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

Shares of Preferred Apartment Communities Inc. (NYSE:APTS) have been assigned a consensus rating of “Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $19.80.

A number of research analysts have commented on the company. BidaskClub raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 14th. Zacks Investment Research lowered Preferred Apartment Communities from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. ValuEngine raised Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. B. Riley reaffirmed a “neutral” rating and issued a $17.00 price objective (up from $16.00) on shares of Preferred Apartment Communities in a report on Thursday, November 2nd. Finally, SunTrust Banks assumed coverage on Preferred Apartment Communities in a report on Thursday, January 11th. They issued a “hold” rating and a $20.00 price objective on the stock.

Preferred Apartment Communities (APTS) opened at $14.51 on Wednesday. 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 has a 1-year low of $12.42 and a 1-year high of $22.71. The firm has a market capitalization of $556.28, a P/E ratio of -14.37, a P/E/G ratio of 1.42 and a beta of 0.19.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date of this dividend is Wednesday, March 14th. Preferred Apartment Communities’s dividend payout ratio is -99.01%.

In other news, 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 transaction of $53,125.00. Following the sale, the insider now directly owns 16,460 shares of the company’s stock, valued at approximately $349,775. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Daniel M. Dupree sold 17,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $21.08, for a total value of $358,360.00. Following the sale, the insider now directly owns 99,564 shares in the company, valued at $2,098,809.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,500 shares of company stock worth $452,685. Insiders own 3.11% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in APTS. Schwab Charles Investment Management Inc. grew its holdings in shares of Preferred Apartment Communities by 158.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 236,742 shares of the real estate investment trust’s stock worth $3,729,000 after purchasing an additional 145,131 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of 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 purchasing an additional 845 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Preferred Apartment Communities during the 2nd quarter worth $2,139,000. TIAA CREF Investment Management LLC grew its holdings in shares of Preferred Apartment Communities by 269.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 343,619 shares of the real estate investment trust’s stock worth $5,412,000 after purchasing an additional 250,719 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Preferred Apartment Communities by 758.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 158,967 shares of the real estate investment trust’s stock worth $2,504,000 after purchasing an additional 140,454 shares in the last quarter. 48.73% of the stock is currently owned by institutional investors.

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About Preferred Apartment Communities

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.

Analyst Recommendations for Preferred Apartment Communities (NYSE:APTS)

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