Preferred Apartment Communities Inc. Forecasted to Earn FY2017 Earnings of $1.45 Per Share (APTS)
Preferred Apartment Communities Inc. (NYSE:APTS) – Equities research analysts at SunTrust Banks issued their FY2017 EPS estimates for Preferred Apartment Communities in a research note issued on Thursday. SunTrust Banks analyst M. Lewis expects that the real estate investment trust will post earnings per share of $1.45 for the year. SunTrust Banks currently has a “Hold” rating and a $20.00 price objective 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.
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%.
Other equities analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 14th. 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. Zacks Investment Research cut shares of Preferred Apartment Communities from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. 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. 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 investment 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 stock. The company has a consensus rating of “Buy” and a consensus target price 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.
Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in shares of Preferred Apartment Communities in the 3rd quarter valued at $2,022,000. Dana Investment Advisors Inc. bought a new stake in shares of Preferred Apartment Communities in the 3rd quarter valued at $2,536,000. Sterling Capital Management LLC bought a new stake in shares of Preferred Apartment Communities in the 3rd quarter valued at $905,000. Neuberger Berman Group LLC boosted its stake in shares of Preferred Apartment Communities by 1.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 334,736 shares of the real estate investment trust’s stock valued at $6,320,000 after purchasing an additional 3,356 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Preferred Apartment Communities by 59.7% in the 3rd quarter. California Public Employees Retirement System now owns 92,138 shares of the real estate investment trust’s stock valued at $1,740,000 after purchasing an additional 34,438 shares during the last quarter. 52.00% of the stock is currently owned by institutional investors.
In other news, insider Daniel M. Dupree sold 17,000 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $21.08, for a total value of $358,360.00. Following the sale, the insider now directly owns 99,564 shares of the company’s stock, valued at approximately $2,098,809.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael Joseph Cronin sold 2,500 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $21.25, for a total transaction of $53,125.00. Following the completion of the sale, 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 90 days, insiders acquired 1,850 shares of company stock valued at $39,349 and sold 21,500 shares valued at $452,685. Corporate insiders own 3.11% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 15th were given a $0.25 dividend. This is a boost from Preferred Apartment Communities’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 5.79%. The ex-dividend date of this dividend was Thursday, December 14th. Preferred Apartment Communities’s dividend payout ratio is -100.00%.
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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.
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