Geode Capital Management LLC lifted its position in Preferred Apartment Communities Inc. (NYSE:APTS) by 14.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 451,922 shares of the real estate investment trust’s stock after purchasing an additional 58,015 shares during the quarter. Geode Capital Management LLC owned about 1.10% of Preferred Apartment Communities worth $6,354,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Optimum Investment Advisors increased its holdings in shares of Preferred Apartment Communities by 100.0% in the fourth quarter. Optimum Investment Advisors now owns 2,000 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Preferred Apartment Communities by 43.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,170 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,259 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in Preferred Apartment Communities during the fourth quarter worth approximately $102,000. JOYN Advisors Inc. increased its stake in Preferred Apartment Communities by 23.3% during the fourth quarter. JOYN Advisors Inc. now owns 7,854 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 1,482 shares during the last quarter. Finally, Palo Capital Inc. bought a new stake in Preferred Apartment Communities during the third quarter worth approximately $211,000. 59.84% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have weighed in on APTS. ValuEngine cut Preferred Apartment Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Boenning Scattergood reissued a “buy” rating on shares of Preferred Apartment Communities in a research note on Tuesday, February 26th. Finally, Zacks Investment Research cut Preferred Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Preferred Apartment Communities has a consensus rating of “Hold” and a consensus price target of $19.00.

Shares of NYSE APTS opened at $15.18 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.04. Preferred Apartment Communities Inc. has a 1-year low of $13.14 and a 1-year high of $18.60. The company has a market cap of $653.36 million, a price-to-earnings ratio of 10.77, a P/E/G ratio of 1.50 and a beta of 0.51.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.04 annualized dividend and a dividend yield of 6.85%. Preferred Apartment Communities’s dividend payout ratio (DPR) is presently 73.76%.

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About Preferred Apartment Communities

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.

Further Reading: Preferred Stock

Institutional Ownership by Quarter for Preferred Apartment Communities (NYSE:APTS)

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