Equities research analysts expect Preferred Apartment Communities Inc. (NASDAQ:APTS) to report $0.36 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Preferred Apartment Communities’ earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.35. Preferred Apartment Communities reported earnings per share of $0.31 during the same quarter last year, which would indicate a positive year over year growth rate of 16.1%. The company is expected to issue its next earnings report after the market closes on Monday, July 31st.
On average, analysts expect that Preferred Apartment Communities will report full year earnings of $1.43 per share for the current year, with EPS estimates ranging from $1.42 to $1.44. For the next financial year, analysts expect that the business will post earnings of $1.50 per share, with EPS estimates ranging from $1.47 to $1.54. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Preferred Apartment Communities.
APTS has been the subject of a number of research reports. Zacks Investment Research lowered shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. National Securities reiterated a “buy” rating and issued a $20.00 price objective (up previously from $16.00) on shares of Preferred Apartment Communities in a report on Tuesday, May 23rd. FBR & Co set a $15.00 price objective on shares of Preferred Apartment Communities and gave the company a “hold” rating in a report on Wednesday, May 31st. Finally, BidaskClub lowered shares of Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $16.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in Preferred Apartment Communities by 15.6% in the fourth quarter. State Street Corp now owns 360,122 shares of the real estate investment trust’s stock valued at $5,369,000 after buying an additional 48,597 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Preferred Apartment Communities by 0.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 17,845 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 78 shares during the last quarter. Teachers Advisors LLC raised its position in Preferred Apartment Communities by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 49,415 shares of the real estate investment trust’s stock valued at $737,000 after buying an additional 1,789 shares during the last quarter. Koshinski Asset Management Inc. raised its position in Preferred Apartment Communities by 0.8% in the first quarter. Koshinski Asset Management Inc. now owns 35,337 shares of the real estate investment trust’s stock valued at $467,000 after buying an additional 288 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. purchased a new position in Preferred Apartment Communities during the first quarter valued at about $121,000.
Shares of Preferred Apartment Communities (NASDAQ APTS) traded up 1.96% during midday trading on Friday, hitting $17.19. 221,140 shares of the stock traded hands. Preferred Apartment Communities has a 52 week low of $12.02 and a 52 week high of $17.22. The firm’s 50-day moving average is $16.15 and its 200 day moving average is $14.67. The company’s market capitalization is $482.83 million.
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About Preferred Apartment Communities
Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company is formed to acquire and operate multifamily properties in select targeted markets throughout the United States. It operates through segments, including multifamily communities, real estate related financing, new market properties and office buildings.
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