Analysts Offer Predictions for Preferred Apartment Communities Inc.’s Q3 2018 Earnings (APTS)

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Preferred Apartment Communities Inc. (NYSE:APTS) – Equities researchers at Boenning Scattergood issued their Q3 2018 earnings estimates for Preferred Apartment Communities in a report issued on Monday, September 17th, according to Zacks Investment Research. Boenning Scattergood analyst M. Ross forecasts that the real estate investment trust will post earnings per share of $0.36 for the quarter. Boenning Scattergood currently has a “Outperform” rating and a $22.00 price target on the stock. Boenning Scattergood also issued estimates for Preferred Apartment Communities’ Q4 2018 earnings at $0.35 EPS, FY2018 earnings at $1.46 EPS, Q1 2019 earnings at $0.39 EPS, Q2 2019 earnings at $0.41 EPS, Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.44 EPS and FY2019 earnings at $1.67 EPS.

Preferred Apartment Communities (NYSE:APTS) last released its quarterly earnings results on Monday, July 30th. The real estate investment trust reported ($0.66) EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($1.00). The firm had revenue of $96.39 million during the quarter, compared to analyst estimates of $95.18 million. Preferred Apartment Communities had a net margin of 1.21% and a return on equity of 0.32%. Preferred Apartment Communities’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 earnings per share.

APTS has been the topic of a number of other reports. Zacks Investment Research lowered shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. ValuEngine upgraded shares of Preferred Apartment Communities from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $19.17.

NYSE:APTS traded up $0.22 on Thursday, reaching $16.87. The stock had a trading volume of 368,175 shares, compared to its average volume of 370,341. The firm has a market cap of $703.88 million, a PE ratio of 11.48, a price-to-earnings-growth ratio of 1.71 and a beta of 0.34. Preferred Apartment Communities has a 1-year low of $13.60 and a 1-year high of $22.71. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.03.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. raised its stake in shares of Preferred Apartment Communities by 18.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 23,400 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 3,600 shares during the last quarter. Sei Investments Co. raised its stake in shares of Preferred Apartment Communities by 61.3% during the second quarter. Sei Investments Co. now owns 9,930 shares of the real estate investment trust’s stock worth $168,000 after buying an additional 3,774 shares during the last quarter. MetLife Investment Advisors LLC raised its stake in shares of Preferred Apartment Communities by 25.5% during the second quarter. MetLife Investment Advisors LLC now owns 18,839 shares of the real estate investment trust’s stock worth $320,000 after buying an additional 3,826 shares during the last quarter. Hancock Holding Co. raised its stake in shares of Preferred Apartment Communities by 33.1% during the first quarter. Hancock Holding Co. now owns 17,637 shares of the real estate investment trust’s stock worth $250,000 after buying an additional 4,388 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Preferred Apartment Communities by 37.3% during the second quarter. Envestnet Asset Management Inc. now owns 16,174 shares of the real estate investment trust’s stock worth $275,000 after buying an additional 4,395 shares during the last quarter. 55.15% of the stock is owned by institutional investors and hedge funds.

In other news, insider Michael Joseph Cronin sold 16,460 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $17.11, for a total transaction of $281,630.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy Alan Peterson sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $18.11, for a total transaction of $99,605.00. Following the transaction, the director now owns 54,166 shares in the company, valued at $980,946.26. The disclosure for this sale can be found here. 1.62% of the stock is currently owned by corporate insiders.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 14th will be given a dividend of $0.255 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 6.05%. Preferred Apartment Communities’s payout ratio is 69.39%.

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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