Dane Bowler
Value, hedge fund analyst, REITs, long/short equity

Preferred Apartment Communities Nearly Doubles Its Assets Overnight

After market on July 28th, Preferred Apartment Communities (NYSE:APTS) announced a shockingly enormous group of acquisitions. In the press release, APTS detailed the purchase of 1,397 multifamily units for $181.7mm and in the following locations:

Where

# Units

Underlying acreage

Kansas City

364

29.3

Dallas

300

15.0

Nashville

364

30.5

Houston

369

31.5

Note that APTS is a very small REIT with a market cap of only $147mm, so a $181.7mm acquisition is going to have a massive effect on its outlook. It is therefore of great importance that current and prospective shareholders have a strong grasp of the direction of the effect. This article will analyze the available information to determine whether or not this sudden...

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