Preferred Apartment Communities Inc. (NASDAQ:APTS) – Stock analysts at DA Davidson dropped their FY2017 earnings per share estimates for shares of Preferred Apartment Communities in a research note issued on Wednesday. DA Davidson analyst J. Lykins now forecasts that the real estate investment trust will earn $1.46 per share for the year, down from their previous estimate of $1.48. DA Davidson also issued estimates for Preferred Apartment Communities’ Q4 2017 earnings at $0.35 EPS.

Preferred Apartment Communities (NASDAQ:APTS) last issued its quarterly earnings results on Monday, October 30th. The real estate investment trust reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.18). Preferred Apartment Communities had a negative return on equity of 4.73% and a net margin of 4.66%. The firm had revenue of $74.90 million for the quarter, compared to the consensus estimate of $67.86 million.

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Several other equities research analysts have also issued reports on APTS. Zacks Investment Research raised Preferred Apartment Communities from a “strong sell” rating to a “hold” rating in a research note on Friday, August 4th. BidaskClub lowered Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 31st. B. Riley lifted their price target on Preferred Apartment Communities from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 1st. Canaccord Genuity set a $20.00 price target on Preferred Apartment Communities and gave the stock a “buy” rating in a research note on Thursday, August 10th. Finally, ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $19.20.

Shares of Preferred Apartment Communities (NASDAQ:APTS) opened at $20.56 on Monday. Preferred Apartment Communities has a 52 week low of $12.42 and a 52 week high of $20.84.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APTS. Bank of New York Mellon Corp lifted its stake in shares of Preferred Apartment Communities by 9.7% in the 1st quarter. Bank of New York Mellon Corp now owns 236,883 shares of the real estate investment trust’s stock valued at $3,129,000 after acquiring an additional 20,995 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of Preferred Apartment Communities in the 1st quarter valued at about $223,000. American International Group Inc. lifted its stake in shares of Preferred Apartment Communities by 7.4% in the 1st quarter. American International Group Inc. now owns 14,006 shares of the real estate investment trust’s stock valued at $185,000 after acquiring an additional 966 shares during the last quarter. Thrivent Financial For Lutherans bought a new stake in shares of Preferred Apartment Communities in the 1st quarter valued at about $870,000. Finally, Vanguard Group Inc. lifted its stake in shares of Preferred Apartment Communities by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 1,149,673 shares of the real estate investment trust’s stock valued at $15,187,000 after acquiring an additional 56,507 shares during the last quarter.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend is Thursday, December 14th. This is a positive change from Preferred Apartment Communities’s previous quarterly dividend of $0.24.

Preferred Apartment Communities Company Profile

Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company is formed to acquire and operate multifamily properties in select targeted markets throughout the United States. It operates through segments, including multifamily communities, real estate related financing, new market properties and office buildings.

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

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