Preferred Apartment Communities, Inc. Reports Results for First Quarter 2020
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Preferred Apartment Communities (APTS) Misses Q1 EPS, Revs Beat
May 11, 2020 4:57 PM EDTPreferred Apartment Communities (NYSE: APTS) reported Q1 EPS of ($4.44), $3.68 worse than the analyst estimate of ($0.76). Revenue for the quarter came in at $131.1 million versus the consensus estimate of $123.97 million.
Our net loss per share was $(4.44) and $(0.66) for the three-month periods ended March 31, 2020 and 2019, respectively. Funds From Operations, or FFO, for the three months ended March 31, 2020 was $(3.42) per weighted average share and unit outstanding and includes costs associated with the acquisition of Preferred Apartment Advisors, LLC (our "Former Manager") of approximately $178.8 million. Excluding these costs, our FFO per share was $0.31 for the three... More