About Preferred Apartment Communities (NYSE:APTS)
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. The multifamily communities segment consists of its portfolio of owned residential multifamily communities. The real estate related financing segment consists of the Company's portfolio of real estate loans, bridge loans, and other instruments deployed by it to partially finance the development, construction, and prestabilization carrying costs of new multifamily communities and other real estate and real estate related assets. The new market properties segment consists of its portfolio of grocery-anchored shopping centers. The office buildings segment consists of its three office buildings located in Atlanta, Georgia and Birmingham, Alabama.
Industry, Sector and Symbol:
- Industry: Residential REITs
- Sub-Industry: N/A
- Sector: Residential REITs
- Symbol: NYSE:APTS
- CUSIP: N/A
- Web: pacapts.com
- Debt-to-Equity Ratio: 0.05%
- Current Ratio: 0.07%
- Quick Ratio: 0.07%
Sales & Book Value:
- Trailing P/E Ratio: 15.35
- Forward P/E Ratio: 14.33
- P/E Growth: 2.16
- Annual Sales: $200.12 million
- Price / Sales: 3.81
- Cash Flow: $2.67 per share
- Price / Cash: 7.79
- Book Value: $31.89 per share
- Price / Book: 0.65
- Annual Dividend: $0.94
- Dividend Yield: 4.4%
- Trailing EPS: ($1.00)
- Net Income: ($9,530,000.00)
- Net Margins: 10.49%
- Return on Equity: 2.78%
- Return on Assets: 1.08%
- Outstanding Shares: 36,690,000
Frequently Asked Questions for Preferred Apartment Communities (NYSE:APTS)
What is Preferred Apartment Communities' stock symbol?
Preferred Apartment Communities trades on the New York Stock Exchange (NYSE) under the ticker symbol "APTS."
How often does Preferred Apartment Communities pay dividends? What is the dividend yield for Preferred Apartment Communities?
Preferred Apartment Communities announced a quarterly dividend on Tuesday, October 24th. Investors of record on Friday, December 15th will be given a dividend of $0.25 per share on Tuesday, January 16th. This represents a $1.00 annualized dividend and a yield of 4.81%. The ex-dividend date is Thursday, December 14th. This is a boost from Preferred Apartment Communities's previous quarterly dividend of $0.24. View Preferred Apartment Communities' Dividend History.
How will Preferred Apartment Communities' stock buyback program work?
Preferred Apartment Communities declared that its Board of Directors has approved a share buyback plan on Wednesday, November 15th 2017, which allows the company to repurchase $2,000,000.00 in shares, according to EventVestor. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.
How were Preferred Apartment Communities' earnings last quarter?
Preferred Apartment Communities, Inc. (NYSE:APTS) released its quarterly earnings data on Monday, October, 30th. The real estate investment trust reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.31) by $0.18. The real estate investment trust had revenue of $74.90 million for the quarter, compared to the consensus estimate of $67.86 million. Preferred Apartment Communities had a return on equity of 2.78% and a net margin of 10.49%. View Preferred Apartment Communities' Earnings History.
Where is Preferred Apartment Communities' stock going? Where will Preferred Apartment Communities' stock price be in 2017?
4 Wall Street analysts have issued twelve-month target prices for Preferred Apartment Communities' shares. Their predictions range from $16.00 to $20.00. On average, they anticipate Preferred Apartment Communities' share price to reach $18.25 in the next year. View Analyst Ratings for Preferred Apartment Communities.
What are Wall Street analysts saying about Preferred Apartment Communities stock?
