Preferred Apartment Communities(NYSE:APTS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $43.85M. Analysts estimated a revenue of $44.81M. Earnings per share were $0.31. Analysts had estimated an EPS of $0.31.
In a different note, On May 4, 2016, Compass Point said it Upgrades its rating on Preferred Apartment Communities. The shares have been rated ‘Buy’ by the firm.
Preferred Apartment Communities (APTS) made into the market gainers list on Mondays trading session with the shares advancing 0.76% or 0.11 points. Due to strong positive momentum, the stock ended at $14.51, which is also near the day’s high of $14.64. The stock began the session at $14.38 and the volume stood at 1,39,492 shares. The 52-week high of the shares is $15.3868 and the 52 week low is $8.69. The company has a current market capitalization of $336 M and it has 2,31,83,396 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On Jun 22, 2016, Steve Bartkowski (director) sold 16,045 shares at $14.13 per share price.Also, On May 13, 2016, John A Williams (CEO) purchased 1,500 shares at $13.78 per share price.On Sep 3, 2015, Leonard A Silverstein (director officer ) purchased 1,000 shares at $10.30 per share price, according to the Form-4 filing with the securities and exchange commission.
Preferred Apartment Communities Inc. is formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. The Company has three operational segments: multifamily communities retail and real estate related financing. Multifamily Communities segment consists of approximately 10 owned residential multifamily communities. Retail segment consists of approximately 10 owned grocery-anchored necessity retail shopping centers. Financing segment consists of its portfolio of mezzanine loans bridge loans and other financial instruments which partially finance the development construction and prestabilization carrying costs of new multifamily communities and other real estate and real estate related assets.