Brokerages Expect Preferred Apartment Communities Inc. (NYSE:APTS) to Post $0.37 EPS

Wall Street brokerages expect Preferred Apartment Communities Inc. (NYSE:APTS) to announce $0.37 earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for Preferred Apartment Communities’ earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.39. Preferred Apartment Communities posted earnings of $0.28 per share during the same quarter last year, which suggests a positive year over year growth rate of 32.1%. The firm is scheduled to announce its next quarterly earnings report on Monday, November 4th.

On average, 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 $1.44 to $1.45. For the next financial year, analysts expect that the firm will report earnings of $1.56 per share, with EPS estimates ranging from $1.55 to $1.57. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Preferred Apartment Communities.

Preferred Apartment Communities (NYSE:APTS) last posted its quarterly earnings data on Monday, July 29th. The real estate investment trust reported ($0.66) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.97). Preferred Apartment Communities had a net margin of 7.08% and a return on equity of 1.87%. The firm had revenue of $113.85 million for the quarter, compared to the consensus estimate of $115.58 million. During the same quarter last year, the firm earned $0.37 EPS. The company’s revenue was up 18.1% on a year-over-year basis.



APTS has been the topic of a number of analyst reports. DA Davidson cut shares of Preferred Apartment Communities from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 30th. Boenning Scattergood reiterated a “buy” rating on shares of Preferred Apartment Communities in a research report on Tuesday, April 30th. Compass Point reiterated a “buy” rating and set a $19.00 price target on shares of Preferred Apartment Communities in a research report on Monday, July 22nd. Zacks Investment Research cut shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, ValuEngine cut shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Preferred Apartment Communities presently has an average rating of “Hold” and a consensus price target of $18.75.

Several hedge funds and other institutional investors have recently bought and sold shares of APTS. Legal & General Group Plc raised its holdings in shares of Preferred Apartment Communities by 11.7% during the fourth quarter. Legal & General Group Plc now owns 6,873 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 721 shares during the period. Private Capital Group LLC raised its stake in shares of Preferred Apartment Communities by 18.6% in the 1st quarter. Private Capital Group LLC now owns 4,629 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 725 shares in the last quarter. Intrust Bank NA raised its stake in shares of Preferred Apartment Communities by 7.2% in the 1st quarter. Intrust Bank NA now owns 11,617 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 779 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Preferred Apartment Communities by 5.9% in the 4th quarter. Stifel Financial Corp now owns 15,917 shares of the real estate investment trust’s stock worth $223,000 after buying an additional 884 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Preferred Apartment Communities by 1.4% in the 1st quarter. Rhumbline Advisers now owns 64,173 shares of the real estate investment trust’s stock worth $951,000 after buying an additional 898 shares in the last quarter. Hedge funds and other institutional investors own 60.25% of the company’s stock.

APTS stock traded up $0.17 during mid-day trading on Friday, reaching $14.32. 205,900 shares of the stock traded hands, compared to its average volume of 263,169. Preferred Apartment Communities has a one year low of $13.14 and a one year high of $18.60. The stock has a market capitalization of $637.93 million, a PE ratio of 10.16, a PEG ratio of 1.42 and a beta of 0.41. The business has a 50-day moving average price of $14.63 and a two-hundred day moving average price of $15.37.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a $0.262 dividend. This represents a $1.05 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date is Thursday, September 12th. Preferred Apartment Communities’s payout ratio is presently 74.47%.

Preferred Apartment Communities Company Profile

Preferred Apartment Communities, Inc is a Maryland corporation formed primarily to own and operate multifamily properties and, to a lesser extent, own and operate student housing properties, grocery-anchored shopping centers and strategically located, well leased class A office buildings, all in select targeted markets throughout the United States.

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Earnings History and Estimates for Preferred Apartment Communities (NYSE:APTS)

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