Wall Street brokerages forecast that Preferred Apartment Communities, Inc. (NYSE:APTS) will report $106.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Preferred Apartment Communities’ earnings, with the lowest sales estimate coming in at $102.24 million and the highest estimate coming in at $110.92 million. Preferred Apartment Communities posted sales of $121.12 million in the same quarter last year, which suggests a negative year over year growth rate of 12%. The company is expected to issue its next quarterly earnings results on Monday, March 7th.
According to Zacks, analysts expect that Preferred Apartment Communities will report full-year sales of $449.92 million for the current fiscal year, with estimates ranging from $443.49 million to $456.34 million. For the next fiscal year, analysts forecast that the firm will report sales of $436.18 million, with estimates ranging from $424.37 million to $447.99 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Preferred Apartment Communities.
Preferred Apartment Communities (NYSE:APTS) last announced its earnings results on Monday, November 8th. The real estate investment trust reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($1.11). Preferred Apartment Communities had a return on equity of 2.04% and a net margin of 5.71%. During the same quarter in the prior year, the company posted $0.26 EPS.
Several large investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in Preferred Apartment Communities during the first quarter worth about $80,000. Dimensional Fund Advisors LP boosted its holdings in Preferred Apartment Communities by 15.1% during the first quarter. Dimensional Fund Advisors LP now owns 511,377 shares of the real estate investment trust’s stock worth $5,037,000 after purchasing an additional 67,108 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Preferred Apartment Communities by 47.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,686 shares of the real estate investment trust’s stock worth $361,000 after purchasing an additional 11,877 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Preferred Apartment Communities by 150.9% during the first quarter. Cubist Systematic Strategies LLC now owns 50,914 shares of the real estate investment trust’s stock worth $502,000 after purchasing an additional 30,618 shares during the last quarter. Finally, Amundi Asset Management US Inc. purchased a new position in Preferred Apartment Communities during the first quarter worth about $528,000. 49.40% of the stock is owned by institutional investors.
NYSE APTS traded up $0.17 during mid-day trading on Thursday, reaching $14.32. 146,356 shares of the stock were exchanged, compared to its average volume of 396,813. Preferred Apartment Communities has a one year low of $7.04 and a one year high of $14.56. The stock has a 50 day simple moving average of $12.75 and a 200-day simple moving average of $11.43. The stock has a market cap of $758.19 million, a P/E ratio of -4.68, a P/E/G ratio of 1.97 and a beta of 1.12.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 14th. Stockholders of record on Wednesday, December 15th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Tuesday, December 14th. Preferred Apartment Communities’s payout ratio is presently -22.88%.
About Preferred Apartment Communities
Preferred Apartment Communities, Inc engages in the acquisition and operation of multifamily properties in select targeted markets throughout the United States. It operates through the following segments: Multifamily Communities, Financing, New Market Properties, Preferred Office Properties, and Others.
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