Preferred Apartment Communities (NYSE:APTS) Posts Earnings Results, Misses Expectations By $0.97 EPS

Preferred Apartment Communities (NYSE:APTS) released its earnings results on Monday. The real estate investment trust reported ($0.66) earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.97), Fidelity Earnings reports. The firm had revenue of $113.85 million during the quarter, compared to analysts’ expectations of $115.58 million. Preferred Apartment Communities had a return on equity of 1.92% and a net margin of 7.08%. The business’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the business earned $0.37 earnings per share. Preferred Apartment Communities updated its FY 2019 guidance to $1.44-1.50 EPS and its FY19 guidance to $1.44-1.50 EPS.

Shares of APTS opened at $14.49 on Thursday. The company’s 50 day moving average is $14.87. Preferred Apartment Communities has a 52 week low of $13.14 and a 52 week high of $18.60. The stock has a market capitalization of $616.52 million, a P/E ratio of 10.28, a PEG ratio of 1.39 and a beta of 0.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.07 and a quick ratio of 0.07.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were given a dividend of $0.2625 per share. The ex-dividend date was Thursday, June 13th. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.26. This represents a $1.05 dividend on an annualized basis and a yield of 7.25%. Preferred Apartment Communities’s payout ratio is presently 74.47%.

A number of institutional investors and hedge funds have recently made changes to their positions in APTS. Homrich & Berg acquired a new stake in Preferred Apartment Communities in the first quarter valued at approximately $744,000. Northern Trust Corp lifted its stake in Preferred Apartment Communities by 1.9% in the fourth quarter. Northern Trust Corp now owns 538,225 shares of the real estate investment trust’s stock valued at $7,566,000 after acquiring an additional 10,227 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in Preferred Apartment Communities by 161.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,782 shares of the real estate investment trust’s stock valued at $208,000 after acquiring an additional 9,127 shares during the last quarter. Stifel Financial Corp lifted its stake in Preferred Apartment Communities by 5.9% in the fourth quarter. Stifel Financial Corp now owns 15,917 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 884 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Preferred Apartment Communities by 7.8% in the fourth quarter. BlackRock Inc. now owns 3,464,622 shares of the real estate investment trust’s stock valued at $48,713,000 after acquiring an additional 249,383 shares during the last quarter. 60.96% of the stock is currently owned by hedge funds and other institutional investors.

APTS has been the topic of several analyst reports. ValuEngine downgraded shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. Zacks Investment Research downgraded shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. DA Davidson downgraded shares of Preferred Apartment Communities from a “buy” rating to a “neutral” rating in a research report on Tuesday. Boenning Scattergood reissued a “buy” rating on shares of Preferred Apartment Communities in a research report on Tuesday, April 30th. Finally, 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.75.

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 for Preferred Apartment Communities (NYSE:APTS)

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