Preferred Apartment Communities, Inc. (NYSE:APTS) insider Michael Joseph Cronin sold 2,500 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $21.25, for a total value of $53,125.00. Following the completion of the sale, the insider now directly owns 16,460 shares in the company, valued at $349,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Preferred Apartment Communities, Inc. (APTS) traded down $0.11 during trading hours on Tuesday, hitting $21.12. The stock had a trading volume of 601,178 shares, compared to its average volume of 318,312. The company has a market capitalization of $769.80, a P/E ratio of 14.67, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.07 and a current ratio of 0.07. Preferred Apartment Communities, Inc. has a 1 year low of $12.42 and a 1 year high of $22.71.

Preferred Apartment Communities (NYSE:APTS) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.18). The business had revenue of $74.90 million for the quarter, compared to the consensus estimate of $67.86 million. Preferred Apartment Communities had a net margin of 10.49% and a return on equity of 2.78%. sell-side analysts expect that Preferred Apartment Communities, Inc. will post 1.45 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.25 per share. This is an increase from Preferred Apartment Communities’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Thursday, December 14th. Preferred Apartment Communities’s dividend payout ratio is presently -93.07%.

Large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in Preferred Apartment Communities by 15.9% in the second quarter. Goldman Sachs Group Inc. now owns 93,198 shares of the real estate investment trust’s stock valued at $1,468,000 after acquiring an additional 12,819 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Preferred Apartment Communities by 103.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 91,611 shares of the real estate investment trust’s stock valued at $1,211,000 after acquiring an additional 46,614 shares during the period. Northern Trust Corp lifted its holdings in Preferred Apartment Communities by 20.9% in the second quarter. Northern Trust Corp now owns 343,721 shares of the real estate investment trust’s stock valued at $5,413,000 after acquiring an additional 59,399 shares during the period. EAM Investors LLC bought a new position in Preferred Apartment Communities in the third quarter valued at about $2,080,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Preferred Apartment Communities by 26.3% in the second quarter. The Manufacturers Life Insurance Company now owns 25,578 shares of the real estate investment trust’s stock valued at $403,000 after acquiring an additional 5,333 shares during the period. 52.51% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on APTS. ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. BidaskClub cut Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 31st. B. Riley reaffirmed a “neutral” rating and set a $17.00 price target (up from $16.00) on shares of Preferred Apartment Communities in a report on Thursday, November 2nd. National Securities upped their price target on Preferred Apartment Communities from $20.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. Finally, Zacks Investment Research downgraded Preferred Apartment Communities from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $20.40.

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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.

Insider Buying and Selling by Quarter for Preferred Apartment Communities (NYSE:APTS)

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