Preferred Apartment Communities, Inc.

Symbol: APTS
CIK: 1481832
Exchange: NYSE
Founded: 2009 (11 years)
HQ: Atlanta, GA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Retail, Office, Residential
Externally Managed REIT

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See APTS on SEC.gov

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Overall Score: 6.7

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REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


Preferred Apartment Communities, Inc. Company Logo

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Hightlights of Trading Day January 24, 2020


Open Price: $13.46
Closing Price: $13.21
Price Change: -0.25 (-1.857%)
Lowest Price: $13.15
Highest Price: $13.55

52-Week Low: $12.75
52-Week High: $16.94
52-Week Change: -19.50%

5 Day Price Change: -0.37%
1 Month Price Change: 1.51%
3 Month Price Change: -7.87%
6 Month Price Change: -6.92%
YTD Price Change: 3.62%
1 Year Price Change: -17.98%
2 Year Price Change: -23.17%
5 Year Price Change: 36.51%

Dividend of Trading Day January 24, 2020


Dividend Yield: 7.949%*
Annualized Dividend: $1.05*
Dividend Yield (TTM): 7.911%
Annualized Dividend (TTM): $1.045
Ex Dividend Date: 2019-12-12
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)


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Key Stats of Trading Day January 24, 2020


Total Cash: $87,690,000
Current Debt: $180,943,000
Revenue: $403,176,000
Gross Profit: $107,469,000
Total Revenue: $403,176,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $249,971,000
Revenue Per Share: $9
Revenue Per Employee: N/A
Employee: N/A
Debt to Equity Ratio (D/E): 1.47
Profit Margin: 0.11%
Enterprise Value (EV): $2,904,612,961
Enterprise Value to Revenue (EV/R): 7.20
Price to Sales (P/S): 1.56
Price to Book (P/B): 0.38
Peg Ratio: 0.07
P/E Ratio: -6.74
P/E High: -8.63
P/E Low: -6.47
Forward P/E Ratio: -4.97
Market Capitalization: $616,496,288
Beta: 0.55
Latest Volume: 396,648.00
Avg. Total Volume: 317,701
Avg. 10 Volume: 299,997.50
Avg. 30 Volume: 317,701.47
TTM EPS: -1.96
TTM Dividend Rate: 1.05
Shares Outstanding: 45,812,500
Float: 45,367,065.00
50-Day Moving Avg.: 13.38
200-Day Moving Avg.: 14.46

Latest REIT Community Comments on #APTS


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Properties Owned by APTS


Properties Based on REIT's Official Presentation

Properties Types States Countries
91 4 13 1

Please visit REIT’s official webpage for the most up-to-date property list.

APTS Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website

Occupancy Rate


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Dividend History


Below are the most recent cash dividends paid by APTS. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date

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Financial Statements Overview

Balance Sheet (Quarterly)

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Amounts in USD ($)

Balance Sheet 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Current Cash 147,209,000 144,559,000 125,885,000 87,690,000
Receivables 0 0 0 0
Inventory 0 0 0 0
Current Assets 0 0 0 0
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 610,248,000 596,129,000 568,725,000 269,946,000
Property, Plant & Equipment Net 0 0 0 0
Goodwill 0 0 0 0
Intangible Assets 147,649,000 138,418,000 131,560,000 135,961,000
Other Assets 24,230,000 25,426,000 28,470,000 29,082,000
Net Tangible Assets 1,573,438,000 1,514,299,000 1,444,965,000 1,358,986,000
Total Assets 5,267,647,000 4,980,518,000 4,801,914,000 4,410,958,000
Accounts Payable 0 0 0 0
Liabilities (Other) 792,880,000 767,106,000 725,406,000 439,767,000
Current Liabilities (Other) 22,429,000 21,425,000 20,285,000 19,258,000
Total Current Liabilities 0 0 0 0
Current Long-term Debt 120,117,000 119,237,000 144,720,000 180,943,000
Long-term Debt 2,491,720,000 2,310,005,000 2,232,219,000 2,180,863,000
Total Liabilities 3,404,717,000 3,196,348,000 3,102,345,000 2,801,573,000
Minority Interest -59,000 -571,000 492,000 615,000
Common Stock 45,335,043 442,000 432,000 418,000
Retained Earnings 0 0 0 0
Treasury Stock 0 0 0 0
Capital Surplus 1,861,446,000 1,784,197,000 1,698,810,000 1,607,712,000
Shareholder Equity 1,861,919,000 1,784,658,000 1,699,260,000 1,608,146,000

