Preferred Apartment Communities Inc. (NYSE:APTS) – Analysts at DA Davidson lowered their FY2018 earnings per share estimates for Preferred Apartment Communities in a research report issued to clients and investors on Thursday, Zacks Investment Research reports. DA Davidson analyst J. Lykins now expects that the real estate investment trust will post earnings per share of $1.43 for the year, down from their previous estimate of $1.61. DA Davidson currently has a “Buy” rating and a $18.00 price objective on the stock. DA Davidson also issued estimates for Preferred Apartment Communities’ FY2019 earnings at $1.61 EPS.
Preferred Apartment Communities (NYSE:APTS) last posted its earnings results on Monday, February 26th. The real estate investment trust reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.64) by $1.00. Preferred Apartment Communities had a return on equity of 2.46% and a net margin of 9.41%. The business had revenue of $81.65 million for the quarter, compared to analysts’ expectations of $83.27 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The business’s revenue was up 38.4% compared to the same quarter last year.
Preferred Apartment Communities (NYSE APTS) traded up $0.11 on Monday, hitting $14.63. The stock had a trading volume of 178,824 shares, compared to its average volume of 517,313. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.06 and a quick ratio of 0.06. Preferred Apartment Communities has a twelve month low of $12.45 and a twelve month high of $22.71. The firm has a market capitalization of $571.72, a PE ratio of -15.45, a P/E/G ratio of 1.44 and a beta of 0.37.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.84%. The ex-dividend date is Wednesday, March 14th. Preferred Apartment Communities’s dividend payout ratio (DPR) is presently -105.26%.
A number of hedge funds have recently modified their holdings of the stock. KCM Investment Advisors LLC increased its position in Preferred Apartment Communities by 6.2% in the 4th quarter. KCM Investment Advisors LLC now owns 317,420 shares of the real estate investment trust’s stock valued at $6,428,000 after acquiring an additional 18,550 shares during the period. MetLife Investment Advisors LLC purchased a new stake in Preferred Apartment Communities in the 4th quarter valued at approximately $304,000. Jane Street Group LLC purchased a new stake in Preferred Apartment Communities in the 4th quarter valued at approximately $217,000. Millennium Management LLC boosted its holdings in Preferred Apartment Communities by 102.2% in the 4th quarter. Millennium Management LLC now owns 238,559 shares of the real estate investment trust’s stock valued at $4,831,000 after purchasing an additional 120,554 shares in the last quarter. Finally, Teachers Advisors LLC boosted its holdings in Preferred Apartment Communities by 14.5% in the 4th quarter. Teachers Advisors LLC now owns 702,050 shares of the real estate investment trust’s stock valued at $14,217,000 after purchasing an additional 88,996 shares in the last quarter. Hedge funds and other institutional investors own 58.39% of the company’s stock.
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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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