Preferred Apartment Communities, Inc. (NYSE:APTS) Expected to Announce Quarterly Sales of $106.58 Million

Wall Street brokerages expect that Preferred Apartment Communities, Inc. (NYSE:APTS) will post sales of $106.58 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Preferred Apartment Communities’ earnings. The highest sales estimate is $110.92 million and the lowest is $102.24 million. Preferred Apartment Communities posted sales of $121.12 million during the same quarter last year, which would indicate a negative year over year growth rate of 12%. The business is expected to issue its next quarterly earnings report on Monday, March 7th.

On average, 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 financial year, analysts expect that the firm will report sales of $436.18 million, with estimates ranging from $424.37 million to $447.99 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Preferred Apartment Communities.

Preferred Apartment Communities (NYSE:APTS) last issued its quarterly earnings results on Monday, November 8th. The real estate investment trust reported ($0.92) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 last year, the company posted $0.26 earnings per share.

Several research firms have commented on APTS. Colliers Securities restated a “buy” rating and issued a $18.00 price objective on shares of Preferred Apartment Communities in a research report on Thursday, November 11th. Zacks Investment Research lowered Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, October 12th. B. Riley restated a “neutral” rating on shares of Preferred Apartment Communities in a research report on Tuesday, September 28th. Jonestrading upped their price objective on Preferred Apartment Communities from $11.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, August 27th. Finally, JMP Securities increased their target price on Preferred Apartment Communities from $11.00 to $15.00 and gave the company a “market outperform” rating in a research report on Wednesday, September 1st. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $14.88.

Large investors have recently made changes to their positions in the company. NEXT Financial Group Inc purchased a new position in shares of Preferred Apartment Communities during the 3rd quarter valued at approximately $32,000. JFS Wealth Advisors LLC raised its stake in Preferred Apartment Communities by 180.0% in the 3rd quarter. JFS Wealth Advisors LLC now owns 2,800 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 1,800 shares during the last quarter. Marshall Wace LLP acquired a new position in Preferred Apartment Communities in the 1st quarter valued at $80,000. Strategic Blueprint LLC acquired a new position in Preferred Apartment Communities in the 2nd quarter valued at $56,000. Finally, Penserra Capital Management LLC acquired a new position in Preferred Apartment Communities in the 3rd quarter valued at $87,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Preferred Apartment Communities stock traded up $0.17 during mid-day trading on Thursday, hitting $14.32. The company had a trading volume of 146,356 shares, compared to its average volume of 396,813. Preferred Apartment Communities has a 12-month low of $7.04 and a 12-month high of $14.56. The company’s fifty day moving average is $12.75 and its 200-day moving average is $11.43. The company has a market capitalization of $758.19 million, a price-to-earnings 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. The ex-dividend date of this dividend is Tuesday, December 14th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.89%. Preferred Apartment Communities’s dividend payout ratio (DPR) is -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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Earnings History and Estimates for Preferred Apartment Communities (NYSE:APTS)

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