Preferred Apartment (APTS) Expected to Earn Q1 2018 Earnings of $0.33 Per Share

Preferred Apartment (NYSE:APTS) – Equities researchers at DA Davidson boosted their Q1 2018 earnings per share (EPS) estimates for Preferred Apartment in a research report issued to clients and investors on Monday, April 9th. DA Davidson analyst J. Lykins now forecasts that the real estate investment trust will post earnings per share of $0.33 for the quarter, up from their previous forecast of $0.32. DA Davidson currently has a “Buy” rating and a $18.00 target price on the stock. DA Davidson also issued estimates for Preferred Apartment’s Q3 2018 earnings at $0.38 EPS, Q4 2018 earnings at $0.41 EPS and FY2018 earnings at $1.46 EPS.

A number of other research analysts have also recently issued reports on APTS. Zacks Investment Research upgraded shares of Preferred Apartment from a “strong sell” rating to a “hold” rating in a research note on Wednesday. SunTrust Banks set a $16.00 target price on shares of Preferred Apartment and gave the company a “hold” rating in a research note on Monday. B. Riley set a $16.00 target price on shares of Preferred Apartment and gave the company a “hold” rating in a research note on Wednesday, February 28th. Finally, ValuEngine upgraded shares of Preferred Apartment from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Preferred Apartment currently has a consensus rating of “Buy” and an average price target of $19.29.



NYSE APTS opened at $14.39 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.06 and a current ratio of 0.06. The company has a market cap of $558.80, a price-to-earnings ratio of 9.79, a P/E/G ratio of 1.39 and a beta of 0.29. Preferred Apartment has a 1-year low of $13.60 and a 1-year high of $22.71.

Preferred Apartment (NYSE:APTS) last issued its quarterly earnings results on Monday, February 26th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $1.00. Preferred Apartment had a return on equity of 2.46% and a net margin of 9.41%. The company had revenue of $81.65 million for the quarter, compared to the consensus estimate of $83.27 million. During the same period last year, the business posted $0.32 earnings per share. The firm’s revenue was up 38.4% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date is Wednesday, March 14th. Preferred Apartment’s dividend payout ratio (DPR) is currently 68.03%.

A number of hedge funds have recently bought and sold shares of APTS. Nationwide Fund Advisors raised its position in Preferred Apartment by 102.4% in the 3rd quarter. Nationwide Fund Advisors now owns 152,750 shares of the real estate investment trust’s stock worth $2,884,000 after purchasing an additional 77,266 shares during the last quarter. Bank of New York Mellon Corp raised its position in Preferred Apartment by 25.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 333,013 shares of the real estate investment trust’s stock worth $6,287,000 after purchasing an additional 67,884 shares during the last quarter. JPMorgan Chase & Co. raised its position in Preferred Apartment by 119.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,158,689 shares of the real estate investment trust’s stock worth $21,841,000 after purchasing an additional 629,616 shares during the last quarter. Schroder Investment Management Group raised its position in Preferred Apartment by 59.4% in the 3rd quarter. Schroder Investment Management Group now owns 11,317 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 4,217 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Preferred Apartment by 8.0% in the 3rd quarter. Wells Fargo & Company MN now owns 211,839 shares of the real estate investment trust’s stock worth $4,000,000 after purchasing an additional 15,751 shares during the last quarter. Hedge funds and other institutional investors own 58.38% of the company’s stock.

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Preferred Apartment 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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