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Preferred Apartment Communities (NASDAQ:APTS) issued its quarterly earnings data on Monday. The company reported $0.25 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.01, StockRatingsNetwork.com reports.

A number of research firms have recently commented on APTS. Analysts at Oppenheimer raised their price target on shares of Preferred Apartment Communities from $9.00 to $10.00 in a research note on Monday, June 2nd. They now have an “outperform” rating on the stock. On a related note, analysts at ISI Group initiated coverage on shares of Preferred Apartment Communities in a research note on Friday, May 30th. They set a “buy” rating and a $13.00 price target on the stock. Finally, analysts at MLV & Co
initiated coverage on shares of Preferred Apartment Communities in a research note on Friday, May 30th. They set a “buy” rating and a $13.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $11.20.

Shares of Preferred Apartment Communities (NASDAQ:APTS) traded down 0.99% during mid-day trading on Monday, hitting $9.01. 47,865 shares of the company’s stock traded hands. Preferred Apartment Communities has a 52 week low of $7.62 and a 52 week high of $9.36. The stock’s 50-day moving average is $8.97 and its 200-day moving average is $8.41.

Preferred Apartment Communities, Inc, is formed to acquire multifamily properties in select targeted markets throughout the United States.

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