Preferred Apartment Communities (NYSE:APTS) updated its FY18 earnings guidance on Monday. The company provided earnings per share guidance of $1.43-1.47 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.48. The company issued revenue guidance of $400-440 million, compared to the consensus revenue estimate of $402.90 million.
Several research firms have commented on APTS. Zacks Investment Research lowered Preferred Apartment Communities from a hold rating to a sell rating in a research report on Friday, January 26th. SunTrust Banks began coverage on Preferred Apartment Communities in a research report on Thursday, January 11th. They set a hold rating and a $20.00 price target on the stock. ValuEngine raised Preferred Apartment Communities from a buy rating to a strong-buy rating in a research report on Sunday, December 31st. National Securities lifted their price target on Preferred Apartment Communities from $20.00 to $26.00 and gave the stock a buy rating in a research report on Wednesday, November 29th. Finally, BidaskClub raised Preferred Apartment Communities from a buy rating to a strong-buy rating in a research report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. Preferred Apartment Communities has a consensus rating of Buy and a consensus target price of $20.33.
Preferred Apartment Communities (NYSE APTS) remained flat at $$14.82 during trading hours on Monday. 331,947 shares of the company traded hands, compared to its average volume of 521,993. The firm has a market cap of $543.78, a price-to-earnings ratio of -14.82, a price-to-earnings-growth ratio of 1.46 and a beta of 0.19. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.05. Preferred Apartment Communities has a one year low of $12.42 and a one year high of $22.71.
In other news, insider Michael Joseph Cronin sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $21.25, for a total value of $53,125.00. Following the transaction, the insider now owns 16,460 shares of the company’s stock, valued at $349,775. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 4,500 shares of company stock worth $94,325. Corporate insiders own 3.11% of the company’s stock.
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Preferred Apartment Communities Company Profile
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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