Preferred Apartment Communities Inc. (NYSE:APTS) declared a quarterly dividend on Friday, February 22nd, Wall Street Journal reports. Shareholders of record on Friday, March 15th will be given a dividend of 0.26 per share by the real estate investment trust on Monday, April 15th. This represents a $1.04 annualized dividend and a yield of 6.46%. The ex-dividend date is Thursday, March 14th.
Preferred Apartment Communities has increased its dividend by an average of 12.5% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Preferred Apartment Communities has a payout ratio of 70.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Preferred Apartment Communities to earn $1.62 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 64.2%.
APTS stock opened at $16.10 on Wednesday. Preferred Apartment Communities has a 52 week low of $13.14 and a 52 week high of $18.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market cap of $690.72 million, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 1.43 and a beta of 0.53.
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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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