Wall Street brokerages predict that Preferred Apartment Communities Inc. (NYSE:APTS) will announce $0.37 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Preferred Apartment Communities’ earnings. The highest EPS estimate is $0.37 and the lowest is $0.36. Preferred Apartment Communities reported earnings of $0.38 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.6%. The firm is expected to announce its next quarterly earnings report after the market closes on Monday, November 5th.

According to Zacks, analysts expect that Preferred Apartment Communities will report full year earnings of $1.47 per share for the current financial year, with EPS estimates ranging from $1.45 to $1.49. For the next year, analysts anticipate that the firm will post earnings of $1.64 per share, with EPS estimates ranging from $1.60 to $1.67. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Preferred Apartment Communities.

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

APTS has been the subject of several recent research reports. ValuEngine raised Preferred Apartment Communities from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st. Zacks Investment Research downgraded Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. Finally, Boenning Scattergood initiated coverage on Preferred Apartment Communities in a research note on Monday, September 17th. They issued an “outperform” rating and a $22.00 price objective for the company. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Preferred Apartment Communities has an average rating of “Buy” and an average target price of $19.17.

Shares of APTS stock traded up $0.22 on Friday, reaching $16.87. The company had a trading volume of 368,175 shares, compared to its average volume of 370,341. The stock has a market capitalization of $703.88 million, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.71 and a beta of 0.34. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.03. Preferred Apartment Communities has a one year low of $13.60 and a one year high of $22.71.

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

In other Preferred Apartment Communities news, Director Timothy Alan Peterson sold 5,500 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $18.11, for a total transaction of $99,605.00. Following the completion of the sale, the director now owns 54,166 shares of the company’s stock, valued at approximately $980,946.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Joseph Cronin sold 16,460 shares of the 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 disclosure for this sale can be found here. Corporate insiders own 1.62% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. increased its position in Preferred Apartment Communities by 18.2% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 23,400 shares of the real estate investment trust’s stock valued at $332,000 after purchasing an additional 3,600 shares during the period. Sei Investments Co. increased its position in 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. MetLife Investment Advisors LLC increased its position in Preferred Apartment Communities by 25.5% during the 2nd quarter. MetLife Investment Advisors LLC now owns 18,839 shares of the real estate investment trust’s stock valued at $320,000 after purchasing an additional 3,826 shares during the period. Hancock Holding Co. increased its position in Preferred Apartment Communities by 33.1% during the 1st quarter. Hancock Holding Co. now owns 17,637 shares of the real estate investment trust’s stock valued at $250,000 after purchasing an additional 4,388 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Preferred Apartment Communities by 37.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 16,174 shares of the real estate investment trust’s stock valued at $275,000 after purchasing an additional 4,395 shares during the period. 55.15% of the stock is owned by institutional investors and hedge funds.

Preferred Apartment Communities Company Profile

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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Earnings History and Estimates for Preferred Apartment Communities (NYSE:APTS)

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