Koshinski Asset Management Inc. trimmed its stake in Preferred Apartment Communities Inc. (NYSE:APTS) by 40.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,839 shares of the real estate investment trust’s stock after selling 13,698 shares during the quarter. Koshinski Asset Management Inc. owned about 0.05% of Preferred Apartment Communities worth $402,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of APTS. Public Employees Retirement System of Ohio bought a new position in shares of Preferred Apartment Communities in the third quarter valued at $2,022,000. Dana Investment Advisors Inc. bought a new position in shares of Preferred Apartment Communities in the third quarter valued at $2,536,000. Sterling Capital Management LLC bought a new position in shares of Preferred Apartment Communities in the third quarter valued at $905,000. Neuberger Berman Group LLC lifted its stake in shares of Preferred Apartment Communities by 1.0% in the third quarter. Neuberger Berman Group LLC now owns 334,736 shares of the real estate investment trust’s stock valued at $6,320,000 after buying an additional 3,356 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Preferred Apartment Communities by 59.7% in the third quarter. California Public Employees Retirement System now owns 92,138 shares of the real estate investment trust’s stock valued at $1,740,000 after buying an additional 34,438 shares in the last quarter. Institutional investors and hedge funds own 49.03% of the company’s stock.
A number of research analysts have weighed in on APTS shares. ValuEngine raised shares of Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. BidaskClub raised shares of Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 14th. National Securities raised their price target on shares of Preferred Apartment Communities from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 29th. SunTrust Banks started coverage on shares of Preferred Apartment Communities in a research report on Thursday, January 11th. They set a “hold” rating and a $20.00 price target on the stock. Finally, Zacks Investment Research lowered shares of Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $20.33.
Shares of Preferred Apartment Communities Inc. (NYSE:APTS) traded up $0.70 during trading hours on Friday, reaching $15.00. 591,133 shares of the company traded hands, compared to its average volume of 519,986. The stock has a market capitalization of $578.65, a PE ratio of -14.85, a P/E/G ratio of 1.47 and a beta of 0.19. Preferred Apartment Communities Inc. has a 12 month low of $12.42 and a 12 month high of $22.71. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.05.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.00 dividend on an annualized basis and a yield of 6.67%. Preferred Apartment Communities’s dividend payout ratio is presently -99.01%.
In other news, insider Daniel M. Dupree sold 17,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 99,564 shares in the company, valued at approximately $2,098,809.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Joseph Cronin sold 2,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 16,460 shares of the company’s stock, valued at $349,775. The disclosure for this sale can be found here. In the last three months, insiders sold 21,500 shares of company stock valued at $452,685. Corporate insiders own 3.11% of the company’s stock.
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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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