| UNITED STATES | |
| SECURITIES AND EXCHANGE COMMISSION | |
| Washington, D.C. 20549 | |
| Notice of Effectiveness | |
| Effectiveness Date: | June 24, 2022 |
| Accession Number: | 0001481832-22-000193 | ||||||
| Submission Type: | POS AM | ||||||
| |||||||
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/2/2022 | Buy → Hold | JonesTrading | |
| 9/1/2021 | $11.00 → $15.00 | Market Outperform | JMP Securities |
| 8/27/2021 | $11.00 → $13.50 | Buy | JonesTrading |
| 7/9/2021 | $11.50 | Buy | Colliers Securities |
JonesTrading downgraded Preferred Apartment from Buy to Hold
JMP Securities reiterated coverage of Preferred Apartment with a rating of Market Outperform and set a new price target of $15.00 from $11.00 previously
JonesTrading reiterated coverage of Preferred Apartment with a rating of Buy and set a new price target of $13.50 from $11.00 previously
Blackstone (NYSE:BX) and Preferred Apartments Communities, Inc. (NYSE:APTS) ("PAC" or the "Company") today announced that Blackstone Real Estate Income Trust, Inc. ("BREIT") has completed its previously announced acquisition of PAC for $25.00 per share of common stock, without interest, in an all-cash transaction valued at approximately $5.8 billion. The holders of each series of PAC's preferred stock will receive the $1,000 per share liquidation preference for each share of preferred stock plus accrued but unpaid dividends thereon, without interest. As a result of the transaction, PAC's common stock will no longer be listed on any public market. Joel T. Murphy, PAC's Chairman and Chief Ex
Preferred Apartment Communities, Inc. (NYSE:APTS) ("PAC" or the "Company") today announced that, in connection with its previously announced acquisition by Blackstone Real Estate Income Trust, Inc. ("BREIT"), which, subject to PAC stockholder approval at the upcoming special meeting and satisfaction of other customary conditions, is expected to close on or about June 9, 2022, PAC will: suspend voluntary redemptions of shares of Series A Redeemable Preferred Stock of the Company, $0.01 par value per share, Series A1 Redeemable Preferred Stock of the Company, $0.01 par value per share, Series M Redeemable Preferred Stock of the Company, $0.01 par value per share, and Series M1 Redeemable Pr
Total Revenues $104.9 million for Q1 2022; down 9.4% from Q1 2021 due primarily to absence of $18.7 million of office property revenues _____________ Net Loss per Share $(0.62) per share for Q1 2022; $0.11 per share improvement over Q1 2021 _____________ Core FFO per Share* $0.19 per share for Q1 2022 versus $0.25 per share for Q1 2021 _____________ AFFO per Share* $0.15 per share for Q1 2022 versus $0.18 per share for Q1 2021 _____________ Multifamily Same Store Results* Same-store rental and other property revenues increased 11.9% and same-store net operating income increased 15.9% for Q1 2022 versus Q1 2021 _____________ Two Real Estate Loans and One Preferred Equity Inves
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Extending Crawford Board to Ten Directors Crawford & Company® (NYSE:CRD) is pleased to announce the appointment of Joel Murphy as an independent director, effective June 25, 2024. Murphy boasts an impressive background with 35 years of experience in national capital markets, real estate acquisition and development, market analysis, board membership and legal expertise. From 2019 to 2022, Murphy served as president, CEO and board chair of Preferred Apartment Communities, Inc. (PAC) (NYSE:APTS). Prior to becoming CEO of PAC, Murphy founded and grew New Market Properties, LLC as a wholly owned subsidiary of PAC and served as president. Currently, he is chief executive officer of Murphy Cap
Blackstone (NYSE:BX) and Preferred Apartments Communities, Inc. (NYSE:APTS) ("PAC" or the "Company") today announced that Blackstone Real Estate Income Trust, Inc. ("BREIT") has completed its previously announced acquisition of PAC for $25.00 per share of common stock, without interest, in an all-cash transaction valued at approximately $5.8 billion. The holders of each series of PAC's preferred stock will receive the $1,000 per share liquidation preference for each share of preferred stock plus accrued but unpaid dividends thereon, without interest. As a result of the transaction, PAC's common stock will no longer be listed on any public market. Joel T. Murphy, PAC's Chairman and Chief Ex
ATLANTA, June 21, 2022 /PRNewswire/ -- NewStar Exchange (the "Company") announced today its acquisition of The Residences at Village Park Center, a built-to-rent single family residential community located in The Villages, approximately 55 miles northwest of Orlando, Florida. According to the U.S. Census Bureau, The Villages was the fastest growing U.S. metropolitan area for 2010 – 2019, and it is the largest active adult community in the world, with a total population of more than 130,000 spanning three counties and approximately 33,000 acres. The property is 100% leased and
Extending Crawford Board to Ten Directors Crawford & Company® (NYSE:CRD) is pleased to announce the appointment of Joel Murphy as an independent director, effective June 25, 2024. Murphy boasts an impressive background with 35 years of experience in national capital markets, real estate acquisition and development, market analysis, board membership and legal expertise. From 2019 to 2022, Murphy served as president, CEO and board chair of Preferred Apartment Communities, Inc. (PAC) (NYSE:APTS). Prior to becoming CEO of PAC, Murphy founded and grew New Market Properties, LLC as a wholly owned subsidiary of PAC and served as president. Currently, he is chief executive officer of Murphy Cap
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Preferred Apartment (NYSE:APTS) reported quarterly earnings of $0.19 per share. This is a 24 percent decrease over earnings of $0.25 per share from the same period last year. The company reported $104.90 million in sales this quarter. This is a 9.33 percent decrease over sales of $115.70 million the same period last year.
Truist Securities analyst Michael Lewis maintains Preferred Apartment (NYSE:APTS) with a Hold and raises the price target from $17 to $25.
Preferred Apartment Communities, Inc. (NYSE:APTS) (“PAC” or the “Company”) announced today the expiration of the 30-day “go-shop” period set forth in the previously announced definitive merger agreement with Blackstone Real Estate Income Trust, Inc. (“BREIT”), dated as of February 16, 2022 (the “merger agreement”). Under the terms of the merger agreement, BREIT has agreed to acquire all the outstanding shares of the Company’s common stock for $25.00 per share in an all-cash transaction valued at approximately $5.8 billion. The “go-shop” period expired at 11:59 p.m. Eastern Time on March 18, 2022. During the “go-shop” period, at the direction of PAC’s board of directors (the “Board”), repres