DA Davidson Equities Analysts Cut Earnings Estimates for Preferred Apartment Communities Inc. (APTS)

Preferred Apartment Communities Inc. (NYSE:APTS) – Equities researchers at DA Davidson reduced their FY2018 EPS estimates for Preferred Apartment Communities in a research report issued on Tuesday, November 6th, according to Zacks Investment Research. DA Davidson analyst J. Lykins now expects that the real estate investment trust will post earnings of $1.40 per share for the year, down from their prior forecast of $1.49.

Preferred Apartment Communities (NYSE:APTS) last issued its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.09). Preferred Apartment Communities had a net margin of 3.29% and a return on equity of 0.88%. The business had revenue of $104.20 million during the quarter, compared to analyst estimates of $100.95 million. Preferred Apartment Communities’s quarterly revenue was up 39.1% compared to the same quarter last year.

APTS has been the topic of several other reports. Zacks Investment Research raised Preferred Apartment Communities from a “sell” rating to a “hold” rating in a report on Thursday, November 15th. B. Riley reissued a “neutral” rating on shares of Preferred Apartment Communities in a report on Wednesday, November 14th. Boenning Scattergood reissued a “buy” rating on shares of Preferred Apartment Communities in a report on Tuesday, November 6th. Finally, ValuEngine lowered Preferred Apartment Communities from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.80.

APTS traded up $0.17 during trading on Friday, hitting $15.13. The company’s stock had a trading volume of 231,100 shares, compared to its average volume of 353,148. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.04. Preferred Apartment Communities has a twelve month low of $13.60 and a twelve month high of $21.55. The firm has a market cap of $614.10 million, a P/E ratio of 10.29, a PEG ratio of 1.53 and a beta of 0.41.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 6.87%. The ex-dividend date is Thursday, December 13th. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.26. Preferred Apartment Communities’s dividend payout ratio (DPR) is 69.39%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Preferred Apartment Communities in the second quarter valued at approximately $122,000. Sun Life Financial INC purchased a new position in shares of Preferred Apartment Communities in the second quarter valued at approximately $150,000. Sei Investments Co. lifted its position in shares of Preferred Apartment Communities by 61.3% in the second quarter. Sei Investments Co. now owns 9,930 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 3,774 shares in the last quarter. Palo Capital Inc. purchased a new position in shares of Preferred Apartment Communities in the third quarter valued at approximately $211,000. Finally, Intrust Bank NA purchased a new position in shares of Preferred Apartment Communities in the second quarter valued at approximately $219,000. Institutional investors and hedge funds own 59.68% 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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