Shares of Preferred Apartment Communities Inc. (NASDAQ:APTS) have been assigned an average rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $17.63.

Several research analysts have recently issued reports on APTS shares. FBR & Co reaffirmed a “market perform” rating and issued a $16.00 target price on shares of Preferred Apartment Communities in a research note on Tuesday, July 11th. BidaskClub lowered shares of Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. Canaccord Genuity set a $20.00 target price on shares of Preferred Apartment Communities and gave the company a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research raised shares of Preferred Apartment Communities from a “strong sell” rating to a “hold” rating in a research note on Friday, August 4th. Finally, National Securities reaffirmed a “buy” rating and issued a $20.00 target price (up previously from $16.00) on shares of Preferred Apartment Communities in a research note on Tuesday, May 23rd.

Preferred Apartment Communities (NASDAQ:APTS) traded down 0.44% during mid-day trading on Friday, reaching $17.96. 983,807 shares of the company traded hands. The firm’s market cap is $598.45 million. Preferred Apartment Communities has a one year low of $12.02 and a one year high of $18.55. The stock’s 50-day moving average price is $17.96 and its 200-day moving average price is $15.63.

Preferred Apartment Communities (NASDAQ:APTS) last issued its earnings results on Monday, July 31st. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. The company had revenue of $70.89 million for the quarter, compared to analyst estimates of $63.74 million. Preferred Apartment Communities had a net margin of 4.66% and a negative return on equity of 4.73%. Analysts forecast that Preferred Apartment Communities will post ($1.08) earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 15th will be paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend is Thursday, September 14th.

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Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its stake in Preferred Apartment Communities by 13.3% during the 2nd quarter. Legal & General Group Plc now owns 7,188 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 845 shares during the last quarter. Schroder Investment Management Group bought a new position in Preferred Apartment Communities during the 2nd quarter worth approximately $113,000. American International Group Inc. boosted its stake in Preferred Apartment Communities by 7.4% during the 1st quarter. American International Group Inc. now owns 14,006 shares of the real estate investment trust’s stock worth $185,000 after acquiring an additional 966 shares during the last quarter. Citigroup Inc. boosted its stake in Preferred Apartment Communities by 338.2% during the 2nd quarter. Citigroup Inc. now owns 11,831 shares of the real estate investment trust’s stock worth $187,000 after acquiring an additional 9,131 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. bought a new position in Preferred Apartment Communities during the 2nd quarter worth approximately $189,000.

Preferred Apartment Communities Company Profile

Preferred Apartment Communities, Inc is a real estate investment trust (REIT). The Company is formed to acquire and operate multifamily properties in select targeted markets throughout the United States. It operates through segments, including multifamily communities, real estate related financing, new market properties and office buildings.

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