Pacific Sun Financial Corp raised its stake in Preferred Apartment Communities Inc. (NYSE:APTS) by 11.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,853 shares of the real estate investment trust’s stock after purchasing an additional 7,850 shares during the period. Preferred Apartment Communities accounts for approximately 1.1% of Pacific Sun Financial Corp’s investment portfolio, making the stock its 27th largest holding. Pacific Sun Financial Corp owned about 0.18% of Preferred Apartment Communities worth $1,139,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. KCS Wealth Advisory purchased a new stake in shares of Preferred Apartment Communities during the third quarter worth about $25,000. Sound Income Strategies LLC grew its stake in shares of Preferred Apartment Communities by 82.3% during the second quarter. Sound Income Strategies LLC now owns 2,215 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,000 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Preferred Apartment Communities during the second quarter worth about $42,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Preferred Apartment Communities during the second quarter worth about $48,000. Finally, Marshall Wace LLP purchased a new stake in shares of Preferred Apartment Communities during the first quarter worth about $80,000. Institutional investors own 60.72% of the company’s stock.
Shares of Preferred Apartment Communities stock traded up $0.05 on Friday, reaching $13.04. 407,689 shares of the stock were exchanged, compared to its average volume of 278,333. The company has a quick ratio of 0.08, a current ratio of 0.07 and a debt-to-equity ratio of 0.03. Preferred Apartment Communities Inc. has a twelve month low of $12.90 and a twelve month high of $17.00. The firm has a market capitalization of $583.27 million, a price-to-earnings ratio of 9.25, a PEG ratio of 1.30 and a beta of 0.46. The business has a 50 day moving average price of $14.33 and a two-hundred day moving average price of $14.83.
Preferred Apartment Communities (NYSE:APTS) last released its earnings results on Monday, November 4th. The real estate investment trust reported ($0.71) EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($1.06). Preferred Apartment Communities had a return on equity of 1.19% and a net margin of 4.57%. The firm had revenue of $120.20 million for the quarter, compared to analyst estimates of $117.91 million. During the same period last year, the firm earned $0.28 EPS. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. Research analysts forecast that Preferred Apartment Communities Inc. will post 1.4 EPS for the current year.
APTS has been the topic of a number of research analyst reports. DA Davidson lowered Preferred Apartment Communities from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th. Compass Point lowered Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Zacks Investment Research lowered Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, National Securities initiated coverage on Preferred Apartment Communities in a research note on Monday, September 16th. They set a “buy” rating and a $18.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Preferred Apartment Communities presently has a consensus rating of “Hold” and an average target price of $17.75.
Preferred Apartment Communities Profile
Preferred Apartment Communities, Inc is a Maryland corporation formed primarily to own and operate multifamily properties and, to a lesser extent, own and operate student housing properties, grocery-anchored shopping centers and strategically located, well leased class A office buildings, all in select targeted markets throughout the United States.
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