Preferred Apartment Communities, Inc. announced that its Board of Directors has declared a quarterly dividend on its common stock of $0.15 per share for the second quarter of 2013, an increase of $0.005 per share or approximately 3.4% from the prior quarterly dividend rate of $0.145 per share paid to common stockholders for the first quarter of 2013. This also represents a 20% overall increase in common stock dividend since IPO and an annualized dividend growth rate of 10%. The dividend is payable on July 22, 2013 to all common stockholders of record as of June 26, 2013.

Preferred Apartment Communities, Inc. (AMEX:APTS) is seeking acquistions. John A. Williams, Chairman and Chief Executive Officer of Preferred Apartment, said, "We are excited about our opportunities for 2013 as we continue to work on improving operations, increasing rents and growing the Company through acquisitions."

Preferred Apartment Communities, Inc. reported earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net cash provided by operating activities, excluding the effect of approximately $1.1 million of acquisition costs related to the three communities acquired in January 2013, of $1,863,401. This represents an increase of approximately $935,000, or 101% over net cash provided by operating activities for first quarter 2012, excluding the effect of $912 of miscellaneous acquisition costs related to prior period acquisitions, of $928,306. Adjusted funds from operations attributable to common stockholders and unit holders, or AFFO, was $897,917 compared with $768,941 for first quarter 2012, an increase of approximately 16.8%. Funds from operations attributable to common stockholders and unit holder’s loss of $161,454 compared with an FFO gain of $490,783 for first quarter 2012. Net loss attributable to common stockholders of $4,179,650 or approximately $0.79 per share compared to a net loss attributable to common stockholders of $480,735 or approximately $0.09 per share for first quarter 2012. For the second quarter of 2013, the company projects its AFFO to be in the range of $1,750,000 to $2,050,000.