Brokers Set Expectations for Preferred Apartment Communities Inc.’s Q3 2018 Earnings (APTS)
Preferred Apartment Communities Inc. (NYSE:APTS) – Investment analysts at Boenning Scattergood issued their Q3 2018 earnings estimates for shares of Preferred Apartment Communities in a research report issued on Monday, September 17th. Boenning Scattergood analyst M. Ross forecasts that the real estate investment trust will post earnings per share of $0.36 for the quarter. Boenning Scattergood has a “Outperform” rating and a $22.00 price target on the stock. Boenning Scattergood also issued estimates for Preferred Apartment Communities’ Q4 2018 earnings at $0.35 EPS, FY2018 earnings at $1.46 EPS, Q1 2019 earnings at $0.39 EPS, Q2 2019 earnings at $0.41 EPS, Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.44 EPS and FY2019 earnings at $1.67 EPS.
Preferred Apartment Communities (NYSE:APTS) last released its earnings results on Monday, July 30th. The real estate investment trust reported ($0.66) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($1.00). Preferred Apartment Communities had a return on equity of 0.32% and a net margin of 1.21%. The business had revenue of $96.39 million for the quarter, compared to analyst estimates of $95.18 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The business’s revenue for the quarter was up 36.0% on a year-over-year basis.
NYSE APTS opened at $17.50 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.05 and a current ratio of 0.05. Preferred Apartment Communities has a 12-month low of $13.60 and a 12-month high of $22.71. The company has a market cap of $736.71 million, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 1.79 and a beta of 0.32.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 14th will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 5.83%. The ex-dividend date is Thursday, September 13th. Preferred Apartment Communities’s dividend payout ratio (DPR) is 69.39%.
In other news, insider Michael Joseph Cronin sold 16,460 shares of the business’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 transaction of $281,630.60. The sale was disclosed in a document filed 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 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 sale, 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 owned by insiders.
Several large investors have recently made changes to their positions in the company. UBS Group AG lifted its stake in Preferred Apartment Communities by 7.1% in the 1st quarter. UBS Group AG now owns 71,896 shares of the real estate investment trust’s stock valued at $1,020,000 after buying an additional 4,745 shares in the last quarter. Northern Trust Corp lifted its stake in Preferred Apartment Communities by 8.7% in the 1st quarter. Northern Trust Corp now owns 436,367 shares of the real estate investment trust’s stock valued at $6,193,000 after buying an additional 35,030 shares in the last quarter. Element Capital Management LLC purchased a new stake in Preferred Apartment Communities in the 1st quarter valued at approximately $313,000. Fox Run Management L.L.C. purchased a new stake in Preferred Apartment Communities in the 2nd quarter valued at approximately $333,000. Finally, Swiss National Bank lifted its stake in Preferred Apartment Communities by 15.7% in the 2nd quarter. Swiss National Bank now owns 71,600 shares of the real estate investment trust’s stock valued at $1,216,000 after buying an additional 9,700 shares in the last quarter. 55.16% of the stock is currently owned by institutional investors and hedge funds.
Preferred Apartment Communities Company Profile
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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