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Preferred Apartment Communities Balance Sheet 2021-2010 | APTS
Brief overview of Preferred Apartment Communities's balance sheet strength
This overview follows the five latest available annual observations between 2017 and 2021.
Across five periods, assets reached $3.6 billion versus $3.3 billion initially. Growth of +9.6% reflects gradual development.
Liabilities expanded faster than the asset base, +28.9% versus +9.6%. Debt-service capacity deserves attention.
The equity ratio is 28.7% versus 39.2% five periods ago. Capitalization remains workable.
Net debt stands at $2.4 billion, or 2.37x of equity. The debt cushion is limited.
Cash equals 0.8% of the balance sheet, compared with 0.6% five periods ago. This is the readily available cushion.
The accumulated result is -$172 million and remains below zero. The number alone does not explain whether losses, dividends or repurchases were the main cause.
Conclusion
Taken together, Preferred Apartment Communities's balance sheet indicators point to elevated risk. Asset growth does not offset weak funding sources.
Annual Balance Sheet Preferred Apartment Communities
| 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
2.43 B | 2.69 B | 2.62 B | 2.44 B | 1.84 B | 1.45 B | 702 M | 373 M | 174 M | 67.5 M | 51.1 M | - |
Long Term Debt |
2.34 B | 2.59 B | 2.57 B | 2.3 B | 1.78 B | 1.31 B | 661 M | 349 M | 141 M | 55.6 M | 55.6 M | - |
Long Term Debt Current |
117 M | 126 M | 146 M | 181 M | 83 M | 157 M | 43.3 M | 27.1 M | 42.8 M | 14.8 M | - | - |
Total Non Current Liabilities |
- | 2.69 B | 2.72 B | 2.64 B | 1.85 B | 1.37 B | 714 M | 370 M | 141 M | 56 M | 55.6 M | - |
Total Liabilities |
2.54 B | 2.84 B | 2.84 B | 2.8 B | 1.97 B | 1.54 B | 770 M | 400 M | 176 M | 73.2 M | 57.8 M | 1.49 M |
Deferred Revenue |
- | 36 M | 39.7 M | 43.5 M | 27.9 M | - | - | - | - | 302 K | 65.4 K | - |
Retained Earnings |
-172 M | -192 M | -7.24 M | - | 4.45 M | -23.2 M | -13.7 M | -11.3 M | -13.4 M | -9.41 M | -9.26 M | -766 K |
Total Assets |
3.56 B | 4.28 B | 4.77 B | 4.41 B | 3.25 B | 2.42 B | 1.3 B | 691 M | 342 M | 123 M | 92.5 M | 830 K |
Cash and Cash Equivalents |
30.2 M | 28.7 M | 94.4 M | 39 M | 21 M | 12.3 M | 2.44 M | 3.11 M | 9.18 M | 2.97 M | 4.55 M | 22.3 K |
Book Value |
1.02 B | 1.44 B | 1.93 B | 1.61 B | 1.28 B | 885 M | 525 M | 292 M | 166 M | 50.1 M | 34.6 M | -656 K |
Total Shareholders Equity |
1.02 B | 1.44 B | 1.93 B | 1.61 B | 1.28 B | 884 M | 523 M | 289 M | 165 M | 50.1 M | 34.6 M | -656 K |
All numbers in USD currency
Quarterly Balance Sheet Preferred Apartment Communities
| 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
- | - | - | 2.39 B | 2.34 B | 2.38 B | 2.64 B | 2.59 B | 2.59 B | 2.77 B | 2.76 B | 2.61 B | 2.57 B | 2.56 B | 2.43 B | 2.36 B | 2.3 B | 2.14 B | 2 B | 1.87 B | 1.78 B | 1.57 B | 1.4 B | 1.37 B | 1.31 B | 1.16 B | 943 M | 808 M | 661 M | 591 M | 484 M | 405 M | 349 M | 345 M | 141 M | 141 M | 141 M | 128 M | 128 M | 115 M | 55.6 M | 70.6 M | 55.6 M | 55.6 M | 55.6 M | 55.6 M | 55.6 M | 55.6 M |
Total Liabilities |
- | - | - | 2.59 B | 2.54 B | 2.6 B | 2.92 B | 2.85 B | 2.84 B | 3.06 B | 3.11 B | 3.05 B | 2.84 B | 3.4 B | 3.2 B | 3.1 B | 2.8 B | 2.64 B | 2.47 B | 2.03 B | 1.97 B | 1.76 B | 1.56 B | 1.58 B | 1.54 B | 1.34 B | 1.07 B | 931 M | 770 M | 661 M | 519 M | 454 M | 400 M | 445 M | 186 M | 179 M | 176 M | 158 M | 148 M | 120 M | 73.2 M | 73.3 M | 58 M | 57.8 M | 57.8 M | 57.8 M | 57.4 M | 57.8 M |
