market capitalization of $638.22 million, a PE ratio of 11.08, a price-to-earnings-growth ratio of 1.55 and a beta of 0.40.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 6.38%. The ex-dividend date of this dividend is Thursday, December 13th. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.26. Preferred Apartment Communities’s payout ratio is 69.39%.
In other news, insider Michael Joseph Cronin sold 16,460 shares of the business’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $17.11, for a total value of $281,630.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy Alan Peterson sold 5,500 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $18.11, for a total transaction of $99,605.00. Following the completion of the transaction, the director now directly owns 54,166 shares in the company, valued at approximately $980,946.26. The disclosure for this sale can be found here. 1.62% of the stock is currently owned by 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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