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Research analysts at MLV & Co
initiated coverage on shares of Preferred Apt. Communities (NASDAQ:APTS) in a report released on Friday. The firm set a “buy” rating and a $13.00 price target on the stock. MLV & Co
‘s price target would suggest a potential upside of 52.94% from the company’s current price.

Several other analysts have also recently commented on the stock. 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. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.00.

Preferred Apt. Communities (NASDAQ:APTS) opened at 8.50 on Friday. Preferred Apt. Communities has a 52-week low of $7.62 and a 52-week high of $9.00. The stock’s 50-day moving average is $8.18 and its 200-day moving average is $8.08.

Preferred Apt. Communities (NASDAQ:APTS) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters 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 7.53%. 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.

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