FY2017 Earnings Forecast for Preferred Apartment Communities Inc. Issued By B. Riley (APTS)
Preferred Apartment Communities Inc. (NASDAQ:APTS) – Stock analysts at B. Riley issued their FY2017 earnings estimates for shares of Preferred Apartment Communities in a research report issued to clients and investors on Wednesday. B. Riley analyst C. Kucera anticipates that the real estate investment trust will earn $1.44 per share for the year. B. Riley currently has a “Neutral” rating and a $17.00 price target on the stock. B. Riley also issued estimates for Preferred Apartment Communities’ Q4 2017 earnings at $0.34 EPS, Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.38 EPS, Q3 2018 earnings at $0.39 EPS, Q4 2018 earnings at $0.40 EPS and FY2018 earnings at $1.55 EPS.
Preferred Apartment Communities (NASDAQ:APTS) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.18). The business had revenue of $74.90 million for the quarter, compared to analyst estimates of $67.86 million. Preferred Apartment Communities had a negative return on equity of 4.73% and a net margin of 4.66%. WARNING: This piece was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/11/08/fy2017-earnings-forecast-for-preferred-apartment-communities-inc-issued-by-b-riley-apts.html.
Several other research analysts have also weighed in on the stock. Canaccord Genuity set a $20.00 price objective on shares of Preferred Apartment Communities and gave the stock a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research cut shares of Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. FBR & Co reaffirmed a “market perform” rating and set a $16.00 target price on shares of Preferred Apartment Communities in a research report on Tuesday, July 11th. BidaskClub raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Finally, ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Preferred Apartment Communities currently has a consensus rating of “Buy” and an average target price of $19.20.
Preferred Apartment Communities (NASDAQ:APTS) opened at $20.71 on Monday. Preferred Apartment Communities has a 1-year low of $12.42 and a 1-year high of $21.13.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.83%. The ex-dividend date is Thursday, December 14th. This is a positive change from Preferred Apartment Communities’s previous quarterly dividend of $0.24.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in shares of Preferred Apartment Communities by 9.7% in the first 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 in the last quarter. Karp Capital Management Corp purchased a new stake in Preferred Apartment Communities in the 1st quarter worth approximately $223,000. American International Group Inc. grew its stake in shares of Preferred Apartment Communities by 7.4% during 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 buying an additional 966 shares during the period. Thrivent Financial For Lutherans purchased a new stake in shares of Preferred Apartment Communities during the 1st quarter valued at $870,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Preferred Apartment Communities by 5.2% during 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 in the last quarter.
About Preferred Apartment Communities
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.
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