Here are some recent quotes from research analysts about Preferred Apartment Communities stock:
- 1. According to Zacks Investment Research, "Preferred Apartment Communities, Inc. is a real estate investment trust. The company acquire and operate multifamily properties primarily in the United States. It also acquire senior mortgage loans, subordinate loans or mezzanine debt secured by interests in multifamily properties, membership or partnership interests in multifamily properties and other multifamily assets. Preferred Apartment Communities, Inc. is based in Atlanta, United States. " (11/3/2017)
- 2. National Securities analysts commented, "APTS Update: But for APTS’ example, it’s as if the monks of the REIT monastery have prostrated themselves before their icon, and anointed its shareholders with exquisite returns. How so? Take for example of APTS’ near doubling of its balance sheet in 2016, the bulk of which was nearly perfectly timed before the run up in rates, with $500mln of acquisition financing secured at 50bps below where it would be today, essentially contributing an additional $0.11 of FFO per share. APTS’ retail operations are becoming a strong contributor to the earnings story, its NOI contributing 20.7% of the consolidated total in 1Q17. Further, APTS recent asset dispositions have provided among the highest IRR’s we’ve seen in the space, with a healthy 19.1% average annual return realized. On its stated goals of increasing core funds from operations “CFFO” per share of 10% or more per annum and increasing its common stock dividend 10% or more per annum, APTS has continued to deliver with 1Q17 CFFO up 20.61% Q/Q. For 2017 management guided to $1.40 - $1.48 of CFFO per share, for which we’re initially modeling $1.42.
A differentiator that must be mentioned is APTS’ proactive expansion of its student housing portfolio, a truly unique asset class that will allow APTS to enjoy longer average lease terms, read more profitable, than peers. It will be able to offer persons housing both during their secondary education years and immediately thereafter as those graduates migrate to hot employment hubs around the southeastern US, where APTS has a concentration of assets. We note that APTS has purchase options on some 2,034 units through 12/1/19, 35% of which are exercisable by 10/1/17 and in which each unit holds two beds, both of which pay rent individually.
We are reiterating our BUY rating on APTS and increasing our $16.00 price target to $20.00 to account for the significant embedded value of the owned real estate and purchase options APTS has yet to exercise and are entitled to.
Who are some of Preferred Apartment Communities' key competitors?
Some companies that are related to Preferred Apartment Communities include ARMOUR Residential REIT (ARR), Independence Realty Trust (IRT), New Senior Investment Group (SNR), NexPoint Residential Trust (NXRT), Altisource Residential (RESI), UMH Properties (UMH), Bluerock Residential Growth REIT (BRG), Clipper Realty (CLPR), BRT Apartments Corp. (BRT), American Residential Properties (ARPI), Campus Crest Communities (CCG), Colony Capital (CLNY) and Silver Bay Realty Trust Corp (SBY).
Who are Preferred Apartment Communities' key executives?
Preferred Apartment Communities' management team includes the folowing people:
- John A. Williams, Chairman of the Board, Chief Executive Officer (Age 73)
- Leonard A. Silverstein, President, Chief Operating Officer, Director (Age 58)
- Daniel M. DuPree, Vice Chairman of the Board, Chief Investment Officer (Age 70)
- Michael J. Cronin, Executive Vice President, Chief Accounting Officer, Treasurer (Age 62)
- William Randolph Forth, Executive Vice President, Chief Asset Management Officer
- Howard Alex McLure CPA, Lead Independent Director (Age 60)
- Joel Thomas Murphy, Director (Age 58)
- Steve J. Bartkowski, Independent Director (Age 64)
- Gary B. Coursey, Independent Director (Age 77)
- William J. Gresham Jr., Independent Director (Age 74)
Who owns Preferred Apartment Communities stock?
Preferred Apartment Communities' stock is owned by a number of of institutional and retail investors. Top institutional investors include JPMorgan Chase & Co. (3.25%), Hillcrest Asset Management LLC (1.82%), Schwab Charles Investment Management Inc. (1.12%), Neuberger Berman Group LLC (0.91%), Bank of New York Mellon Corp (0.94%) and Wells Fargo & Company MN (0.60%). Company insiders that own Preferred Apartment Communities stock include Daniel M Dupree, John A Williams, Leonard A Silverstein, Steve Bartkowski and William J Gresham Jr. View Institutional Ownership Trends for Preferred Apartment Communities.
Who sold Preferred Apartment Communities stock? Who is selling Preferred Apartment Communities stock?
