Brokerages forecast that Preferred Apartment Communities Inc. (NYSE:APTS) will post $113.39 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Preferred Apartment Communities’ earnings, with the highest sales estimate coming in at $114.44 million and the lowest estimate coming in at $111.35 million. Preferred Apartment Communities reported sales of $90.37 million in the same quarter last year, which would suggest a positive year over year growth rate of 25.5%. The company is scheduled to report its next earnings results after the market closes on Monday, April 29th.
According to Zacks, analysts expect that Preferred Apartment Communities will report full-year sales of $494.16 million for the current financial year, with estimates ranging from $464.72 million to $514.85 million. For the next fiscal year, analysts forecast that the business will report sales of $566.04 million, with estimates ranging from $504.65 million to $627.43 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Preferred Apartment Communities.
A number of analysts have issued reports on APTS shares. Zacks Investment Research downgraded Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. Boenning Scattergood reissued a “buy” rating on shares of Preferred Apartment Communities in a research report on Tuesday, February 26th. Finally, ValuEngine raised Preferred Apartment Communities from a “hold” rating to a “buy” rating in a research report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $19.00.
Institutional investors have recently bought and sold shares of the company. Optimum Investment Advisors boosted its holdings in shares of Preferred Apartment Communities by 100.0% in the fourth quarter. Optimum Investment Advisors now owns 2,000 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 1,000 shares during the period. Prime Capital Investment Advisors LLC bought a new position in shares of Preferred Apartment Communities in the first quarter worth $44,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Preferred Apartment Communities by 43.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,170 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,259 shares during the period. Legal & General Group Plc boosted its holdings in shares of Preferred Apartment Communities by 11.7% in the fourth quarter. Legal & General Group Plc now owns 6,873 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 721 shares during the period. Finally, Capital Investment Advisory Services LLC bought a new position in shares of Preferred Apartment Communities in the fourth quarter worth $102,000. 59.84% of the stock is owned by hedge funds and other institutional investors.
NYSE:APTS opened at $15.18 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.08 and a quick ratio of 0.08. Preferred Apartment Communities has a 1 year low of $13.14 and a 1 year high of $18.60. The firm has a market capitalization of $647.80 million, a price-to-earnings ratio of 10.74, a PEG ratio of 1.50 and a beta of 0.51.
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date of this dividend was Thursday, March 14th. Preferred Apartment Communities’s dividend payout ratio is currently 73.76%.
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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