SunTrust Banks Equities Analysts Reduce Earnings Estimates for Preferred Apartment Communities Inc. (NYSE:APTS)

Preferred Apartment Communities Inc. (NYSE:APTS) – Investment analysts at SunTrust Banks decreased their FY2021 EPS estimates for Preferred Apartment Communities in a research note issued to investors on Wednesday, January 15th. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will earn $1.57 per share for the year, down from their prior estimate of $1.58. SunTrust Banks also issued estimates for Preferred Apartment Communities’ FY2023 earnings at $1.55 EPS and FY2024 earnings at $1.47 EPS.

APTS has been the topic of several other research reports. Compass Point cut Preferred Apartment Communities from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Zacks Investment Research upgraded Preferred Apartment Communities from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $17.67.

Shares of APTS stock traded down $0.04 during mid-day trading on Friday, hitting $13.47. 1,295 shares of the company’s stock were exchanged, compared to its average volume of 315,872. Preferred Apartment Communities has a fifty-two week low of $12.75 and a fifty-two week high of $17.00. The stock has a 50-day simple moving average of $13.34 and a two-hundred day simple moving average of $14.03. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.03. The stock has a market cap of $618.48 million, a price-to-earnings ratio of 9.56 and a beta of 0.42.

Preferred Apartment Communities (NYSE:APTS) last released its quarterly earnings results on Monday, November 4th. The real estate investment trust reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($1.06). Preferred Apartment Communities had a return on equity of 1.19% and a net margin of 4.57%. The firm had revenue of $120.20 million during the quarter, compared to analyst estimates of $117.91 million. During the same quarter in the prior year, the company earned $0.28 EPS. The business’s revenue was up 15.4% on a year-over-year basis.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a $0.262 dividend. This represents a $1.05 annualized dividend and a dividend yield of 7.78%. The ex-dividend date was Thursday, December 12th. Preferred Apartment Communities’s dividend payout ratio (DPR) is currently 74.47%.

In other news, CEO Daniel M. Dupree bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average cost of $13.61 per share, with a total value of $136,100.00. Company insiders own 1.61% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. KCS Wealth Advisory purchased a new position in shares of Preferred Apartment Communities in the 3rd quarter worth $25,000. Tower Research Capital LLC TRC acquired a new position in shares of Preferred Apartment Communities during the 2nd quarter valued at $42,000. Marshall Wace LLP acquired a new position in shares of Preferred Apartment Communities during the 1st quarter valued at $80,000. Centaurus Financial Inc. lifted its position in shares of Preferred Apartment Communities by 5,704.2% during the 2nd quarter. Centaurus Financial Inc. now owns 8,300 shares of the real estate investment trust’s stock valued at $124,000 after acquiring an additional 8,157 shares during the period. Finally, Phocas Financial Corp. acquired a new position in shares of Preferred Apartment Communities during the 2nd quarter valued at $135,000. 59.17% of the stock is currently owned by institutional investors and hedge funds.

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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