Preferred Apartment Communities: 3Q Earnings Snapshot
ATLANTA (AP) _ Preferred Apartment Communities Inc. (APTS) on Monday reported a key measure of profitability in its third quarter.
The Atlanta-based real estate investment trust said it had funds from operations of $14.2 million, or 31 cents per share, in the period.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had a loss of $31.5 million, or 71 cents per share.
The real estate investment trust posted revenue of $120.2 million in the period.
Preferred Apartment Communities expects full-year funds from operations to be $1.44 to $1.50 per share.
The company’s shares have climbed 1% since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.21, a decrease of 11% in the last 12 months.