Preferred Apartment Communities, Inc. Announces Cancellation of Fourth Quarter and Year Ended 2021 Earnings Call

Rhea-AI Summary

Preferred Apartment Communities, Inc. (NYSE: APTS) has announced the cancellation of its conference call regarding fourth quarter and year-end 2021 earnings due to its proposed acquisition by Blackstone Real Estate Income Trust, Inc.. The company plans to release its earnings report on February 28, 2022, after market close. Preferred Apartment Communities focuses on owning and operating Class A multifamily properties and grocery-anchored shopping centers, holding 107 properties in 13 states as of September 30, 2021.

Positive

• Proposed acquisition by Blackstone Real Estate Income Trust may enhance financial stability.
• Current portfolio includes 107 properties in 13 states, indicating diversified investments.

Negative

• Cancellation of the earnings conference call may raise investor uncertainty.
• Absence of detailed financial results until the press release on February 28, 2022.

ATLANTA--(BUSINESS WIRE)-- Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") today announced that as a result of its proposed acquisition by Blackstone Real Estate Income Trust, Inc., the Company has cancelled its conference call to discuss its fourth quarter and year ended 2021 earnings previously scheduled for Tuesday, March 1, 2022, at 11:00 a.m. Eastern Time. The Company intends to issue a press release detailing its fourth quarter and year ended 2021 earnings after the market closes on Monday, February 28, 2022.

About Preferred Apartment Communities, Inc.

Preferred Apartment Communities, Inc. (NYSE: APTS) is a real estate investment trust engaged primarily in the ownership and operation of Class A multifamily properties, with select investments in grocery anchored shopping centers. Preferred Apartment Communities’ investment objective is to generate attractive, stable returns for stockholders by investing in income-producing properties and acquiring or originating real estate loans. As of September 30, 2021, the Company owned or was invested in 107 properties in 13 states, predominantly in the Southeast region of the United States. Learn more at www.pacapts.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220223005720/en/

Preferred Apartment Communities, Inc.

John A. Isakson 770-818-4109

Chief Financial Officer

Email: jisakson@pacapts.com

Preferred Apartment Communities, Inc.

Paul Cullen 770-818-4144

Executive Vice President-Investor Relations

Email: Investorrelations@pacapts.com

Source: Preferred Apartment Communities, Inc.

FAQ

What can investors expect from Preferred Apartment Communities' earnings report on February 28, 2022?

Investors can anticipate detailed financial results for the fourth quarter and year ended 2021 when the report is released.

Why was the conference call for Preferred Apartment Communities cancelled?

The conference call was cancelled due to the company's proposed acquisition by Blackstone Real Estate Income Trust.

How many properties does Preferred Apartment Communities currently own?

As of September 30, 2021, Preferred Apartment Communities owned or invested in 107 properties across 13 states.

What is the significance of the acquisition by Blackstone for APTS?

The acquisition by Blackstone may provide enhanced financial stability and growth opportunities for Preferred Apartment Communities.