Seeking Alpha

Preferred Apartments lower after earnings miss

  • Adjusted FFO of $3.4M or $0.21 per share vs. $1.9M and $0.23 one year ago. The decline in the per share result is from the timing "anomaly" of the Series B Preferred Stock conversion. Adjusting for this, AFFO per share a year ago would have been $0.17. Dividend is $0.16.
  • Same-store rents up 4.3% Y/Y, with same-store NOI up 6.9%.
  • Planned acquisitions: Four multifamily communities with a total of 1,397 units are under agreement, along with nine grocery-anchored shopping centers.
  • Q3 AFFO guidance of $0.16-$0.21 per share.
  • Previously: Preferred Apartment Communities misses by $0.03, beats on revenue
  • APTS -1.1%
From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs