Preferred Apartment Communities, Inc. (APTS) Receives Consensus Rating of “Buy” from Analysts
Preferred Apartment Communities, Inc. (NYSE:APTS) has earned a consensus rating of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $19.75.
APTS has been the subject of a number of research reports. Zacks Investment Research upgraded Preferred Apartment Communities from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Thursday, November 2nd. BidaskClub cut Preferred Apartment Communities from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 31st. National Securities increased their target price on Preferred Apartment Communities from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. Canaccord Genuity set a $20.00 price objective on Preferred Apartment Communities and gave the company a “buy” rating in a report on Thursday, August 10th. Finally, B. Riley restated a “neutral” rating and issued a $17.00 price objective (up previously from $16.00) on shares of Preferred Apartment Communities in a report on Thursday, November 2nd.
In other news, insider Daniel M. Dupree sold 17,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $21.08, for a total value of $358,360.00. Following the completion of the transaction, the insider now owns 99,564 shares in the company, valued at approximately $2,098,809.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought a total of 1,850 shares of company stock valued at $39,349 in the last 90 days. 3.11% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc grew its holdings in shares of Preferred Apartment Communities by 13.3% in the 2nd quarter. Legal & General Group Plc now owns 7,188 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 845 shares in the last quarter. Schroder Investment Management Group bought a new position in shares of Preferred Apartment Communities in the 2nd quarter valued at about $113,000. Envestnet Asset Management Inc. acquired a new stake in Preferred Apartment Communities in the 3rd quarter valued at about $118,000. Citigroup Inc. lifted its stake in Preferred Apartment Communities by 338.2% in the 2nd quarter. Citigroup Inc. now owns 11,831 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 9,131 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new stake in Preferred Apartment Communities in the 2nd quarter valued at about $189,000. Institutional investors own 52.51% of the company’s stock.
Preferred Apartment Communities (APTS) traded up $0.06 during mid-day trading on Friday, reaching $21.07. The company’s stock had a trading volume of 358,480 shares, compared to its average volume of 315,681. The company has a market cap of $775.67, a PE ratio of 14.78, a PEG ratio of 2.08 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 has a 52-week low of $12.42 and a 52-week high of $22.71.
Preferred Apartment Communities (NYSE:APTS) last released its earnings results on Monday, October 30th. The real estate investment trust reported ($0.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.18). The firm had revenue of $74.90 million for the quarter, compared to the consensus estimate of $67.86 million. Preferred Apartment Communities had a return on equity of 2.78% and a net margin of 10.49%. equities analysts expect that Preferred Apartment Communities will post 1.45 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be issued a $0.25 dividend. This is a boost from Preferred Apartment Communities’s previous quarterly dividend of $0.24. The ex-dividend date is Thursday, December 14th. This represents a $1.00 annualized dividend and a dividend yield of 4.75%. Preferred Apartment Communities’s dividend payout ratio (DPR) is presently -93.07%.
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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.
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