Preferred Apartment Communities, Inc. (APTS) Financial Statements (2024 and earlier)

Company Profile

Business Address 3284 NORTHSIDE PARKWAY NW
ATLANTA, GA 30327
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 6798 - Real Estate Investment Trusts (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2022
Q1
12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 54,56837,10532,32228,65730,337
Cash and cash equivalents 54,56837,10532,32228,65730,337
Receivables 9,0119,0119,0119,0119,011
Deferred costs 8,4527,5166,56021,44221,043
Total current assets: 72,03153,63247,89359,11060,391
Noncurrent Assets
Property, plant and equipment 911,125931,294913,504912,0071,014,296
Long-term investments and receivables 6,1016,2886,463 6,851
Long-term investments 6,1016,2886,463 6,851
Intangible assets, net (including goodwill) 67,897110,656118,388127,138133,297
Intangible assets, net (excluding goodwill) 67,897110,656118,388127,138133,297
Regulated entity, other noncurrent assets 2,0002,100400 800
Total noncurrent assets: 987,1231,050,3381,038,7551,039,1451,155,244
Other undisclosed assets 2,599,8813,166,2293,148,3203,182,8243,515,427
TOTAL ASSETS: 3,659,0354,270,1994,234,9684,281,0794,731,062
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 6,6387,8257,9977,8778,538
Interest and dividends payable 6,6387,8257,9977,8778,538
Debt 36,855139,788133,360125,74544,152
Total current liabilities: 43,493147,613141,357133,62252,690
Noncurrent Liabilities
Other undisclosed liabilities 2,555,4482,772,2062,706,7582,709,0093,007,514
Total liabilities: 2,598,9412,919,8192,848,1152,842,6313,060,204
Equity
Equity, attributable to parent, including: 1,062,6231,350,6621,387,6201,439,7191,672,451
Common stock 529517501500499
Additional paid in capital 1,245,6401,543,6651,582,1931,631,6461,882,149
Accumulated deficit (183,562)(193,539)(195,093)(192,446)(210,218)
Other undisclosed equity, attributable to parent 1619191921
Equity, attributable to noncontrolling interest (2,529)(282)(767)(1,271)(1,593)
Total equity: 1,060,0941,350,3801,386,8531,438,4481,670,858
TOTAL LIABILITIES AND EQUITY: 3,659,0354,270,1994,234,9684,281,0794,731,062

Income Statement (P&L) ($ in thousands)

3/31/2022
Q1
12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
Other undisclosed income before gain (loss) on sale of properties101,573
Revenues(345,418)111,012118,706115,700121,121126,697
Cost of revenue (265) (2,273)2,153 
Provision for loan, lease, and other losses (265) (1,044)  
Deferred sales inducement cost, amortization expense    (1,229)  
Gross profit: 110,747118,706113,427123,274126,697
Operating expenses (83,883)(89,678)(92,022)(95,689)(103,092)
Other operating expense, net
(Other Expenses)
 (242)(240)(245)(288)(577)
Other undisclosed operating income 5072402,51821,277577
Operating income: 27,12929,02823,67848,57423,605
Interest and debt expense (24,847)(27,296)(26,991)(27,950)(30,397)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes 7,743(175)604(3,152)3,190
Income (loss) from continuing operations: 10,0251,557(2,709)17,472(3,602)
Income (loss) before gain (loss) on sale of properties:10,0251,557(2,709)119,045(3,602)
Other undisclosed net income (loss) 24,85927,29626,991(198,327)30,348
Net income (loss): 34,88428,85324,282(79,282)26,746
Net income (loss) attributable to noncontrolling interest 483(62) (108)
Other undisclosed net income (loss) attributable to parent (24,955)(27,302)(26,867)97,054(30,132)
Net income (loss) attributable to parent: 9,9771,554(2,647)17,772(3,494)
Preferred stock dividends and other adjustments    (160,908) 
Other undisclosed net income (loss) available to common stockholders, basic (57,976)(34,121)(33,962)104,505(36,005)
Net loss available to common stockholders, diluted: (47,999)(32,567)(36,609)(38,631)(39,499)

Comprehensive Income ($ in thousands)

3/31/2022
Q1
12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
Net income (loss): 34,88428,85324,282(79,282)26,746
Comprehensive income (loss): 34,88428,85324,282(79,282)26,746
Comprehensive income (loss), net of tax, attributable to noncontrolling interest 483(62) (108)
Other undisclosed comprehensive income, net of tax, attributable to parent     3,515 
Comprehensive income (loss), net of tax, attributable to parent: 34,93228,85624,220(75,767)26,638

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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