Preferred Apartment Communities, Inc. (APTS) Given Average Rating of “Buy” by Brokerages

Shares of Preferred Apartment Communities, Inc. (NYSE:APTS) have received an average recommendation of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $19.75.

APTS has been the subject of a number of research reports. National Securities raised their price target on shares of Preferred Apartment Communities from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research upgraded shares of Preferred Apartment Communities from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Thursday, November 2nd. BidaskClub cut shares of Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 31st. Canaccord Genuity set a $20.00 price target on shares of Preferred Apartment Communities and gave the stock a “buy” rating in a report on Thursday, August 10th. Finally, B. Riley restated a “neutral” rating and issued a $17.00 price target (up from $16.00) on shares of Preferred Apartment Communities in a report on Thursday, November 2nd.

In other Preferred Apartment Communities news, insider Daniel M. Dupree sold 17,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $21.08, for a total value of $358,360.00. Following the transaction, the insider now directly owns 99,564 shares of the company’s stock, valued at $2,098,809.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 1,850 shares of company stock worth $39,349 over the last ninety days. Insiders own 3.11% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in APTS. Vanguard Group Inc. lifted its position in Preferred Apartment Communities by 11.7% during the second quarter. Vanguard Group Inc. now owns 1,284,654 shares of the real estate investment trust’s stock valued at $20,234,000 after purchasing an additional 134,981 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Preferred Apartment Communities by 119.0% in the third quarter. JPMorgan Chase & Co. now owns 1,158,689 shares of the real estate investment trust’s stock valued at $21,841,000 after acquiring an additional 629,616 shares during the period. LSV Asset Management lifted its holdings in Preferred Apartment Communities by 97.3% in the second quarter. LSV Asset Management now owns 731,366 shares of the real estate investment trust’s stock valued at $11,519,000 after acquiring an additional 360,601 shares during the period. Hillcrest Asset Management LLC acquired a new position in Preferred Apartment Communities in the third quarter valued at approximately $12,257,000. Finally, Teachers Advisors LLC lifted its holdings in Preferred Apartment Communities by 926.8% in the second quarter. Teachers Advisors LLC now owns 525,054 shares of the real estate investment trust’s stock valued at $8,270,000 after acquiring an additional 473,918 shares during the period. 52.29% of the stock is currently owned by hedge funds and other institutional investors.

Preferred Apartment Communities (NYSE APTS) traded down $0.39 on Friday, hitting $21.26. 3,172,900 shares of the stock traded hands, compared to its average volume of 312,571. Preferred Apartment Communities has a 52 week low of $12.42 and a 52 week high of $22.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.07 and a current ratio of 0.07. The firm has a market capitalization of $697.15, a PE ratio of 15.16, a PEG ratio of 2.14 and a beta of 0.42.

Preferred Apartment Communities (NYSE:APTS) last posted its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.49) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.18). Preferred Apartment Communities had a return on equity of 2.78% and a net margin of 10.49%. The firm had revenue of $74.90 million for the quarter, compared to analyst estimates of $67.86 million. equities research analysts anticipate that Preferred Apartment Communities will post 1.45 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.70%. This is a positive change from Preferred Apartment Communities’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 14th. Preferred Apartment Communities’s dividend payout ratio (DPR) is -94.00%.

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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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