Retained Earnings |
- | - | - | -180 M | -172 M | -184 M | -194 M | -195 M | -192 M | -210 M | -207 M | -191 M | -7.24 M | -7.24 M | -7.24 M | -7.24 M | - | - | - | - | 4.45 M | 9.08 M | 9.04 M | 5.83 M | -23.2 M | -19.4 M | -16.8 M | -17 M | -13.7 M | -13.3 M | -11.6 M | -12.1 M | -11.3 M | -11.4 M | -8.23 M | -13.4 M | -13.4 M | -15 M | -15.1 M | -12.5 M | -9.41 M | -9.82 M | -9.97 M | -9.74 M | -9.26 M | -8.08 M | -5.18 M | -9.26 M |
Total Assets |
- | - | - | 3.74 B | 3.56 B | 3.66 B | 4.27 B | 4.23 B | 4.28 B | 4.73 B | 4.82 B | 4.83 B | 4.77 B | 5.27 B | 4.98 B | 4.8 B | 4.41 B | 4.15 B | 3.91 B | 3.39 B | 3.25 B | 2.93 B | 2.64 B | 2.54 B | 2.42 B | 2.12 B | 1.76 B | 1.54 B | 1.3 B | 1.1 B | 909 M | 789 M | 691 M | 688 M | 383 M | 355 M | 342 M | 280 M | 260 M | 222 M | 123 M | 117 M | 100 M | 93.5 M | 92.5 M | 94.2 M | 97.2 M | 92.5 M |
Cash and Cash Equivalents |
- | - | - | 117 M | 30.2 M | 54.6 M | 37.1 M | 32.3 M | 28.7 M | 30.3 M | 60.1 M | 120 M | 94.4 M | 86.2 M | 94.1 M | 80.4 M | 39 M | 26.8 M | 21.3 M | 19.7 M | 21 M | 17.1 M | 13.1 M | 13.4 M | 12.3 M | 10.5 M | 5.72 M | 4.7 M | 2.44 M | 8.05 M | 6.87 M | 7.61 M | 3.11 M | 13.6 M | 9.68 M | 9.11 M | 9.18 M | 5.45 M | 7.54 M | 5.45 M | 2.97 M | 2.5 M | 2.93 M | 5.24 M | 4.55 M | 5.05 M | 5.57 M | 4.55 M |
Book Value |
- | - | - | 1.15 B | 1.02 B | 1.06 B | 1.35 B | 1.39 B | 1.44 B | 1.67 B | 1.71 B | 1.78 B | 1.93 B | 1.86 B | 1.78 B | 1.7 B | 1.61 B | 1.51 B | 1.43 B | 1.36 B | 1.28 B | 1.17 B | 1.08 B | 967 M | 885 M | 785 M | 687 M | 606 M | 525 M | 444 M | 390 M | 335 M | 292 M | 243 M | 196 M | 176 M | 166 M | 122 M | 113 M | 102 M | 50.1 M | 43.6 M | 42 M | 35.7 M | 34.6 M | 36.4 M | 39.9 M | 34.6 M |
Total Shareholders Equity |
- | - | - | 1.15 B | 1.02 B | 1.06 B | 1.35 B | 1.39 B | 1.44 B | 1.67 B | 1.71 B | 1.78 B | 1.93 B | 1.86 B | 1.78 B | 1.7 B | 1.61 B | 1.51 B | 1.43 B | 1.36 B | 1.28 B | 1.17 B | 1.07 B | 967 M | 884 M | 783 M | 686 M | 605 M | 523 M | 441 M | 388 M | 333 M | 289 M | 241 M | 195 M | 175 M | 165 M | 121 M | 112 M | 64.4 M | 50.1 M | 43.6 M | 42 M | 35.7 M | 34.6 M | 36.4 M | 39.9 M | 34.6 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Preferred Apartment Communities, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Reit residential
| Issuer | Price | % 24h | Market Cap | Country | |
|---|---|---|---|---|---|
 |
American Campus Communities
ACC
|
- | 0.01 % | $ 9.11 B |  USA |
 |
UDR
UDR
|
$ 39.72 | 1.85 % | $ 13.1 B | USA |
 |
Bluerock Residential Growth REIT
BRG
|
- | -0.49 % | $ 813 M | USA |
 |
AvalonBay Communities
AVB
|
$ 192.45 | 1.08 % | $ 27.3 B | USA |
 |
Mid-America Apartment Communities
MAA
|
$ 137.38 | 1.28 % | $ 16.1 B | USA |
 |
BRT Apartments Corp.
BRT
|
$ 15.11 | 0.13 % | $ 272 M | USA |
 |
Equity LifeStyle Properties
ELS
|
$ 67.65 | 2.47 % | $ 13 B | USA |
 |
Apartment Investment and Management Company
AIV
|
$ 2.62 | 0.38 % | $ 362 M | USA |
 |
American Homes 4 Rent
AMH
|
$ 33.71 | -0.21 % | $ 12.5 B | USA |
 |
Invitation Homes
INVH
|
$ 30.11 | 0.2 % | $ 18.5 B | USA |
 |
Equity Residential
EQR
|
- | - | $ 26.1 B | USA |
 |
Sun Communities
SUI
|
$ 127.94 | 2.99 % | $ 16 B | USA |
 |
UMH Properties
UMH
|
$ 15.76 | 0.45 % | $ 1.32 B | USA |