Preferred Apartment Communities Inc. (NASDAQ:APTS) has received a consensus broker rating score of 1.00 (Strong Buy) from the six brokers that cover the company, Zacks Investment Research reports. Six analysts have rated the stock with a strong buy recommendation. Preferred Apartment Communities’ rating score has improved by 24.8% in the last three months as a result of a number of analysts’ ratings changes.

Brokerages have set a twelve-month consensus price objective of $16.17 for the company and are expecting that the company will post $0.32 EPS for the current quarter, according to Zacks. Zacks has also assigned Preferred Apartment Communities an industry rank of 85 out of 265 based on the ratings given to related companies.

APTS has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Preferred Apartment Communities from a “sell” rating to a “hold” rating in a report on Monday, August 22nd. Canaccord Genuity reissued a “buy” rating on shares of Preferred Apartment Communities in a report on Tuesday, June 28th. Compass Point reissued a “buy” rating and issued a $16.50 price objective (up previously from $14.00) on shares of Preferred Apartment Communities in a report on Wednesday, August 3rd. FBR & Co reissued an “outperform” rating and issued a $17.00 price objective (up previously from $16.00) on shares of Preferred Apartment Communities in a report on Thursday, August 11th. Finally, Wunderlich reissued a “buy” rating and issued a $15.50 price objective (up previously from $14.00) on shares of Preferred Apartment Communities in a report on Thursday, August 4th.

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Preferred Apartment Communities (NASDAQ:APTS) traded down 2.81% during mid-day trading on Tuesday, hitting $13.16. 53,995 shares of the stock traded hands. Preferred Apartment Communities has a one year low of $10.29 and a one year high of $15.39. The company has a 50 day moving average price of $14.08 and a 200-day moving average price of $13.60.

Preferred Apartment Communities (NASDAQ:APTS) last posted its quarterly earnings data on Monday, August 1st. The company reported $0.31 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.31. Equities analysts anticipate that Preferred Apartment Communities will post $1.28 EPS for the current fiscal year.

The company also recently announced a dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 15th will be given a $0.203 dividend. The ex-dividend date is Tuesday, September 13th. This is a boost from Preferred Apartment Communities’s previous dividend of $0.20.

Institutional investors have recently modified their holdings of the stock. Advisor Group Inc. purchased a new position in shares of Preferred Apartment Communities during the second quarter valued at approximately $581,000. State Street Corp boosted its position in shares of Preferred Apartment Communities by 9.8% in the second quarter. State Street Corp now owns 308,476 shares of the company’s stock valued at $4,537,000 after buying an additional 27,560 shares during the last quarter. Schnieders Capital Management LLC boosted its position in shares of Preferred Apartment Communities by 16.6% in the second quarter. Schnieders Capital Management LLC now owns 182,660 shares of the company’s stock valued at $2,689,000 after buying an additional 26,050 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Preferred Apartment Communities by 4.1% in the second quarter. BlackRock Fund Advisors now owns 623,007 shares of the company’s stock valued at $9,171,000 after buying an additional 24,550 shares during the last quarter. Finally, Allianz Asset Management AG purchased a new position in shares of Preferred Apartment Communities during the second quarter valued at approximately $357,000.

Preferred Apartment Communities Company Profile

Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company is formed primarily to acquire and operate multifamily properties in select-targeted markets throughout the United States. It operates through three segments: multifamily communities, retail, and real estate related financing.

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