Preferred Apartment Communities (APTS) Given Buy Rating at Boenning Scattergood

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Boenning Scattergood reaffirmed their buy rating on shares of Preferred Apartment Communities (NYSE:APTS) in a report published on Tuesday. Boenning Scattergood also issued estimates for Preferred Apartment Communities’ Q4 2018 earnings at $0.36 EPS, FY2018 earnings at $1.39 EPS, Q2 2019 earnings at $0.42 EPS, Q3 2019 earnings at $0.35 EPS, Q4 2019 earnings at $0.48 EPS and FY2019 earnings at $1.63 EPS.

A number of other equities analysts also recently commented on APTS. ValuEngine downgraded Preferred Apartment Communities from a hold rating to a sell rating in a report on Friday, November 2nd. Zacks Investment Research upgraded Preferred Apartment Communities from a sell rating to a hold rating in a report on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $19.17.

Shares of Preferred Apartment Communities stock traded down $0.43 during trading hours on Tuesday, reaching $15.52. The stock had a trading volume of 204,963 shares, compared to its average volume of 300,288. The company has a market cap of $619.00 million, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 1.59 and a beta of 0.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.06 and a quick ratio of 0.05. Preferred Apartment Communities has a 1 year low of $13.60 and a 1 year high of $22.71.

Preferred Apartment Communities (NYSE:APTS) last released its quarterly earnings data on Monday, November 5th. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The firm had revenue of $104.20 million during the quarter, compared to analysts’ expectations of $100.95 million. Preferred Apartment Communities had a return on equity of 0.88% and a net margin of 3.29%. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. Research analysts anticipate that Preferred Apartment Communities will post 1.39 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be issued a dividend of $0.26 per share. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.26. This represents a $1.04 annualized dividend and a dividend yield of 6.70%. The ex-dividend date is Thursday, December 13th. Preferred Apartment Communities’s dividend payout ratio (DPR) is presently 69.39%.

In related news, Director Timothy Alan Peterson sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $18.11, for a total transaction of $99,605.00. Following the sale, the director now directly owns 54,166 shares in the company, valued at approximately $980,946.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.62% of the company’s stock.

Several large investors have recently made changes to their positions in APTS. SG Americas Securities LLC purchased a new stake in shares of Preferred Apartment Communities during the 2nd quarter valued at about $122,000. Sun Life Financial INC purchased a new stake in Preferred Apartment Communities during the 2nd quarter worth approximately $150,000. Sei Investments Co. increased its holdings 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 worth $168,000 after purchasing an additional 3,774 shares during the last quarter. Palo Capital Inc. purchased a new stake in Preferred Apartment Communities during the 3rd quarter worth approximately $211,000. Finally, Intrust Bank NA purchased a new stake in Preferred Apartment Communities during the 2nd quarter worth approximately $219,000. Institutional investors and hedge funds own 56.48% of the company’s stock.

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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Analyst Recommendations for Preferred Apartment Communities (NYSE:APTS)

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