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home / news releases / APTS - Preferred Apartment Communities Q4 beat helped by portfolio loan book growth

APTS - Preferred Apartment Communities Q4 beat helped by portfolio loan book growth

Preferred Apartment Communities Inc.
Preferred Apartment Communities (NYSE:APTS) beat fourth quarter consensus estimates, highlighted by growth in its portfolio and loan book. The REIT did not issue 2022 guidance due to the pending acquisition by Blackstone Real Estate Income Trust.  Q4 rental and other property revenues were $95.91M, down from $107.54M in Q4 2020. Q4 operating expenses of $83.04M slides from $95.43M in the same period a year ago. Q4 net gain on sale of real estate was $12.36M, down from $20.19M in Q4 of last year. Operating income of $34.93M fell from $45.43M in Q4 2020. Q4 interest expense of $23.28M declined from $27.95M the year-ago quarter. Real estate loan investments on its balance sheet were $196.42M in Q4, down from $279.89M in Q4 2020. Earlier, Preferred Apartment Communities FFO of $1.10 topped the $1.07 consensus.

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Preferred Apartment Communities Q4 beat helped by portfolio, loan book growth
Stock Information
Company Name: Preferred Apartment Communities Inc.
Stock Symbol: APTS
Market: NYSE
Website: pacapts.com
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