Preferred Apartment Communities Inc. (NYSE:APTS) - Research analysts at Truist Securiti decreased their Q3 2020 EPS estimates for shares of Preferred Apartment Communities in a research note issued on Tuesday, October 13th. Truist Securiti analyst M. Lewis now anticipates that the real estate investment trust will post earnings per share of $0.23 for the quarter, down from their prior estimate of $0.24. Preferred Apartment Communities (NYSE:APTS) last posted its quarterly earnings results on Monday, August 10th. The real estate investment trust reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.30). Preferred Apartment Communities had a negative return on equity of 10.73% and a negative net margin of 39.13%.
Other analysts also recently issued research reports about the company. ValuEngine upgraded Preferred Apartment Communities from a "strong sell" rating to a "sell" rating in a research note on Thursday, October 1st. Zacks Investment Research downgraded Preferred Apartment Communities from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 29th. Finally, DA Davidson reiterated a "neutral" rating on shares of Preferred Apartment Communities in a research note on Tuesday, August 11th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Preferred Apartment Communities currently has an average rating of "Hold" and an average price target of $7.63.
Preferred Apartment Communities stock opened at $5.42 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $273.43 million, a P/E ratio of -0.78 and a beta of 0.71. The stock's 50 day moving average is $6.04 and its 200 day moving average is $6.95. Preferred Apartment Communities has a twelve month low of $5.01 and a twelve month high of $14.69.
A number of institutional investors and hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. boosted its stake in shares of Preferred Apartment Communities by 14.0% in the 2nd quarter. D.A. Davidson & CO. now owns 12,865 shares of the real estate investment trust's stock worth $98,000 after buying an additional 1,581 shares during the last quarter. Stockman Wealth Management Inc. boosted its stake in shares of Preferred Apartment Communities by 3.1% in the 2nd quarter. Stockman Wealth Management Inc. now owns 52,095 shares of the real estate investment trust's stock worth $396,000 after buying an additional 1,590 shares during the last quarter. Clarus Wealth Advisors boosted its stake in shares of Preferred Apartment Communities by 5.7% in the 2nd quarter. Clarus Wealth Advisors now owns 30,188 shares of the real estate investment trust's stock worth $220,000 after buying an additional 1,636 shares during the last quarter. American International Group Inc. boosted its stake in shares of Preferred Apartment Communities by 7.4% in the 2nd quarter. American International Group Inc. now owns 29,094 shares of the real estate investment trust's stock worth $221,000 after buying an additional 1,995 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of Preferred Apartment Communities by 3.2% in the 2nd quarter. Strs Ohio now owns 73,675 shares of the real estate investment trust's stock worth $559,000 after buying an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 55.61% of the company's stock.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.70 annualized dividend and a yield of 12.92%. Preferred Apartment Communities's dividend payout ratio is 51.09%.
Preferred Apartment Communities Company Profile
Preferred Apartment Communities, Inc is a Maryland corporation formed primarily to own and operate multifamily properties and, to a lesser extent, own and operate student housing properties, grocery-anchored shopping centers and strategically located, well leased class A office buildings, all in select targeted markets throughout the United States.
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