Income Statement (Quarterly)

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Amounts in USD ($)

Income Statement 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Total Revenue 120,203,000 114,599,000 111,506,000 107,888,000
Cost of Revenue 83,101,000 79,460,000 77,048,000 77,717,000
Gross Profit 37,102,000 35,139,000 34,458,000 30,171,000
Research and Development 0 0 0 0
Selling General and Admin 0 0 0 0
Operating Expense 88,452,000 84,063,000 82,190,000 81,922,000
Operating Income 26,677,000 25,986,000 24,489,000 22,551,000
Income Expense Net (Other) -28,814,000 -27,663,000 -26,769,000 4,648,000
EBIT 26,677,000 25,986,000 24,489,000 22,551,000
Interest Income 28,799,000 27,611,000 26,756,000 26,592,000
Pretax Income -2,137,000 -1,677,000 -2,280,000 27,199,000
Income Tax 0 0 0 0
Minority Interest -59,000 -571,000 492,000 615,000
Net Income -2,083,000 -1,113,000 -2,774,000 26,581,000
Net Income Basic -31,529,000 -28,655,000 -28,313,000 2,641,000

Cash Flow

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Net Income -2,083,000 -1,113,000 -2,774,000 26,581,000
Depreciation 44,893,000 43,920,000 43,853,000 42,318,000
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change 2,650,000 18,674,000 38,195,000 1,319,000
Cash Flow 49,800,000 48,274,000 26,362,000 33,407,000
Capital Expenditures -13,604,000 -12,730,000 -7,917,000 -8,095,000
Investments -285,039,000 -122,039,000 -10,029,000 -307,600,000
Investing Activity (Other) -1,025,000 -19,407,000 -16,353,000 50,065,000
Total Investing Cash Flows -305,462,000 -168,576,000 -53,939,000 -256,122,000
Dividends Paid -40,265,000 -37,982,000 -35,709,000 -33,711,000
Net Borrowings 183,031,000 49,285,000 -28,100,000 148,894,000
Cash Flow Financing 258,312,000 138,976,000 65,772,000 224,034,000
Financing Cash Flows (Other) -6,566,000 -1,623,000 -907,000 433,000
Exchange Rate Effect 0 0 0 0

About Preferred Apartment Communities, Inc.


Preferred Apartment Communities, Inc. 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. As a secondary strategy, we may acquire or originate senior mortgage loans, subordinate loans or real estate loans secured by interests in multifamily properties, membership or partnership interests in multifamily properties and other multifamily related assets and invest a lesser portion of our assets in other real estate related investments, including other income-producing property types, senior mortgage loans, subordinate loans or real estate loans secured by interests in other income-producing property types, membership or partnership interests in other income-producing property types as determined by our manager as appropriate for us.

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
10 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 5.4
8 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.6
0 Dividend to AFFO Payout Ratio Trend: Analysis of the REIT’s Dividend to AFFO Payout Ratios trend during the last two years. 7.8
Rating AFFO & Efficiency Section Avg. Rating
8 AFFO Trend: Analysis of the REIT’s AFFO trend during the last two years. 8.7
4 AFFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.7
8 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 7.2
9 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 8.1
Rating Leverage Section Avg. Rating
3 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 5.0
5 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 5.9
9 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.8
6 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 7.4
5 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.1
6 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.9
Rating Asset & Revenue Section Avg. Rating
10 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.8
10 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.3
Rating Properties Section Avg. Rating
8 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 8.3
8 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 8.2
8 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.2
6.7 Overall REITRating™ Score 6.5

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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