Preferred Apartment Communities (APTS) Misses Q4 EPS by 2c, Revenues Beat

Preferred Apartment Communities (NYSE: APTS) reported Q4 EPS of ($0.71), $0.02 worse than the analyst estimate of ($0.69). Revenue for the quarter came in at $124.87 million versus the consensus estimate of $123.69 million.

"Our fourth quarter and 2019 full year results reflect consistently solid operating performance across all of our operating platforms, including multifamily same store NOI growth of 4.1% year over year and 5.1% quarter over quarter, all despite the impact to earnings from meaningful one-time expenses incurred for our internalization transaction. As we start 2020, we enjoy a simplified, investor-friendly structure with an optimized platform for future growth, substantial cash savings available for reinvestment, and strengthened alignment of management and shareholder interests. We are very excited for the future, as we continue to execute our proven strategies to drive growth in our core Sunbelt markets and create value in the years ahead," said Joel Murphy, Preferred Apartment Communities\' Chief Executive Officer.

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

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