Insider Buying: Preferred Apt. Communities CEO Acquires 1,800 Shares of Stock (APTS)
Preferred Apt. Communities (NASDAQ:APTS) CEO John A. Williams bought 1,800 shares of Preferred Apt. Communities stock on the open market in a transaction dated Friday, May 16th. The shares were purchased at an average cost of $8.30 per share, with a total value of $14,940.00. Following the completion of the transaction, the chief executive officer now directly owns 6,000 shares in the company, valued at approximately $49,800. The acquisition was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on APTS shares. Analysts at Wunderlich reiterated a “buy” rating on shares of Preferred Apt. Communities in a research note on Thursday, May 8th. They now have a $10.00 price target on the stock, down previously from $12.00. Analysts at Compass Point reiterated a “buy” rating on shares of Preferred Apt. Communities in a research note on Wednesday, April 23rd. They now have a $10.00 price target on the stock.
Preferred Apt. Communities (NASDAQ:APTS) traded up 0.11% during mid-day trading on Tuesday, hitting $8.319. The stock had a trading volume of 37,718 shares. Preferred Apt. Communities has a 52 week low of $7.62 and a 52 week high of $9.64. The stock’s 50-day moving average is $8.12 and its 200-day moving average is $8.07.
Preferred Apt. Communities (NASDAQ:APTS) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.25 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.01. Analysts expect that Preferred Apt. Communities will post $1.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 7.72%. The ex-dividend date of this dividend is Thursday, June 12th.
Preferred Apartment Communities, Inc, incorporated on September 18, 2009, is formed to acquire multifamily properties in select targeted markets throughout the United States.