Preferred Apartment Communities Inc. (NYSE:APTS) – Equities research analysts at DA Davidson issued their Q1 2019 earnings per share estimates for Preferred Apartment Communities in a research note issued to investors on Tuesday, November 6th. DA Davidson analyst J. Lykins forecasts that the real estate investment trust will earn $0.39 per share for the quarter. DA Davidson also issued estimates for Preferred Apartment Communities’ Q2 2019 earnings at $0.40 EPS, Q3 2019 earnings at $0.41 EPS and Q4 2019 earnings at $0.42 EPS.
Preferred Apartment Communities (NYSE:APTS) last posted its quarterly earnings results on Monday, November 5th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.09). The company had revenue of $104.20 million during the quarter, compared to analysts’ expectations of $100.95 million. Preferred Apartment Communities had a return on equity of 0.88% and a net margin of 3.29%. The firm’s revenue was up 39.1% on a year-over-year basis.
APTS opened at $15.52 on Thursday. The company has a quick ratio of 0.05, a current ratio of 0.06 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $619.00 million, a PE ratio of 10.56, a P/E/G ratio of 1.59 and a beta of 0.40. Preferred Apartment Communities has a 1 year low of $13.60 and a 1 year high of $22.71.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 6.70%. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, December 13th. Preferred Apartment Communities’s dividend payout ratio (DPR) is presently 69.39%.
In related news, Director Timothy Alan Peterson sold 5,500 shares of Preferred Apartment Communities stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $18.11, for a total value of $99,605.00. Following the completion of the sale, the director now directly owns 54,166 shares in the company, valued at approximately $980,946.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.62% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Preferred Apartment Communities during the 2nd quarter valued at about $122,000. Sun Life Financial INC bought a new stake in shares of Preferred Apartment Communities during the 2nd quarter valued at about $150,000. Sei Investments Co. grew its stake in shares of Preferred Apartment Communities by 61.3% during the 2nd quarter. Sei Investments Co. now owns 9,930 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 3,774 shares during the period. Palo Capital Inc. bought a new stake in shares of Preferred Apartment Communities during the 3rd quarter valued at about $211,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Preferred Apartment Communities during the 3rd quarter valued at about $224,000. Institutional investors own 56.48% of the company’s stock.
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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