Equities analysts expect that Preferred Apartment Communities Inc. (NYSE:APTS) will report earnings of $0.33 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Preferred Apartment Communities’ earnings, with estimates ranging from $0.32 to $0.35. Preferred Apartment Communities reported earnings per share of $0.37 during the same quarter last year, which indicates a negative year-over-year growth rate of 10.8%. The business is scheduled to announce its next earnings results after the market closes on Monday, April 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 $1.47. For the next fiscal year, analysts forecast that the company will report earnings of $1.60 per share, with EPS estimates ranging from $1.59 to $1.60. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Preferred Apartment Communities.
APTS has been the topic of a number of research analyst reports. ValuEngine raised Preferred Apartment Communities from a “hold” rating to a “buy” rating in a report on Monday, March 11th. Zacks Investment Research downgraded Preferred Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of Preferred Apartment Communities in a report on Tuesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $18.25.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prime Capital Investment Advisors LLC acquired a new stake in shares of Preferred Apartment Communities during the 1st quarter valued at $44,000. Pensionfund DSM Netherlands boosted its holdings in shares of Preferred Apartment Communities by 40.0% during the 1st quarter. Pensionfund DSM Netherlands now owns 70,000 shares of the real estate investment trust’s stock valued at $1,037,000 after acquiring an additional 20,000 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Preferred Apartment Communities by 14.7% during the 4th quarter. Geode Capital Management LLC now owns 451,922 shares of the real estate investment trust’s stock valued at $6,354,000 after acquiring an additional 58,015 shares in the last quarter. Hancock Whitney Corp boosted its holdings in shares of Preferred Apartment Communities by 24.2% during the 4th quarter. Hancock Whitney Corp now owns 356,599 shares of the real estate investment trust’s stock valued at $5,014,000 after acquiring an additional 69,475 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Preferred Apartment Communities by 11.7% during the 4th quarter. Legal & General Group Plc now owns 6,873 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 721 shares in the last quarter. 59.84% of the stock is currently owned by institutional investors.
Preferred Apartment Communities stock opened at $15.04 on Wednesday. Preferred Apartment Communities has a one year low of $13.14 and a one year high of $18.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market cap of $655.08 million, a price-to-earnings ratio of 10.67, a P/E/G ratio of 1.50 and a beta of 0.51.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date was Thursday, March 14th. Preferred Apartment Communities’s dividend payout ratio is presently 73.76%.
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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