Preferred Apartment Communities (APTS) Misses Q2 EPS by 1c, Revenues Beat; Offers FY Revenue Outlook

Preferred Apartment Communities (NYSE: APTS) reported Q2 EPS of ($0.66), $0.01 worse than the analyst estimate of ($0.65). Revenue for the quarter came in at $96.39 million versus the consensus estimate of $94.92 million.

2018 Guidance:

Net income (loss) per share - We are actively adding properties and real estate loan investments to our real estate portfolio and the specific timing of the closing of acquisitions is difficult to predict. Acquisition activity by its nature can cause material variation in our reported depreciation and amortization expense and interest income. Since net income (loss) per share is calculated net of depreciation and amortization expense, our net income (loss) results can fluctuate, possibly significantly, depending upon the timing of the closing of acquisitions. For this reason, we are unable to reasonably forecast this measure or provide a reconciliation of our projected FFO per share to this measure.

FFO per share - We currently project FFO to be in the range of $1.43 - $1.47 per share for the full year 2018.

Revenue - We currently project total revenues to be in the range of $400 million - $440 million for the full year 2018.

GUIDANCE:

Preferred Apartment Communities sees FY2018 revenue of $400-440 million.

For earnings history and earnings-related data on Preferred Apartment Communities (APTS) click here.

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