Preferred Apartment Communities Inc. (NYSE:APTS) has earned an average rating of “Buy” from the eight research firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $19.80.
Several brokerages recently weighed in on APTS. BidaskClub raised shares of Preferred Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 14th. B. Riley reaffirmed a “neutral” rating and issued a $17.00 price target (up previously from $16.00) on shares of Preferred Apartment Communities in a research report on Thursday, November 2nd. Zacks Investment Research cut shares of Preferred Apartment Communities from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. 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. Finally, SunTrust Banks began coverage on shares of Preferred Apartment Communities in a research report on Thursday, January 11th. They issued a “hold” rating and a $20.00 price target on the stock.
In other Preferred Apartment Communities news, insider Michael Joseph Cronin sold 2,500 shares of Preferred Apartment Communities stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $21.25, for a total transaction of $53,125.00. Following the transaction, the insider now 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 available through this link. Also, insider Daniel M. Dupree sold 17,000 shares of Preferred Apartment Communities stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $21.08, for a total transaction of $358,360.00. Following the transaction, the insider now directly owns 99,564 shares in the company, valued at approximately $2,098,809.12. The disclosure for this sale can be found here. In the last three months, insiders have acquired 1,850 shares of company stock worth $39,349 and have sold 21,500 shares worth $452,685. 3.11% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new position in shares of Preferred Apartment Communities during the 3rd quarter worth approximately $2,022,000. Dana Investment Advisors Inc. bought a new position in shares of Preferred Apartment Communities during the 3rd quarter worth approximately $2,536,000. Sterling Capital Management LLC bought a new position in shares of Preferred Apartment Communities during the 3rd quarter worth approximately $905,000. Neuberger Berman Group LLC lifted its position in shares of Preferred Apartment Communities by 1.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 334,736 shares of the real estate investment trust’s stock worth $6,320,000 after buying an additional 3,356 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Preferred Apartment Communities by 59.7% during the 3rd quarter. California Public Employees Retirement System now owns 92,138 shares of the real estate investment trust’s stock worth $1,740,000 after purchasing an additional 34,438 shares during the last quarter. 52.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Preferred Apartment Communities (APTS) traded up $0.18 during midday trading on Friday, reaching $17.02. 437,829 shares of the company traded hands, compared to its average volume of 522,857. Preferred Apartment Communities has a twelve month low of $12.42 and a twelve month high of $22.71. The company has a market cap of $556.02, a PE ratio of -17.02, a price-to-earnings-growth ratio of 1.53 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 (NYSE:APTS) last announced its quarterly earnings results 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 net margin of 10.49% and a return on equity of 2.78%. The business had revenue of $74.90 million during the quarter, compared to the consensus estimate of $67.86 million. equities analysts predict that Preferred Apartment Communities will post 1.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 5.88%. This is a boost from Preferred Apartment Communities’s previous quarterly dividend of $0.24. Preferred Apartment Communities’s dividend payout ratio (DPR) is currently -100.00%.
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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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