Preferred Apartment Communities Inc. (NASDAQ:APTS) has earned a consensus rating of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $17.63.

APTS has been the subject of several analyst reports. BidaskClub downgraded Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 8th. FBR & Co reissued a “market perform” rating and issued a $16.00 price objective on shares of Preferred Apartment Communities in a research note on Tuesday, July 11th. Zacks Investment Research downgraded Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Canaccord Genuity set a $17.00 price objective on Preferred Apartment Communities and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st.

Several institutional investors and hedge funds have recently modified their holdings of APTS. Legal & General Group Plc increased its position in shares of Preferred Apartment Communities by 13.3% during the second quarter. Legal & General Group Plc now owns 7,188 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 845 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of Preferred Apartment Communities during the second quarter valued at approximately $113,000. American International Group Inc. increased its position in shares of Preferred Apartment Communities by 7.4% during the first quarter. American International Group Inc. now owns 14,006 shares of the real estate investment trust’s stock valued at $185,000 after acquiring an additional 966 shares during the last quarter. Citigroup Inc. increased its position in shares of Preferred Apartment Communities by 338.2% during the second quarter. Citigroup Inc. now owns 11,831 shares of the real estate investment trust’s stock valued at $187,000 after acquiring an additional 9,131 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. purchased a new stake in shares of Preferred Apartment Communities during the second quarter valued at approximately $189,000.

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Preferred Apartment Communities (APTS) traded up 1.34% on Thursday, hitting $19.73. The company’s stock had a trading volume of 95,722 shares. The firm has a 50 day moving average of $18.52 and a 200-day moving average of $16.39. Preferred Apartment Communities has a 12 month low of $12.26 and a 12 month high of $19.76. The stock’s market cap is $657.42 million.

Preferred Apartment Communities (NASDAQ:APTS) last issued its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $70.89 million during the quarter, compared to the consensus estimate of $63.74 million. Preferred Apartment Communities had a negative return on equity of 4.73% and a net margin of 4.66%. On average, analysts expect that Preferred Apartment Communities will post ($1.08) earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 15th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Thursday, September 14th.

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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