Preferred Apartment Communities' stock was sold by a variety of institutional investors in the last quarter, including OxFORD Asset Management LLP, Russell Investments Group Ltd., ICM Asset Management Inc. WA and Nomura Asset Management Co. Ltd.. Company insiders that have sold Preferred Apartment Communities company stock in the last year include Daniel M Dupree, Steve Bartkowski and William J Gresham Jr. View Insider Buying and Selling for Preferred Apartment Communities.
Who bought Preferred Apartment Communities stock? Who is buying Preferred Apartment Communities stock?
Preferred Apartment Communities' stock was purchased by a variety of institutional investors in the last quarter, including Hillcrest Asset Management LLC, JPMorgan Chase & Co., Schwab Charles Investment Management Inc., Dana Investment Advisors Inc., EAM Investors LLC, 361 Capital LLC, Nationwide Fund Advisors and Bank of New York Mellon Corp. Company insiders that have bought Preferred Apartment Communities stock in the last two years include John A Williams, Leonard A Silverstein and Steve Bartkowski. View Insider Buying and Selling for Preferred Apartment Communities.
How do I buy Preferred Apartment Communities stock?
Shares of Preferred Apartment Communities can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Preferred Apartment Communities' stock price today?
One share of Preferred Apartment Communities stock can currently be purchased for approximately $20.78.
How big of a company is Preferred Apartment Communities?
Preferred Apartment Communities has a market capitalization of $688 million and generates $200.12 million in revenue each year. The real estate investment trust earns ($9,530,000.00) in net income (profit) each year or ($1.00) on an earnings per share basis.
How can I contact Preferred Apartment Communities?
Preferred Apartment Communities' mailing address is 3284 Northside Pkwy NW Ste 150, ATLANTA, GA 30327-2282, United States. The real estate investment trust can be reached via phone at +1-770-8184100 or via email at [email protected]
MarketBeat Community Rating for Preferred Apartment Communities (NYSE APTS)MarketBeat's community ratings are surveys of what our community members think about Preferred Apartment Communities and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
Analysts' Consensus Rating for Preferred Apartment Communities (NYSE:APTS) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus analyst ratings for company stocks using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||0 Sell Ratings, 2 Hold Ratings, 2 Buy Ratings, 0 Strong Buy Ratings|
|Consensus Rating:||Buy (Score: 2.50)|
|Consensus Price Target: ||$18.25 (12.18% downside)|
Consensus Price Target History for Preferred Apartment Communities (NYSE:APTS)
Analysts' Ratings History for Preferred Apartment Communities (NYSE:APTS)
(Data available from 11/18/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|11/2/2017||B. Riley||Reiterated Rating||Neutral||$16.00 -> $17.00||N/A|
|8/10/2017||Canaccord Genuity||Set Price Target||Buy||$17.00 -> $20.00||Low|
|7/11/2017||FBR & Co||Reiterated Rating||Market Perform||$16.00||High|
|5/23/2017||National Securities||Reiterated Rating||Buy -> Buy||$16.00 -> $20.00||Low|
|11/2/2016||Wunderlich||Lower Price Target||Buy||$15.50 -> $14.50||N/A|
|8/3/2016||Compass Point||Boost Price Target||Buy||$14.00 -> $16.50||N/A|
Earnings History and Estimates Chart for Preferred Apartment Communities (NYSE:APTS)
