Preferred Apartment Communities Inc. (NYSE:APTS) announced a quarterly dividend on Tuesday, May 1st, Wall Street Journal reports. Stockholders of record on Friday, June 15th will be paid a dividend of 0.255 per share by the real estate investment trust on Monday, July 16th. This represents a $1.02 annualized dividend and a dividend yield of 6.71%. The ex-dividend date is Thursday, June 14th. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.25.
Preferred Apartment Communities has increased its dividend by an average of 12.4% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Preferred Apartment Communities has a dividend payout ratio of 69.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Preferred Apartment Communities to earn $1.66 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 60.2%.
Shares of NYSE:APTS opened at $15.19 on Wednesday. The company has a current ratio of 0.06, a quick ratio of 0.06 and a debt-to-equity ratio of 0.02. Preferred Apartment Communities has a fifty-two week low of $13.60 and a fifty-two week high of $22.71. The stock has a market capitalization of $594.96 million, a PE ratio of 10.33, a PEG ratio of 1.49 and a beta of 0.32.
Preferred Apartment Communities (NYSE:APTS) last announced its quarterly earnings data on Monday, April 30th. The real estate investment trust reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.38. Preferred Apartment Communities had a return on equity of 1.02% and a net margin of 3.93%. The firm had revenue of $90.40 million during the quarter, compared to analysts’ expectations of $88.96 million. The company’s revenue for the quarter was up 35.7% compared to the same quarter last year. equities analysts predict that Preferred Apartment Communities will post 1.46 earnings per share for the current fiscal year.
Several research analysts recently issued reports on APTS shares. Zacks Investment Research raised Preferred Apartment Communities from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Monday. ValuEngine cut Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. B. Riley set a $16.00 target price on Preferred Apartment Communities and gave the company a “hold” rating in a research report on Tuesday, April 17th. SunTrust Banks set a $16.00 target price on Preferred Apartment Communities and gave the company a “hold” rating in a research report on Monday, April 9th. Finally, DA Davidson set a $18.00 target price on Preferred Apartment Communities and gave the company a “buy” rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $18.43.
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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