Preferred Apartment (NYSE:APTS) has received an average rating of “Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $18.67.
A number of research firms have recently commented on APTS. Zacks Investment Research raised shares of Preferred Apartment from a “strong sell” rating to a “hold” rating in a report on Wednesday. SunTrust Banks set a $16.00 price objective on shares of Preferred Apartment and gave the stock a “hold” rating in a report on Monday. B. Riley set a $16.00 price objective on shares of Preferred Apartment and gave the stock a “hold” rating in a report on Wednesday, February 28th. DA Davidson set a $18.00 price objective on shares of Preferred Apartment and gave the stock a “buy” rating in a report on Thursday, March 1st. Finally, ValuEngine raised shares of Preferred Apartment from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st.
Several large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new position in Preferred Apartment during the 3rd quarter valued at about $118,000. QS Investors LLC bought a new position in Preferred Apartment during the 4th quarter valued at about $148,000. Stifel Financial Corp bought a new position in Preferred Apartment during the 3rd quarter valued at about $202,000. Intrust Bank NA bought a new position in Preferred Apartment during the 4th quarter valued at about $206,000. Finally, Schroder Investment Management Group lifted its holdings in Preferred Apartment by 59.4% during the 3rd quarter. Schroder Investment Management Group now owns 11,317 shares of the real estate investment trust’s stock valued at $213,000 after purchasing an additional 4,217 shares during the last quarter. 58.38% of the stock is owned by institutional investors.
NYSE APTS traded down $0.31 during midday trading on Thursday, hitting $14.39. The company had a trading volume of 267,121 shares, compared to its average volume of 475,543. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.06 and a quick ratio of 0.06. The firm has a market capitalization of $558.80, a price-to-earnings ratio of 9.79, a P/E/G ratio of 1.39 and a beta of 0.29. Preferred Apartment has a fifty-two week low of $13.60 and a fifty-two week high of $22.71.
Preferred Apartment (NYSE:APTS) last posted its quarterly earnings results on Monday, February 26th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $1.00. The company had revenue of $81.65 million for the quarter, compared to analyst estimates of $83.27 million. Preferred Apartment had a net margin of 9.41% and a return on equity of 2.46%. The business’s quarterly revenue was up 38.4% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. sell-side analysts expect that Preferred Apartment will post 1.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date of this dividend is Wednesday, March 14th. Preferred Apartment’s payout ratio is 68.03%.
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About Preferred Apartment
Preferred Apartment Communities, Inc (NYSE: APTS), or the Company, is a Maryland corporation formed primarily to acquire and operate multifamily properties in select targeted markets throughout the United States. As part of our business strategy, we may enter into forward purchase contracts or purchase options for to-be-built multifamily communities and we may make real estate related loans, provide deposit arrangements or provide performance assurances, as may be necessary or appropriate, in connection with the development of multifamily communities and other properties.
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