Earnings History by Quarter for Preferred Apartment Communities (NYSE APTS)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|10/30/2017||Q3 2017||($0.31)||($0.49)||$67.86 million||$74.90 million||View||N/A|
|7/31/2017||Q2 2017||$0.36||$0.37||$63.74 million||$70.89 million||View||N/A|
|2/27/2017||Q416||$0.32||($0.66)||$56.54 million||$58.99 million||View||N/A|
|8/1/2016||Q216||$0.31||$0.31||$45.23 million||$45.85 million||View||N/A|
|11/2/2015||Q315||$0.29||$0.32||$25.31 million||$29.96 million||View||N/A|
|8/3/2015||Q215||$0.29||$0.27||$23.44 million||$24.10 million||View||N/A|
|5/4/2015||Q115||$0.32||$0.24||$750.22 million||$21.30 million||View||N/A|
|3/9/2015||Q414||$0.28||$0.28||$17.20 million||$20.00 million||View||N/A|
|11/3/2014||Q3 2014||$0.26||$0.26||$10.99 million||$13.18 million||View||N/A|
Earnings Estimates for Preferred Apartment Communities (NYSE:APTS)
Current Year EPS Consensus Estimate: $1.45 EPS
Next Year EPS Consensus Estimate: $1.58 EPS
Current Dividend Information for Preferred Apartment Communities (NYSE:APTS)
|Dividend Growth:||10.20% (3 Year Average)|
|Payout Ratio:||-94.00% (Trailing 12 Months of Earnings) |
64.83% (Based on This Year's Estimates)
59.49% (Based on Next Year's Estimates)
Dividend History by Quarter for Preferred Apartment Communities (NYSE APTS)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Preferred Apartment Communities (NYSE APTS)
Insider Ownership Percentage: 3.11%
Institutional Ownership Percentage: 44.89%
Insider Trades by Quarter for Preferred Apartment Communities (NYSE APTS)
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|11/10/2017||John A Williams||CEO||Buy||600||$20.99||$12,594.00|| |
|11/10/2017||Leonard A Silverstein||Insider||Buy||500||$21.01||$10,505.00|| |
|5/31/2017||John A Williams||CEO||Buy||1,000||$15.31||$15,310.00|| |
|5/22/2017||John A Williams||CEO||Buy||1,150||$15.25||$17,537.50|| |
|3/16/2017||Daniel M Dupree||Insider||Sell||13,280||$12.87||$170,913.60|| |
|3/15/2017||Daniel M Dupree||Insider||Sell||10,000||$12.53||$125,300.00|| |
|3/10/2017||Daniel M Dupree||Insider||Sell||300||$13.00||$3,900.00|| |
|12/9/2016||William J Gresham Jr||Director||Sell||2,419||$14.11||$34,132.09|| |
|11/29/2016||Steve Bartkowski||Director||Sell||4,000||$14.13||$56,520.00|| |
|6/20/2016||Steve Bartkowski||Director||Sell||16,045||$14.13||$226,715.85|| |
|5/12/2016||John A Williams||CEO||Buy||1,500||$13.77||$20,655.00|| |
|11/25/2015||Steve Bartkowski||Director||Buy||4,500||$10.91||$49,095.00|| |
|9/11/2015||Steve Bartkowski||Director||Buy||5,000||$10.30||$51,500.00|| |
|9/3/2015||Daniel M Dupree||CIO||Buy||1,000||$10.30||$10,300.00|| |
|9/3/2015||Steve Bartkowski||Director||Buy||10,000||$10.30||$103,000.00|| |
|3/25/2015||Michael Joseph Cronin||Insider||Sell||16,487||$10.61||$174,927.07|| |
|3/18/2015||John A Williams||CEO||Buy||1,200||$10.50||$12,600.00|| |
|12/2/2014||Daniel M Dupree||CIO||Buy||8,500||$8.67||$73,695.00|| |
|9/16/2014||Daniel M Dupree||CIO||Buy||7,500||$8.50||$63,750.00|| |
|5/16/2014||John A Williams||CEO||Buy||1,800||$8.30||$14,940.00|| |
|12/5/2013||John A Williams||CEO||Buy||1,400||$7.85||$10,990.00|| |
|8/20/2013||Leonard A Silverstein||Insider||Buy||1,000||$8.59||$8,590.00|| |
|8/19/2013||John A Williams||CEO||Buy||1,300||$8.66||$11,258.00|| |
|6/14/2013||Leonard A Silverstein||Insider||Buy||2,400||$8.21||$19,704.00|| |
|11/30/2012||John A Williams||CEO||Buy||1,144||$7.97||$9,117.68|| |
Latest Headlines for Preferred Apartment Communities (NYSE APTS)
Preferred Apartment Communities (NYSE APTS) Chart for Saturday, November, 18, 2017